Sightline Properties has submitted a rezoning application for a site at 1125 West 10th Avenue in the Fairview neighbourhood of the Broadway Plan. The site is 100′ x 125′.

The proposal is to allow for the development of a 21-storey rental building that includes:

• 162 units with 20% of the floor area for below-market units;
• 1,900 SF of retail space on the ground floor;
• a total density of 9.06 FSR;
• a building height of 224 ft. with additional height for rooftop amenity space.

This application is being considered under the Broadway Plan.

The architect for the project is Ciccozzi Architecture.

The full application can be viewed here: https://www.shapeyourcity.ca/1125-w-10-ave

A strip mall located at 8989-8999 Young Road in Chilliwack has sold for $5,675,000, equating to a 5.60% cap rate.

The 18,127 SF building is fully leased and located on a 32,255 SF site. The OCP for the site allow future redevelopment for up to 4-storeys residential mixed-use.

Jack Allpress and Joey Yoo of Marcus & Millichap represented the Sellers in the transaction.

The latest Broadway Plan rezoning application is for an 18-storey tower at 360 East 14th Avenue in the Mount Pleasant area of East Vancouver.

The site is located just West of Mount Saint Joseph Hospital. The plan for the site includes:

• 137 units with 20% of the floor area for below-market rental units;
• a total density of 6.50 FSR;
• A building height of 186 ft.

This application is being considered under the Broadway Plan.

The architect for the project is Stuart Howard.

The full application can be viewed here: https://www.shapeyourcity.ca/360-e-14-ave

A 20-unit building at 2575 Windsor Street, in the Mount Pleasant area of East Vancouver, has sold for $6,600,000.

The building is described by listing agent Mark Goodman: “Windsor Apartments is a well maintained three-storey 20-suite apartment building in Mount Pleasant, one of Vancouver’s most sought-after rental markets. Built in 1967 on a 12,047 SF lot (99’ x 122’), the building features 20 one-bedroom suites, 8 parking stalls (4 covered, 4 surface), 12 storage lockers, and one set of leased washer / dryer.”

Sale metrics:

• Cap Rate: 3.20%
• Price per Unit: $330,000

The property is also located in an area of the Broadway Plan that allows high-density residential. The property had been listed for sale for $7,100,000.

I’m pleased to announce the sale of 3030 Gilmore Diversion in Burnaby. This 47,000 SF office building is located on a 1.5 acre site.

The sale price was $16,200,000.