I am pleased to announce the sale of 1166 West Pender Street, a 140,000 SF office building located in Downtown Vancouver.  This off-market transaction closed earlier this month.

The 15-storey building was built in the early 1970’s and is located on an 18,700 SF site that may permit a higher density and height in the future.

Transaction details:

Buyer: Reliance Properties

Seller: Triovest Realty Advisors, on behalf of Greystone

Please contact me for further information regarding this sale.

Construction for The Exchange is now well above ground and becoming noticeable from street level.The construction had just reached the ground level back in December.

The 31-storey, 369,000 SF office tower is now over a year into construction, with completion slated for 2017. Aside from National Bank, there have been no major tenants announced for the building yet.

courtesy mcminsen http://po.st/WpSyw2 via @imageshack

courtesy mcminsen http://po.st/NI3oQY via @imageshack

courtesy mcminsen http://po.st/fsUIU5 via @imageshack

Here is a construction update on the second phase of Appia’s Solo District project in the Brentwood Area of Burnaby.

The first phase of the project included a tower branded ‘Stratus’, a 367-unit 45-storey tower which has just recently completed and which is substantially sold out. Burnaby’s first Whole Foods is an anchor of the retail component of the project.

The second phase of the project is ‘Altus’, a 48-storey tower at the corner of Lougheed and Willingdon that includes 284 condo units above 250,000 SF of office space on 12 floors. Pre-sales launched in 2013 and this phase of the project is also nearing sell-out.

photo courtesy mcminsen http://po.st/RDvsVU via @imageshack

photo courtesy mcminsen http://po.st/avE0BU via @imageshack

photo courtesy mcminsen http://po.st/ut93EP via @imageshack

A couple of rezoning applications make their way to public hearing next week. Public hearings are generally the last hurdle for proponents before formal enactment and development permits. Two projects going to council next week highlight some minor changes to previously proposed projects:

988 West Broadway

This 10-storey office tower project was originally approved way back in 2011, and finally went forward in 2015. The project, by BlueSky Properties, was rezoned under the Metro Core plan to allow a 5.22 FSR density, and site clearing began in late 2015.

Changes: An amendment is being requested to suit the needs of a “prospective tenant”. The original plan had been to have a common area space on the top floor. The plan now calls for the common area space to be located on the 2nd floor, with the top floor being expanded for a tenant’s use.

• Density increase from 5.22 to 5.52 FSR (heritage density is being purchased + public art contribution)

Amended proposal with additional 10th floor space

1575 West Georgia

This Coal Harbour proposal by Bosa Properties was originally unveiled in 2014. The site is currently improved with a 3-storey office building, and a small city-owned surface parking lot.

The project is moving forward with only small revisions as a result of staff recommendations and public feedback, with a one-storey reduction in height, a reduction in the unit count from 184 units to 175 units, and a reduction in density from 10.83 to 10.59 FSR.

Height context perspective. Note concept tower heights for 1500 West Georgia (Bosa) and 1550 Alberni (Westbank) and 1400 Alberni (Wall). Concept tower heights are also included on Cardero at Georgia and Alberni corners.

Here is a construction update on Serracan Properties‘ latest office building project at the southeast corner of Seymour St. and West Pender St. in Downtown Vancouver.

510 Seymour will be 82,000 square feet and 10-storeys tall. Upon completion, the majority of the building will be occupied by Adler University and shoes.com.

Courtesy mcminsen http://po.st/eCGhJv via @imageshack

Courtesy mcminsen http://po.st/zpoCdk via @imageshack