Richmond Review – Gilmore Estates on the block for $55 million.

One per cent of Richmond is now for sale.

The Gilmore Estates, a massive rectangular chunk of Richmond farmland, south of Steveston Highway running all the way to the waterfront, and between No. 4 Road and Shell, comprises 10 legal titles, encompasses 324.5 acres, and boasts 800 feet of waterfront. The asking price for this assembly? Well, as the saying goes, if you have to ask, you can’t afford it.

According to realtor Cecilia Tse of Colliers International, the asking price of $55 million is spot on, considering the recent sales of farmland in the area. At least two other farmable properties are also for sale in the area south of Steveston Highway, each consisting of multi-acre parcels.

“The Gilmore Estates represent 1% of the entire land area of the City of Richmond,” a four-page colour Colliers brochure states.

Read more: http://www.richmondreview.com/news/190397091.html

The City of Vancouver has developed a rezoning policy for the “Little Mountain – Adjacent Area” located at Main and 33rd to guide rezoning applications in the area next to the Little Mountain housing site soon to commence development by Holborn Group. The area is primarily comprised of single family homes, as well as 6 apartment buildings fronting Main Street, and a strata-titled complex at the corner of Main and 33rd.

The rezoning policy encourages redevelopment of this area to provide a variety of ‘ground oriented’ housing forms, with an emphasis on innovative housing types suitable for families and options to improve housing affordability. Highlights of the plan include:

• Two basic housing types: Townhouses, including stacked and courtyard forms up to 1.5 FSR and heights up to 45 ft; and Low to Mid-Rise Apartments (4 to 6 storeys) up to 2.3 FSR and heights up to 65 ft.
• Townhomes will not require a CAC on rezoning, lowrise and midrise apartments above 1.5 FSR will require a CAC of $23/SF.

Peace Arch News – Land sales focus of pre-budget debate.

Finance Minister Mike de Jong rejected NDP criticism of his government’s sale of Crown land Thursday, and promised an update on the disposal of up to 100 properties when he presents his pre-election budget on Feb. 19.

De Jong’s comments came after NDP leader Adrian Dix and finance critic Bruce Ralston visited one of the few properties whose location is known, a large vacant lot in Surrey that was bought in 1998 as a possible future hospital site.

Ralston said the government has counted on raising $475 million in 2013 and more than $200 million the following year through asset sales, to help balance a 2013 budget after the current one ends in the red by $1.4 billion.

Read more: http://www.peacearchnews.com/news/190285201.html