A new rezoning application has been submitted for 486 West 26th Avenue a 10,131 SF lot at the Southeast corner of West 26th and Cambie. The application, entitled “Cambie Nexus” proposes a 12‑storey concrete rental residential tower with ground‑floor community‑serving retail.

The site was previously approved for a 6-storey, 29-unit condo project that never moved forward.

Project Snapshot

Key Stats From the Application:

• Total residential units: 52
• Unit mix:
  • 27 one‑bedroom
  • 19 two‑bedroom
  • 6 three‑bedroom
• Density (FSR): 4.91 FSR
• Building height: 12 storeys (approx. 145’)
• Parking: 18 off‑street vehicle stalls

The architect for the project is Wilson Chang Architect Inc.

The site was acquired for $11,950,000 in 2018, which equates to $240 per buildable SF based on the current application.

A 3‑storey low‑rise apartment building at 2280 McGill Street in Vancouver’s Grandview‑Woodland has sold for $5,600,000, or $280,000 per unit.

Situated on a 12,200 SF lot with 99 feet of frontage, the 1966‑built wood‑frame building comprises 20 rental units.

The purchaser was New Chelsea Society.

The property was listed and sold by NAI Commercial.

A 17-Unit apartment building located on Granville Street at West 71st Avenue has sold. The 1956 walkup apartment building is located on a 9,583 SF site.

The property allows future redevelopment up to 6-storeys in the Marpole Community Plan.

Sale details:

• Purchase Price: $7,650,000
• 5.0% cap rate
• $450,000 per unit
• 8 one-beds, 6 two-beds, 3 three-beds

The building was listed and sold by Goodman Commercial.

A 10-unit Metrotown apartment building located at 6700 Dow Avenue in the Metrotown area of Burnaby has sold. The 1968 walkup apartment building is located on a 9,118 SF site that has future high density development potential under the Metrotown Plan.

Sale details:

• $3,300,000
• 3.0% cap rate
• $330,000 per unit

The property was listed and sold the Blair McEvay team at Marcus & Millichap.

A 20-unit building at 35 East 16th Avenue in Mount Pleasant has traded in a $6,750,000 deal. Sale details include:

• $336,250 per unit
• 3.3% cap rate

The 2026 assessment value of the property is $6,172,000, down from a peak in 2023 of $7.3 Million.

The property was listed and sold by Marcus & Millichap. The original list price for the property was $8,700,000.