Wesgroup has submitted a rezoning application for a 37,000 SF site they own at the Southwest corner of Oak Street and West 41st. The site is comprised of the former Chevron gas station at the corner, as well as a 2-storey medical office building, and comprises effectively a full city block bounded by West 42nd and a lane.

The proposal calls for a large-scale rental development that includes includes:

• Two towers, 8 & 16-storeys in height;
• 222 market rental units (including 52 below market units);
• 20 studios, 123 one-bedrooms, 55 two-bedrooms & 24 three-bedrooms;
• 17,000 SF of retail space including a proposed grocery store;
• A total density of 5.03 FSR;
• Building heights of 179 ft and 90 ft.;
• Partial 17th storey common amenity space;
• 212 vehicle parking spaces and 492 bicycle parking spaces.

The application is being considered under the Cambie Corridor Plan.

The architect for the project is IBI Group.

The full application can be viewed here: https://shapeyourcity.ca/5763-5791-oak-st-and-1008-w-41-ave

Wesgroup acquired the two lots separately in 2017 for a combined $28.6 Million, or $147 per buildable SF based on the application.

Allaire Living and Headwater Projects has submitted an OCP Amendment and Rezoning Application for a new multi-family residential project at the southwest corner of Rochester Avenue and Guilby Street in the Burqultlam-Loughheed Neighbourhood Plan area, approximately 750 metres from the Lougheed Town Centre SkyTrain Station.

Plans for the land assembly of 10 single family lots totaling 2.1 acres includes four new multifamily buildings up to 7-storeys in height with two townhouse buildings, and the retention of 3 heritage houses. Details include:

• 197 units;
• 110 one-bedrooms, 42 two-bedrooms & 40 three-bedrooms;
• Retention of 3 heritage single family homes;
• a total density of 1.82 FAR;
• 233 parking spaces.

The OCP amendment is required to change the land use designation of the western portion of the site from Townhousing to Medium Density Apartment Residential . This change to the land use designation would allow apartment buildings on this portion of the site, to accommodate additional density to offset costs associated with the restoration and retention of three heritage homes.

The architect for the project is Integra Architecture.

A 1.9 acre site in the City Centre area of Surrey has sold for $26,888,000. The site, improved with an older strip commercial centre known as Whalley Station Square, sold to Tien Sher Developments.

The site is located 2 minutes from Gateway Skytrain Station and is designated for residential and mixed-use in the Surrey City Centre Town Centre Plan. The maximum density is 4.2 FSR inclusive of a 0.7 FSR bonus.

The price equates to $78 per buildable SF based upon the max potential density.

The site had been listed for sale for $29,888,000.

Investors Group has sold Trenant Park Square, a 138,716 square foot,
open format, grocery and drugstore anchored retail centre located in the Ladner area of Delta, B.C. to Keltic Canada, for $64,500,000, or a 4.8% cap rate. The property was built in 1989 and sits on a 9.7 acre site with future development upside.

The property was listed and sold by Jones Lang Lasalle. It is anchored by FreshCo. and London Drugs; other tenants include RBC, Dollarama, Starbucks, Cobs Bread, Subway and Kin’s Farm Market.

Keltic Development has submitted their formal development application for 220 Prior Street, a 20,000 SF site, an I-3 zoned site adjacent the future new St. Pauls Hospital that they acquired in February 2020 for $25,000,000.

The proposal for the site includes a new 10-storey office building that includes:

• 1,600 SF of retail on the ground floor;
• 16,000 SF of manufacturing/light industrial uses on the main & 2nd floor;
• 84,000 SF of medical office space;
• a total density of 5.0 FSR;
• a building height of 149 ft.;
• 173 parking spaces on four underground levels.

Under the site’s existing I-3 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is MCMP Architects.