A rezoning application has been submitted for a site at 5019-5039 Payne Street in the Joyce-Collingwood area of East Vancouver.

The proposal is to allow for the development of a 14-storey condo building that includes:

• 117 condo units;
  • 76 studios/1-Beds, 37 two-bedrooms and 4 three-bedrooms;
• A total density of 4.50 FSR;
• A building height of 140 ft.; and
• 78 vehicle parking spaces and 306 bicycle parking spaces.

The application is being considered under the Joyce-Collingwood Precinct Plan.

The architect for the project is Opulence Architecture.

Rize Alliance & Minto have acquired a 5-lot land assembly on Heather Street in the Oakridge area of Vancouver for $47,300,000.

The 42,260 SF site is located on the East side of Heather Street between West 37th and West 39th Avenues. There is no publicly available rezoning application at this stage but the Cambie Corridor Plan designates the Property for an 18-storey rental tower.

Keltic Development has acquired the 4.3 acre Revs Bowling & Entertainment site at 5502 Lougheed Highway in the Brentwood Area of Burnaby for $94,000,000.

The site is improved with a bowling alley but has long been targeted for redevelopment given it’s designation as High Density Residential within the City of Burnaby’s Brentwood Community Plan.

Macdonald Commercial’s marketing brochure from 2021 indicates that the maximum potential density for the site is 8.30 FAR, which could yield over 1.5 Million SF of residential density.

Ledingham McAllister has submitted their master plan application to the City of Coquitlam for “Stratford Wynd”, an 8.0 acre site in the City Centre area of Coquitlam. The site is currently occupied by a 113-unit rental townhouse development built in the early 1980’s.

The site is designated in the City Centre Area Plan as Medium Density Residential.

LedMac is proposing a medium density residential project with nine buildings in eight phases, including one highrise tower, and several midrise/lowrise buildings. Details include:

• 1,113 total residential units;
• 978 condos;
• 135 rental units;
• 57 space childcare centre;
• 2.61 FAR total density;
• an extension of Kensal Place to Inlet Street;
• $25 Million in DCCs and CACs.

The architect for the project is IBI Group.

A 9,000 SF mid-block rental development site at 1247 Kingsway has sold for $5,500,000. The site had been listed for sale for $7,998,000 since July 2022.

The site received DP approval for a 32-unit, 7-storey rental building in May 2022. The site was rezoned under the City of Vancouver’s Rental 100 policy in 2021.

The $5,500,000 purchase price equates to $169/buildable SF. The site was originally acquired by the developer, Da Hua Investment Holdings, in 2017 for $5,000,000.