A two-storey office building at 1525 West 8th Avenue has sold for $19,500,000. The building sits on a 13,680 SF C-3A zoned property and has potential for redevelopment in the future to include residential. Based on the anticipated base density of 3.0 FSR, the price equates to $475 per buildable SF.

The building had been listed for sale earlier this year. Here is a promotional video outlining the property, including a rendering of a potential future condo tower on the site:

1525 West 8th Ave, Vancouver, BC from Cushman & Wakefield | Vancouver on Vimeo.

Here is a construction update for a residential project that is located on a fairly prominent corner across from City Hall at West 12th Avenue and Cambie Street. The Spot is a 125-unit, 8-storey concrete condo project on a former White Spot restaurant site (the site is owned and being developed by parent company Shato Holdings).

Sales for the project began in the spring of 2015, and construction began last fall. The project is now 100% sold out.

courtesy mcminsen http://po.st/lCYJdG via @imageshack

courtesy mcminsen http://po.st/NHH1lp via @imageshack

courtesy mcminsen http://po.st/3t9Hj4 via @imageshack

Here’s an update on one of Vancouver’s most unheard of projects. It’s an 18-storey residential tower on the site of what used to be the Legg Residence, a heritage mansion that was demolished in order to protect a tulip tree on the site.

The project started construction in 2014 after years of delays, and now appears to nearing completion of the exterior build.

courtesy mcminsen http://po.st/eL1TFc via @imageshack

courtesy mcminsen http://po.st/qXukw2 via @imageshack

courtesy mcminsen http://po.st/UGXXYs via @imageshack

courtesy mcminsen http://po.st/2ekvpc via @imageshack

Conwest Residential has applied to the City of Vancouver to develop a new townhouse project on a 13,490 SF RM-7 zoned land assembly in the Norquay Village area of East Vancouver. The site is located on Ward Street, just West of Earles Street. Details of the proposal include:

• 16 townhouse units in two buildings
• a total density of 1.20 FSR (16,188 SF);
• a building height of 37.42 feet
• 12 surface parking spaces having  vehicular access from the lane;

Under the site’s existing RM-7 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 b2 architecture inc.

An interesting proposal has surfaced for a 33-foot lot on Commercial Drive at the corner of Napier Street. The site, which is improved with a 2-storey heritage commercial building built in 1908, is now being planned for heritage preservation with an infill apartment building at the rear lane.

Details of the proposal include:

• retaining the existing 2-storey Heritage B building (now occupied by Moja Coffee)
• a new 5-storey infill residential building with 8 rental apartment units at the rear of this site;
• a maximum height of 48.5 feet;
• a density of 2.70 FSR (10,108 SF);
• one-car share parking space having vehicular access from the lane;
• removal of one street tree on Napier Street.

Under the site’s existing C-2C1 zoning, the application is conditional and requires the approval of the planning department. For this project, relaxations would be required on building height and some setbacks. The application references incentives under the Rental 100 program.

View from Napier St – existing heritage building on the right

View from rear lane

The architect for the project is Cornerstone Architecture.

The property was listed for sale in 2013 and sold for $1,690,000, which equates to approx. $125 per buildable SF when the existing building is taken to account.