Wesgroup has acquired the Chevron at 1008 West 41st Avenue (Southwest corner of Oak and 41st) for $12,249,400. The 135′ x 130′ (17,500 SF) site is currently zoned C-1 commercial, but can be potentially rezoned to allow greater density for rental housing.

Wesgroup also acquired the adjacent building and lot to the South at 5775 Oak Street earlier this year for $16,350,000.

The two sites combined would create a consolidated lot 35,980 SF in size.

A development application has been submitted to the City of Vancouver for permission to develop a 50′ x 122′ site in Chinatown with a new 8-storey mixed use building. The site is located mid-block on the North side of Keefer Street between Main Street and Gore Avenue. The existing building on site is a single-storey retail building that is vacant.

Details of the proposed development include:

• 29 residential units;
• 23 one-bedrooms and 6 two-bedrooms
• 2,838 SF of ground-floor retail space
• 12,022 SF of office space on the 2nd and 3rd floors;
• a total density of 5.35 FSR;
• 20 parking stalls on two underground levels accessed via car elevator.

Under the site’s existing HA-1A zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Development Permit Board.

The site sold in June 2016 for $6,350,000 or $194 per buildable SF based on the application.

The architect for the project is Mallen Gowing Berzins Architecture.

Anthem Properties has submitted an application to allow the construction of a 173-unit townhouse development on a 7.91 acre site, known as “Mercer Landing” at 41 and 175 Duncan Street in the Queensborough area of New Westminster.

The site was previously rezoned in 2013 to allow 48 townhouses and 425 apartment units with a total density of 1.50 FSR. 

The current proposal includes:

• 173 townhouses including 95 two-bedrooms and 78 four-bedroom units
• 2 parking stalls per unit and 37 visitor stalls
• a total density of 0.72 FSR
• 5,575 square foot site for use as a child care w/ a two storey 2,600 SF building

The site would be remediated and the perimeter dyke would be upgraded to current
standards. The City’s perimeter walkway would be extended and dedicated to the City. The foreshore area will see a demolition of existing structures and, a rehabilitation of the shoreline.

The application requires two amendments to the Official Community Plan to allow residential development in an area currently designated as (ME) Mixed Employment. A change to Parks/Community Facilities is also required to allow the child care in am location currently designated for a residential use.

Anthem acquired the site in November 2016 for $26,800,000, which equates to $108 per buildable based on the current application ($66 per buildable based on the higher density previously approved.

The architect for the project is Ekistics Architecture.

An assembly of five residential lots at Oak and West 64th in Marpole has sold to Century Eternal Group for $24,126,888, or $345 per buildable SF. The five lots comprise 250 feet of frontage on Oak with a combined site area of 28,307.5 SF.

The Marpole Community Plan designates these lots for development for multi-family residential up to 6-storeys and 2.50 FSR density.

The buyer had previously secured the seven lots to the South of the property in June 2017. The combined twelve lot assembly comprises 68,309 SF.

Here is a brief update on a project in the West End that is a partnership between Bosa Properties and Central Presbyterian Church. The property was rezoned in 2014 to allow a new 22-storey building that includes 168 units of market rental apartments and 45 units of non-market rental apartments, as well as retail space, a new church and a preschool.

photo courtesy mcminsen http://po.st/NealhU via @imageshack

photo courtesy mcminsen http://po.st/XqOWCP via @imageshack

photo courtesy mcminsen http://po.st/WEQhhh via @imageshack

photo courtesy mcminsen http://po.st/VAXF7t via @imageshack