Kevington Building Corp. has submitted a rezoning application for the Chevron site at 3150 Edgemont Boulevard in the Edgemont Village area of North Vancouver.

The 12,000 SF site was acquired by Kevington for $5,900,000 as part of a portfolio of gas stations sold by Parkland Corporation, through Colliers, in 2024.

The preliminary plan for the site includes a 4-storey building with:

• 33 residential units;
• 6,400 SF of commercial space;
• an underground parkade with 39 stalls.
• a total density of 3.29 FAR.

Polygon Development has submitted a rezoning application to the District of North Vancouver for a 3.5 acre site they own in the Lynn Valley Town Centre area.

The site is a combination of two properties:

• 1246-1268 Lynn Valley Road is currently occupied by two-storey strip mall.
• 3050-3174 Baird Road is currently occupied by Draycott Gardens, a 32-unit rental townhouse complex built in 1972.

The OCP designation for the site is: Residential Level 5: Low Density Apartment and Residential Level 6: Medium Density Apartment.

The rezoning application proposes four 6-storey buildings that include:

• 408 total units;
• 64 rental units (including 32 replacement rental units);
• 344 condo units;
• 27,000 SF of commercial space;
• Two levels of underground parking with 450 stalls.
• A total density of 2.50 FSR.

An overview of the proposal can be viewed here:

The site was acquired for a combined value of $59,400,000 in 2021.

A 2-storey retail and apartment building at 5853-5857 Victoria Drive, at East 43rd Avenue in East Vancouver has sold.

Details:

• Building Size: 3,082 SF
• Lot Size: 3,643 SF
• 2 retail units (local restaurant & pharmacy) + 2 one-bedroom apartment units
• Purchase Price: $2,639,000
• $/SF Building: $856/SF
• Cap Rate: Approx. 4%

The property had been listed with RE/MAX City Realty with a list price of $2,790,000.

A 10-storey concrete apartment building in the West End has sold. 1222 Pendrell Street has sold for $12,300,000, or $286,000 per unit. The 43-unit building was built in 1972.

The building contains 41 one-bedroom units and 2 two-bedroom units.

• 43 Units
  • 41 one-bedrooms, 2 two-bedrooms
• Avg. Market Rent $3.91/SF
• Assessment Value: $18,838,000
• Asking Price: $15,000,000
• Notes: “Major capital upgrades required”

The property was listed and sold by Avison Young.

1281 Broughton Street, a 31-unit building in the West End, has been sold by Reliance Properties to CAP REIT in a deal valued at $13,953,000, or $450,000 per unit.

The building is located on the Southwest corner of Broughton & Burnaby Street in the West End. The 8-storey concrete building was built in 1959 all all corner units with hardwood flooring. The building has laundry, storage, and some parking.

Details:

Lot size: 8,650 SF

The asking price for the property had been $15,900,000.

The property was listed and sold by CBRE.

Building rental listing “Twelve81”: https://www.capreit.ca/apartments-for-rent/vancouver-bc/the-twelve81/