Larco Investments Ltd. is planning a redevelopment of Park Royal South to include potentially 350 condo units in two towers, as well as redesigned vehicle circulation, new retail space and state of the art cinemas.

Larco plans to consult with the public and Squamish First Nations over the next 6 to 9 months, followed by a formal proposal to the City of West Vancouver in early 2012. Construction could begin as early as 2014.

Plans are available at Park Royal, or can be viewed here.

Canada Safeway has placed its 42-acre property in the Edmonds area of Burnaby on the market. The site is currently used for a warehousing and distribution centre but is designated within the City of Burnaby’s Official Community Plan as multi-family residential. It is an excellent development opportunity with the potential to develop upwards of 1,500 units.

Anthem Properties has acquired 190 Alexander Street, ‘The Harbourview’, a 6-storey, 40,000 sq ft office building located at Alexander Street and Hastings Street on the edge of Gastown in Vancouver, B.C.

The purchase price was $10,375,000 representing $262 per sq ft. The building is reinforced concrete and was built in 1979. It features excellent views of the North Shore.

Wall Financial has applied to rezone 32 single family lots to permit redevelopment with three residential towers (31, 32 and 29 storeys) on the Boundary Road and Vanness Avenue frontages and a mid-rise (8-storey) building on the Ormidale Avenue frontage. A total of 1,319 dwelling units are proposed. Proposed FSR is 5.99 (799,218 square feet). The project would include a large outdoor public space on the Ormidale Avenue frontage and proposes approximately 33,000 square feet of Community Amenity Space in the two towers fronting Boundary Road.

Source: City of Vancouver

The College of Physicians and Surgeons of British Columbia has bought seven floors of space in a new Vancouver office tower in what is believed to be the largest office sale to a single user in the city’s history.

The group bought the space in the Offices at Hotel Georgia, part of a $450-million redevelopment of the 84-year-old Hotel Georgia that includes another two floors of as-yet unsold office space as well as 156 condo units.

The deal was worth just under $30-million.

Delta Land Development Ltd. is building the project, and Avison Young brokered the deal. The College plans to move its 90 employees into the space by the end of the year.

“It has always been the vision of the board to own rather than lease office space,” the College said in a statement. “The finance and audit committee considered 24 buildings in Vancouver and Burnaby before making its final decision.”

The strata space – where ownership is comparable to a condo – was bought to avoid future rent increases in a pricey market. It also means the organization won’t have to pay HST on leasing costs.

Source: Globe and Mail