After much industry speculation, the Denny’s property has sold to a group led by local developer Anthony Pappajohn. The purchase price was $26,250,000, which equates to $467 per buildable SF for the 18,750 SF C-3A zoned site. Denny’s lease expires in April 2018, creating near term redevelopment potential.

The site had been listed for sale in late 2015 by Jones Lang Lasalle without an asking price and garnered significant interest given it’s location.

C-3A zoned properties on or near Broadway have been attracting a lot of attention due to the zone’s attractiveness with residential entitlements to 3.0 FSR. Likewise, many buyers view the long-term upzone potential in this area as an attractive feature.

Decorus Developments has filed a rezoning application for a C-1 zoned strip retail property at the corner of Broadway and Renfrew in East Vancouver. The plan for the site at 2894 East Broadway calls for rezoning from the existing C-1 to allow a new rental apartment buildings that includes:

• A new 4-storey building
• Commercial use at ground level;
• Total of 37 secured market rental units on the 3 upper storeys;
• A height of 46.4 ft.;
• A density of 2.65 FSR.

This application is being considered under the Secured Market Rental Housing (Rental 100) Program.

A rezoning application has been filed for an 11,066 SF site at the Southwest corner of Cambie and King Edward; a site that had been orphaned from the adjacent development by Dava Development, “Parc 26” now under construction and nearly sold out. The proposed plan for 512 West King Edward Avenue is for a 6-storey residential building that includes:

• 50 secured market rental units;
• a building height of 67.75 ft
• a density of 3.0 FSR;
• 37 vehicle parking spaces and 71 bicycle spaces.

The application is being considered under the Cambie Corridor Plan and the Secured Market Rental Housing Policy.

The architect for the project is Arno Matis Architecture.

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

A development application has been made for a 4,850 SF C-2 zoned site on the Northeast corner of East 36th Avenue and Victoria Drive in East Vancouver. The plan the site at 5195 Victoria Drive is for a 4-storey mixed-use project containing:

• retail and office uses on the main floor
• 10 residential units (4 one-bedrooms and 6 two-bedrooms)
• a total density of 2.41 FSR (11,626 SF)
• 9 underground parking spaces

The architect for the project is Cornerstone Architecture.