Scotiabank has sold their branch location at the Northwest corner of Dunbar and West 41st Avenue for $14,000,000, or $343 per buildable SF based on current redevelopment potential. The 16,320 SF, C-2 zoned property was put up for sale on the market in 2015. The buyer is Luxurious Property Ltd.

Next Pacific has applied to rezone an 11,128 SF, two lot assembly site at 151-157 West 41st Avenue from RS-1  to CD-1 to allow a townhouse development that includes:

• a 4-storey building on West 41st Avenue;
• a 2.5-storey building on Woodstock Avenue;
• 15 residential units between 833 SF – 1,847 SF
• a total density of 1.9 FSR; and
• 19 underground parking spaces and 25 bicycle spaces.

The application is being considered under the Cambie Corridor Plan and Riley Park/South Cambie Community Vision. The architect for the project is DYS Architecture.

A development application has been filed for a new townhouse project in Marpole; one of nearly a dozen that have been brought forward in the new RM-8 zone created in the Marpole Community Plan in 2014. The proposal in question is by Alabaster Homes for a 22,027 SF site at 8107-8123 Shaughnessy Street (one block East of Oak). The site comprises an assembly of four existing single family lots. The proposal includes:

• 15 courtyard townhouse units (1,426 – 1,712 SF)
• 3 & 4-bedroom units
• three 2.5 storey buildings
• 28 ft. courtyard
• one level of underground parking

Existing 4-single family houses

The architect for the project is Formwerks Architectural.

Alabaster has other townhouse projects in the works in Marpole, including Osler Residences (currently in pre-sales) and Oak & Park.

Construction for The Exchange is now above ground. The 31-storey, 369,000 SF office tower at the corner of Howe and Pender began construction in late 2014 and has involved the complex retention of the original Vancouver Stock Exchange building (475 Howe). The new building is slated for completion in early 2017. National Bank is signed on as the first major tenant, occupying 45,000 SF.

Photos courtesy mcminsen http://po.st/5Xmz1b via @imageshack

I am pleased to announce the sale of a 5-lot, 39,448 SF land assembly in the Lions Gate Village area of North Vancouver for $7,435,000. The lots have now been designated for townhouse development in the Lower Capilano Peripheral Area Plan. The buyer is PC Urban.