Polygon Homes is proposing to rezone a site at Mountain Highway and 27th in the Lynn Valley Town Centre area for a 108-unit residential complex consisting of two apartment buildings, one of 4 storeys in height and the second, 5 storeys in height. The overall density is 1.96 FAR (before road dedication) which is in keeping with the Official Community Plan.

The site includes 7 lots currently zoned RM2 and RM3. Polygon is proposing a residential complex that will consist of two buildings connected with a central lobby area. The total number of residential units will be 108 units and will include: 9 one bedroom units, 83 two bedroom units in a mix of styles and sizes, and 16 three bedroom units.

A Chinese company listed on the New York Stock Exchange is beginning to develop residential property in the U.S., hoping to tap into the hot demand among Chinese investors for U.S. apartments.

Xinyuan Real Estate Co. purchased a site last month in Williamsburg, in the New York City borough of Brooklyn, for its first development in the U.S., a 216-unit condominium building. The company also is scouting for other U.S. projects, planning to sell about 40% of the units it builds to Chinese investors.

Chinese developers of apartment buildings have an edge over U.S. developers when it comes to reaching potential buyers in China, says Omer Ozden, an adviser to Xinyuan and other Chinese investors in the market for U.S. real estate. “If right out of the gate you can get 40% the building sold to mainland Chinese, it’s going to be a successful project.”

Read more at the Wall Street Journal.

Courtesy The Globe & Mail

North Shore Outlook – Design plans for the 1300-block of Marine Drive in West Van unveiled.

West Vancouver residents packed into district council chambers on Nov. 19 to have their say on whether a pair of buildings — one seven storeys, the other eight storeys — should be added to the 1300-block of Marine Drive.

Around 20 people, mostly seniors who live nearby, added their names to the list of speakers as overflow seating and a live-feed were set up outside the meeting room.

Many were upset about a proposed development that would take up an entire block on the south side of Marine Drive, close to the waterfront, saying the buildings would block their view, ruin the feel of the Ambleside community and cause too much traffic.

Read more: http://www.northshoreoutlook.com/news/180520711.html