Yuanheng Developments Ltd. has purchased a 2.2 acre site on No. 3 Road just south of Sea Island Way in the Capstan Village area of Richmond, B.C. The total purchase price was $15,080,000.
Under the City of Richmond’s City Centre Area Plan, the property is designated as Urban Centre T5, which allows residential to a maximum density of 1.2 FAR, and a total density for mixed uses of 2.0 FAR. The total price per buildable square foot therefore equates to $78.03.
Vancouver city council approved a rezoning application for a medium density residential development by Wall Financial at 57th Avenue and Granville Street.
It proposes 735 dwelling units (including 202 rental units) in seven new buildings that range from three storeys to ten storeys in height. The plan will also restore many historic features of the estate, including the Beaux-Arts Mansion, Italianate Gardens, a Gate House and Coach House. Construction of the first phase could start in 2012.
The City of Vancouver has approved the rezoning of Marine Gateway, a mixed-use project located at Marine Drive and Cambie Street at Marine Station on the Canada Line.
The project includes 464 market residential units, 235,000 sq ft of office space, 235,000 sq ft of retail space, including an 11-screen theatre.
The developer is PCI Group.
Bonds Group of Companies is proposing a 40-storey tower at 1265 – 1281 Howe Street, at the Northwest corner of Howe and Drake Streets in Downtown Vancouver.
The project is proposed to include 325 market rental units, a contribution towards rental housing, 17 artist ‘work only’ studios, and retail space. The total proposed FSR is 9.19.
The proposed rezoning will be submitted later this year.
Thind Developments’ proposal to rezone 2667-2703 Kingsway has approved by the City of Vancouver.
The site is being rezoned from C-2 to CD to allow 12-storey and 4-storey buildings with a total of 129 condos and retail at-grade with a total density of 3.8 FSR.
The site is located on the north side of Kingsway between Earles Street and Duchess Street, and is within the Norquay Village Neighbourhood Centre Planning program area. The site is comprised of eight parcels currently developed with an automotive repair business and a vehicle dealership.
The architect for the project is W.T. Leung.