We are pleased to present this unique opportunity to acquire a fully functioning private school property in North Vancouver. Located on a 6.5 acre site, the school contains all the facilities of a typical school including classrooms, library, gym/auditorium, cafeteria and boarding facilities with 350 dorm beds.
An 11-unit apartment building, known as Bel Aire Apartments at 6356 East Boulevard, has sold for $4,710,000, or $428,000 per unit, or a 2.10% cap rate. The buyer is East Boulevard Property (Westland) Ltd. The building had been listed for sale for $5,000,000.
A development application has been filed by Next Pacific Ventures Ltd. for a 6,754 site on East Pender Street near Clark Drive. The plan for the I-2 zoned property at 1257 East Pender Street includes:
- a 7-storey industrial building
- 20,262 SF of floorspace (6,700 SF of office and 9,200 SF of workshop space)
- manufacturing and general office uses
- 2 levels of underground parking
The application is conditional under the I-2 zoning, which permits a height up to 100 ft. and allows some general office space in conjunction with industrial uses.
An interesting development application was submitted this week for a property at the Southwest corner of Granville and 6th, owned and occupied by Zonda Nellis. The plan is relatively unique since the site is only 30′ x 120′ (3,600 SF). The site is zoned C-3A so the density max of 3.0 FSR is conditional. It is exceedingly rare to see a site of this scale seek a DP for a density as high as 3.0 FSR. Sometimes this type of plan makes sense on corner sites if assembly isn’t possible, or if as the case may be here, the property has been owned for a long time and the cost base of the land is quite low.
The plan calls for the existing single-storey retail building to be replaced with a 5-storey mixed-use development with retail at grade and four levels of residential above, with one level of underground parking below. Details include:
- 2,464 SF of retail space (3 CRUs)
- 8,336 SF of residential space
- A total density of 3.0 FSR (10,800 SF)
- A total of 4 parking stalls (one per residential floor)
Zonda Nellis has had her designer clothing shop on the site for over 20 years. She would like to redevelop her site with a mix of residential units and retail so that she may combine her work and family life in one location. It has also one level of underground parking and storage accessed by a car lift off the lane. The site is too small to accommodate a traditional underground parking layout. It will be interesting to see if smaller sites such as this will increasingly seek to maximize density without assembling neighbouring properties.