Plan to redevelop North Delta Inn property put on hold.

DELTA – A controversial redevelopment proposal that would result in the construction of highrises in North Delta is on hold.

According to Delta’s planning department, the applicant behind the project for the North Delta Inn property has put the submission on the back burner until design plans are once again revised.

Colliers has released their Q2 2012 retail market report. The retail market in Metro Vancouver has been consistently active with many landlords, retailers and investors experiencing the benefits of a high-priced market.

Highlights from the report:

• The overall vacancy rate for Metro Vancouver increased from 2.7 percent in Q4 2011 to 3.9 percent this quarter
• Accounting for the majority of increased vacancy is Chilliwack moving from 4.3 percent in Q4 2011 to 10.9 percent this quarter, Richmond moving from 1.9 percent in Q4 2011 to 6.2 percent this quarter.
• Deal velocity remained consistent so far this year with many lower priced properties trading hands, while deal volume has slowed
• The federal government increased duty-free limits for cross-border shopping, which went into effect on Jun 1, 2012, putting further pressure on Canadian retailers

Source: Colliers International

Next week’s rezoning hearing on Tuesday July 10th has a large roster of applications and will be sure to keep Vancouver City Council busy well into the evening.  There are a total of 10 items on the agenda for the July 10 public hearing which begins at 7:30 pm at City Hall.

Some of the more notable applications include:

800 Griffiths Way (Rogers Arena Towers by Aquilini Development)

1388 Continental Street (Neon by Cressey)

4837-4861 Cambie Street (Mosaic)

Plan for 33-storey tower clears more hurdles.

Despite protests from neighbours to the east and residents directly around the site, a new 33-storey tower straddling the border of Coquitlam and Port Coquitlam received yet another green light Monday.

Coquitlam council unanimously granted second and third readings to a rezoning application designed to accommodate a new development at the corner of Westwood Street and Lincoln Avenue.

Plans to redevelop the Plaza of Nations have moved from public consultation in 2011 to formal application with an application to amend the existing CD-1 District By-law for the site.

The proposed amendment would allow 1.4M sq ft of residential, 350,000 sq ft of commercial, and 57,000 sq ft of community centre uses, with a total density of 3.9 FSR. The residential use will provide 1,700 to 2,000 residential units. The commercial use will provide retail, office, hotel, restaurants, and cafes. The community centre and associated uses include a daycare for 69 children, an ice rink which would provide a practive venue for the Vancouver Cancucks, and sports science centre. All required parking will be below grade. The buildings will vary in height and be up to a maximum of 30-storeys to meet view cones.

More information can be found here.

Source: City of Vancouver