Steveston secondary sold to residential developer.

The Steveston secondary site has finally been sold to a residential developer.

Richmond School Board decided earlier this week to accept a conditional offer from Vancouver-based Polygon to develop the 13-acre site on No. 2 Road, just north of Steveston Highway.

The price has yet to be disclosed, but the school district was hoping for up to $50 million previously for the prime site, which has been up for sale since 2007.

Polygon, one of three preferred bidders, is expected to close the deal by Sept. 30, when all the information surrounding the transaction will be made public.

“Like most real estate deals, our purchase agreement with the school district is subject to a due diligence period where we hope to be able to assess and identify any specific issues related to the property,” said Neil Chrystal, speaking on behalf of Polygon.

45-115 SW Marine Drive Brochure

Contact David Taylor for further details.

City OKs smaller sized units.

The City of North Vancouver has agreed to reduce the minimum unit size in apartment and condo buildings.

Following a public hearing, council voted July 15 to change the minimum size requirements that currently range from 450 square feet to 850 square feet, to 400 square feet for all unit types, regardless of the number of bedrooms.

“They work in most places, so that’s the key,” said Mayor Darrell Mussatto. “I don’t think any developer is going to build a unit that’s 400 square feet for three bedrooms. That would be pretty crazy. That would be Hong Kong style.”

Though most of council approved of the changes, there was some opposition.

“Until somebody proves to me that you can make 400 square feet work as a three bedroom facility, I can’t support that,” said Coun. Rod Clark.

Thought Brentwood was already getting big with Shape Properties’ Brentwood Mall redevelopment and Appia’s Solo District? Add another large multi-phase tower project to the mix.

Concord Pacific has initiated a rezoning process for a massive 26-acre site at Lougheed Highway and Beta Avenue. Portions of the site are City-owned properties that will be sold to Concord, and much of the site are designated for high-density and medium-density residential development in the Brentwood Town Centre Plan.

While still very preliminary, the rezoning application anticipates a multi-phased highrise, mid-rise and low-rise residential development with a commercial component.The plan also includes a dedication of 7.7 acre portion of the property for a new elementary school and neighbourhood park at the Southern end of the property. The site is bordered on the South by the BNSF Railway. Dawson Street would be extended through the site to connect Beta Avenue to Douglas Road.

As we reported last week, the City decided to backtrack on proposed tower heights around Commercial and Broadway as part of the Grandview Woodland Community Plan. Now the City has responded further, by suggesting they will extend the timeline for the planning process by six months. Here is an excerpt from a motion of notice for next week’s Council meeting:

“As of July 15, 2013, 718 individuals have sent a message to Mayor and Council, noting that “the land use rezoning proposals in the ‘Emerging directions’ document and map…came as a complete surprise to the community when they were published in June 2013” and demanding at least six months more for the Grandview-Woodland Community Plan (“a reasonable period of time”) for “an open and collaborative process to discuss, debate and select preferred options with regard to these proposals.”