A 23-unit apartment building located at 3008 Henry Street near Williams Street has sold for $3,920,000, or $170,000 per unit. The building was built in 1978 and had been listed for sale for $4,288,000.

Highrises proposed for Lynn Valley.

Neighbours are being asked to comment on two preliminary development proposals that would see three new highrise towers built in the centre of Lynn Valley.

If approved, the construction of the residential towers would begin transforming the heart of the community into the commercial and residential hub envisioned through about 15 years of planning.

The two projects – both in the “pre-application” stage, according to Bydwell – are being put forward by Safeway and Bosa, the corporate owner of the Zellers property.

Canada’s growing appetite for luxury cars has convinced a veteran auto dealer to invest more than $75 million in sales of Mercedes-Benz, Land Rovers and other high-end imports.

Dilawri Auto Group broke ground Thursday on a $25-million construction project for a new Audi dealership at the high-profile intersection of Burrard Street and West 2nd Avenue in Vancouver, as part of an expansion that includes a Porsche sales centre on Terminal Avenue and a new Mercedes dealership in Langley. Dilawri is a family-owned operation that bills itself as Canada’s largest automotive group, with operations in Ontario and Western Canada.

“We will be representing 11 brands by the time our Mercedes-Benz and Audi stores are built, and with the renovation and the relocation of our two Acura stores, it’s approximately $75 million in construction costs – never mind the original acquisition costs of the facilities,” Dilawri regional director of operations Christian Dubois said in a telephone interview.

Courtesy National Post.  To view the entire article click here: http://business.financialpost.com/2012/09/25/dilawri-makes-75-million-plus-investment-in-luxury-vehicle-trend/

A 41,000 SF waterfront development site in White Rock, B.C has been sold to a local developer for $7,700,000. The property was an assembly of multiple lots including the White Rock Mufflers site. The site is zoned CS-1 and could be redeveloped with a low-rise residential building with commercial at grade. A previous rezoning proposal included 84 residential units.

Local reaction to the sale was reported in the Peace Arch News last month.