An assembly of properties at 1818-1862 West Broadway, on the South side of Broadway just West of Burrard Street, has sold for $56,250,000. The combined site has 300 feet of frontage and a total site area of 37,500 SF. The purchase price equates to $500 per buildable SF.
The site was listed and sold by Colliers earlier this year: http://www.collierscanada.com/19189#.WAfIb5Dn_ug
There is no word on immediate plans for redevelopment.
Reliance Properties has submitted their formal development application for the second phase of Burrard Place. The first phase includes a 54-storey condo tower that was sold out in 2015 and is now being excavated.
The second phase of the project, located at the corner of Burrard and Drake, includes a 13-storey office building, including:
The overall concept was already approved via rezoning application in November 2013.
A third phase includes a 36-storey condo tower fronting Hornby Street just north of the first tower.
The architect, IBI Group, explains the design rationale:
“Tower B is the “front door” of the proposed mixed-use development. It anchors the critical and highly visible corner of Burrard and Drake Street. As the lowest of the three towers in the development with an important architectural mandate, Tower B unifies the expression of its two primary uses as an office building and a car display showroom in one distinctive built-form. This deliberate gesture sets it apart from the podium/tower expression of the rest of the development. The Toyota showroom, occupying the lower 3 levels of the building, is highly transparent visible from Burrard st, Drake and lane. The entrance of the Toyota showroom is strategically located at the corner of Burrard and Drake where the Drake Street elevation showcases a 3-storey and highly transparent street wall acting like a giant display window of cars which are uniquely arranged on multi- levels of display showroom. The office tower is anchor ed by a cylindrical volume at the plaza level unfolds into a fluid glass wall above, fronting on Burrard Street. Three spiral shaped elements revolve dow n the west façade marking the office entrance on Burrard Street. Around the corner on Drake Street, a tapering glass wall exemplifies the vertical dimension of the tower giving it a sculptural and slim profile. For privacy and comfort, the glass skin of the entire building will be articulated with “random” placement of insulated spandrels, fritted and vision glass, further animating the appearance of the building. The new centralized core of the office floor plate simplifies the structural system and at the same time provides a high level of flexibility for either single or multi-tenant use. The sculptural building form with its articulated glass skin defines Tower B truly as a “jewel box” in downtown Vancouver.
We are pleased to introduce this 17,292 SF redevelopment opportunity at the corner of Thurlow and Burnaby Street in the West End of Vancouver. The assembled site has potential for rezoning for a 300 foot residential tower per the West End Community Plan, and is one of the last remaining opportunities to develop in this sub-area without view cone restrictions.
Download the brochure here: bro_1318-thurlow-assembly-e.
Please contact us for further details.