After nearly 6 months on the market, 2999 Grandview Highway, a retail property fully leased to the Brick, has sold for $11,675,000, representing $330 per sq ft., and a 5.5% cap rate. The Brick occupies 35,000 SF on a long-term lease with options.
The property is 1.45 acres and zoned CD for retail use. It is located on the North side of Grandview Highway near Renfrew Street.
Concord Pacific has applied to the City of Vancouver to amend the existing CD-1 Zoning for the Marine Garden Site at 445 Southwest Marine Drive, just east of the rapidly changing intersection of Marine Drive and Cambie. 
The proposal includes:
- two residential towers totaling 514 units in 388,000 sq. ft.: one at 27 storeys (235 ft.), with a 7 storey podium, and one at 21 storeys (185 ft.), with a 6 storey podium;
- 70 units of affordable housing and a 37 space daycare in a 6.5 storey mid-rise;
- 411 underground parking spaces; and,
- a density of 4.27 FSR
This project comes on the heels of Marine Gateway by PCI (415 units) and MC2 by Intracorp (443 units). In addition, Wesgroup owns the site at the Northwest corner of Cambie and Marine which could add another 400 units. In total, this intersection could see close to 2,000 new units in under 5 years…
