A rezoning application has been filed for a 12,500 SF C-1 zoned site at East 64th Avenue and Fraser Street for a 5-storey market rental building. The proposed rezoning would see the current C-1 zone go to CD-1 under the Rental 100 Secured Market Rental Housing Policy. The proposal is for a 5-storey mixed-use building that includes:

• 37 secured market rental units;
• commercial space at grade
• a building height of 52 ft. ;
• a density of 2.65 FSR; and
• 28 underground parking spaces.

The site sits just one block from the Super 8 Motel, which is in preliminary planning for a rezoning and redevelopment, including multi-family housing.

Anthem Properties have submitted a rezoning application for the Ridgeway School Annex site, a 62,285 SF site at East 5th and Ridgeway Avenue in the City of North Vancouver; a few blocks East of Lonsdale. Anthem acquired the site from the North Vancouver School District in 2013, subject to rezoning. Since the announcement of the sale, Anthem has been holding community consultation.

The site is an “L” shape and was originally nine single family lots before the development of the Ridgeway School in the 1950’s. The site is currently zoned P-1 Institutional, but the plan is to rezone to reflect the surrounding RS-1 single family area. The plan calls for nine single family homes, each with coach houses.

A development application has been filed for a triangular site at the Northeast corner of Fraser Street and East 17th Avenue. The site is zoned C-2 which allows for a maximum density of 2.5 FSR. Project details include:

• 4-storey building
• retail/restaurant use on the ground floor (fronting Fraser Street)
• residential units on the 2nd, 3rd and 4th storeys
• total of 30 condo units
• 29 underground parking spaces

The site does not include the small lot just to the North on Fraser. The architect notes: “Our development team has approached the owner on a number of occasions to purchase the site but we have been unsuccessful in assembling it into the parcel.”

The site was acquired in 2007 by Mangat Property Group Ltd. for $2,000,000, or $67 per buildable SF.

Mount Pleasant has increasingly become a target for new residential development given the attraction to primarily a younger demographic. Resales data for the last 6 months in Mount Pleasant shows an average resales value of $686 per SF for units less than 4 years old at time of sale.