8010 Saba Road in Richmond has sold for $24,250,000. The property is improved with a 33,456 SF retail and office building whose main tenants include HSBC and National Bank Financial. The purchase price equates to a 4.4% cap rate, or $722 per SF. The building was sold by bid process in June with no asking price.

Here is a video overview of the property by the listing agent, Cushman Wakefield:

8010 Saba Road, Richmond BC from Cushman & Wakefield | Vancouver on Vimeo.

A new light industrial/office building is being planned for a mid-block site on Railway Street, in an area East of Main Street along the CN Rail tracks. The plan for the 132′ x 53′ (6,584 SF), M-2 zoned site is for a 6-storey building including:

• retail on the ground floor, manufacturing on floors 2, 4 & 5, wholesaling on the third floor and office space on the 6th floor
• a total density of 5.0 FSR
• a building height of 100 ft.
• 3 levels of underground parking
• no building setbacks

Considered Design Inc., the landscape architect for the project, has some renderings on their website, including the one below.

Orr Development has applied to rezone a site at the Southwest corner of 49th and Main Street from C-2 to CD-1. The plan is calls for a rezoning of the site under the Rental 100 program to allow a 6-storey apartment building building that includes:

• 75 secured market rental units;
• retail space at grade
• a building height of 70.2 ft. from grade;
• a density of 3.60 FSR, and
• 80 underground parking spaces and 97 bicycle parking spaces

A development application has been made to the City of Vancouver for permission to redevelop a prime downtown corner. The site is located at the Northwest corner of Granville and Davie, and is most well-known as “Tsui Hang“, a popular late night Chinese restaurant. Tsui Hang is located in what was once a bank, built in the 1940s. The balance of the site contains older run-down one and two-storey commercial buildings. The developer is Deecorp. The architect is MCMP.

Preliminary plans call for a redeveloped site include a 7-storey mixed use building. The proposal includes the following:

• 94 residential units (75 one-bedrooms and 19 2-bedrooms)
• Retail on the ground floor;
• Total density of 3.85 FSR (3.5 max + 10% heritage bonus)
• Building height of 71 ft.
• Total floor area of 69,300 SF
• 47 underground parking spaces accessed from the lane

An existing C-2 zoned strip retail building at the corner of Oak Street and Laurier Avenue (one block North of King Edward) is proposed for redevelopment to allow a 4-storey building with retail uses on the ground floor and 11 residential units above, all over two levels of underground parking. Details for this 12,819 SF site include:

• Total density of 29,100 SF or 2.27 FSR (less than 2.5 max due to site restrictions)
• Top floor has two 2,000 SF units targeting downsizers
• Each unit gets two parking stalls
• Concrete construction with high quality interior and exterior finishes

The site was acquired by Xpec Oak Holdings Ltd. in 2014 for $7,900,000, or $271 per buildable SF based on the proposed density.