Holborn Group has acquired 620-622 Seymour Street in Downtown Vancouver for $5,500,000, or $478 per sq ft. The 2-storey, 11,500 sq ft building has been vacant. The site is 6,000 sq ft which equates to $183 per buildable square foot on land value.
Holborn owns the adjacent Bay Parkade and this acquisition represents additional assembly of land with future redevelopment potential.
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.
It is one of the largest undeveloped parcels for multi-family development in Metro Vancouver and will garner considerable interest from the market. The property is being offered directly by Canada Safeway, with an offer deadline of July 5, 2011.
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
