I am pleased to introduce this Burnaby development opportunity, allowing up to 6 strata units under Burnaby’s forthcoming R1 SSMUH zoning.
Further information: https://www.collierscanada.com/en-ca/properties/for-sale-burnaby-multiplex-lot/can-4394-moscrop-street-burnaby-v5g-2g2/can2015319
Two nearby tower sites in the Broadway Plan have sold in separate deals.
2210 West 5th Avenue
An 18,000 SF property at West 5th Avenue and Arbutus Street in Kitsilano has been acquired by Mondivan Group for $20,000,000.
The site is located at the corner of West 5th and Arbutus and is 125 ft by 120 ft and is located in a subarea of the Broadway Plan that permits a tower up to 20-storeys, and 6.50 FSR.
The purchase price equates to $171 per buildable SF at 6.50 FSR.
1960 West 7th Avenue
1960 West 7th Avenue is another 150 ft x 120 ft, 18,000 SF future tower site in Kitsilano that recently sold. This mid-block site on the South side of West 7th between Maple and Cypress Street sold for $23,000,000 to Gracorp.
Gracorp has already submitted a rezoning application for the site that proposes a 20-storey rental tower with 183 units. The purchase price equates to $196 per buildable SF based on the application.
The District of West Vancouver has released a report outlining their response to Provincial Bill 44: Housing Statutes (Residential Development) Amendment Act that requires municipalities to allow for Small Scale Multi Unit Housing (SSMUH) on all single family and duplex zoned lots by June 30, 2024.
West Vancouver has taken the approach that the vast majority of their lots are not subject to the legislation since “the definition of “Restricted Zone”….does not encompass parcels that permit single-family dwelling, secondary suites and detached secondary suites (coach house). Consequently, the District’s RS1-5 and RS7-10 zones are not “Restricted Zones” and not subject to SSMUH requirements.”
The report goes on to outline that there are only 222 parcels affected by the proposed zoning
amendments, constituting 1.6% of residential lots in West Vancouver and resulting in a theoretical net increase of 363 units in zoned capacity.
Below is a map, outline in orange, those single family lots which are within 400 metres of frequent bus service and therefore will require update to allow up to 6-units.
It is expected that the zoning bylaws will be updated by the June 30, 2024 deadline.
Townline Homes has submitted a rezoning application for a site at the northeast corner of Davie Street and Cardero Street in the West End of Vancouver. The proposal for the 17,290 SF site contemplates the replacement of a 4-storey, 33-unit condo building with a 22-storey rental tower.
A previous DP application for this site was originally submitted by Townline in 2022, proposing a tower with 96 condo units and 32 social housing units. The existing RM-5D zoning allows 7.0 FSR with 5,500 SF floorplates.
Details of the proposal include:
This application is being considered under the West End Community Plan.
The architect for the project is Boniface Oleksiuk Politano Architects.
The site was acquired in 2018 for $45,250,000 or $326 per buildable SF based on the application.
The District of North Vancouver is currently working on updating their zoning bylaws in response to the Province’s housing legislation regarding Transit Oriented Areas (TOAs) and Small-Scale Multi-Unit
Housing (SSMUH).
TOAs in the District of North Vancouver
There are two TOAs in the District: Phibbs Bus Exchange (the Phibbs TOA) and Capilano University Bus Exchange (the Cap U TOA) (see maps below).
The District estimates that the TOAs will see 1,800 units developed over the next 10 years, and that the overall theoretical maximum build out would see approximately 5,500 additional new units above the existing OCP.
SSMUH in the District
Bill 44 requires the District to approve a zoning bylaw that complies with SSMUH requirements by June 30, 2024, by allowing small-scale, multi-unit housing in zones that would otherwise be restricted to single-family dwellings or duplexes.
The SSMUH legislation requires that all residential zones permit a minimum of 3, 4 or 6 units depending on their size and proximity to frequent bus service.
Many of the lots in the District are located in creek, slope and wildfire hazard development permit areas and are therefore exempt.
Here’s the breakdown on lots under SSMUH:
Full PDF versions of the SSMUH maps can be viewed here: https://www.dnv.org/sites/default/files/phipo-maps.pdf
Further information can be viewed here: https://www.dnv.org/community-environment/new-provincial-housing-legislation