A 69,000 SF office building located at 618 6th Avenue in the Uptown area of New Westminster has sold for $32,471,500, or $471 per SF. The 6-storey office building is anchored by RBC and was acquired off-market by Value Group.
Another midrise, mixed use condo building is coming to Lower Lonsdale.
Developer Fairborne Properties received second and third readings to a bylaw Monday night that will allow them to build 65 one-and two-bedroom condos above 7,200 square feet of commercial frontage at 117 – 135 West First St.
At 75 feet, the six-storey, wood-framed building fits within maximum height allowed in the official community plan.
In exchange for a small increase in density, Fairbourn is offering to restore and put heritage designation on the historic B.C. Telephone Commercial Building at 117 West First, currently home to flower shop Bella Doni and include 1,430 square feet of community amenity space fronting Rogers Plaza. City staff estimate the community space to have a value of $645,000.
The application includes a request for 146 parking spots – 24 more than the minimum required by city’s zoning bylaw. Council members, mainly accustomed to being asked
by developers to reduce the total number of required spaces, struggled with the request. The reason for the extra spaces, according to the developer, is that the condos are likely going to be popular with “downsizers” moving from single-family homes and wanting to keep two vehicles.
Read more: http://www.nsnews.com/news/six-more-storeys-for-lower-lonsdale-1.859547
FDG Property Management has submitted a rezoning proposal for 161-165 E. Keith Rd. to allow the construction of a 93-unit 16-level residential building with 52 strata units, and 41 purpose built rental units secured in perpetuity and involving a density transfer/sale from adjacent City owned lands. The lands under consideration include Site B (12,598 SF) and the adjacent City Parcel Site A (7,600 SF) which have a combined area of 20,198 SF. This combined site shown below.
The existing rental building on the site, Park Lane Manor, was constructed in 1954 and has 12 units. As such, it is one of the older purpose-built rental buildings remaining in the City and is in relatively poor condition. It will be replaced by this proposal.