RBI Group has submitted a rezoning application to the City of Surrey for a 14,360 SF site on the south side of 97A Avenue, between 136A Street and 137 Street, in the Medical District of the City Centre Plan.

The site is designated Downtown in the Official Community Plan (OCP) and Employment in the City Centre Plan, and is zoned Neighbourhood Commercial Zone (C-5) and Urban Residential Zone (R3).

The proposal for the site is a 44-storey hotel and rental tower that includes:

• 266 hotel rooms;
• 180 rental units;
• a total density of 18.9 FAR;
• a building height of 479 ft.;
• 142 parking stalls.

The architect for the project is Group 161/DF Architecture.

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.