Alabaster Homes has applied to the City of Vancouver for permission to develop a three lot land assembly at the Southwest corner of Oak Street and West 47th Avenue. The site totals 27,876 SF and was rezoned to RM-8AN under the Cambie Corridor Phase 3 Plan.
The proposal for the site is a 4-building stacked townhouse development that includes:
36 units;
one-bedroom flats & three-bedroom townhouses
unit sizes from 511 to 1,523 SF;
a total density of 1.20 FSR;
proposed height of 38 feet for the front buildings and 31 feet for the rear buildings;
37 underground parking spaces.
Alabaster assembled the site in 2018 for $14,550,000, or $425 per buildable SF.
The 8,000 SF lot at 1515 West 49th Avenue is currently an older single family house, but the proposal would allow for the development of two 3.5-storey residential buildings that would include:
9 market rental units;
8 three-bedroom townhouses and 1 caretaker suite;
Unit sizes ranging from 1,245 SF to 1,634 SF;
a density of 1.53 FSR;
a maximum height of 44 ft; and
4 off street parking spaces, 1 car share space, and 24 bicycle spaces.
A Cambie Corridor Phase 3 Townhouse site at 46-66 West King Edward has sold in a $12,730,000 to Sightline Properties. The sale equates to $471 per buildable SF.
The three lot assembly totals 22,500 SF and is located within the Townhouse area of the Cambie Corridor Phase 3 Plan. The total permitted density is 1.20 FSR.
Sightline acquired the neighbouring three lots in 2018 for $560 per buildable SF and is launching the pre-sales for their project ‘Just West‘, which will be the first phase. The six lots have now been consolidated.
Rize Alliance has submitted their development application for The Grid, a 10-storey office and light industrial project located on the South side of Terminal Avenue (306 Terminal), currently a Tim Hortons.
Under the site’s existing I-3 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.
A description of the project is provided in the application: “The project seeks to provide flexible floor plates that are suitable for all approved uses in the I-3 Zoning District Schedule. This is accomplished by providing open floor plans with generous floor-to-floor heights and robust electrical and mechanical infrastructure. Each suite is organized around a compact central core allowing for daylight penetration deep into the floorplate. Access to daylight, fresh air and views are provided through double height exterior communal spaces on the upper levels 3-10. The central core will connect tenants to a robust loading facility located on the ground floor level complete with a shared freight elevator servicing the industrial areas, and as well to an enhanced end of trip facility for commuters located on L2. The main level exterior plaza will provide opportunity for a communal social space for the occupants of the building, while also encouraging pedestrian flow from Terminal Avenue South into the Creative hub. “
First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while
