An application has been submitted for a 7,686 SF site  on East Pender Street near Commercial Drive in East Vancouver. The plan calls for a 5-storey  mixed-use building with two levels of office space and three levels of residential space containing 15 residential units and 14 underground parking stalls. The site is zoned MC-1, which conditionally allows a mix of uses.

The site, currently improved with a single storey industrial building, was acquired earlier this year for $1,830,000 by Epix Developments.

Groundbreaking occurred yesterday for a project that has been in the making for years. Hollyburn Properties officially commenced construction of M2 (Marlborough Tower 2) yesterday, a 14-storey rental apartment building located at the corner of 14th and Chesterfield, directly adjacent City Hall. The project had originally been envisioned back in 2005 as part of a land swap with the City, but was left as a parking lot until now.

Thank you @CityOfNorthVan @DarrellMussatto, breaking ground w/ us on 14th & Chesterfield. Purpose built #rental pic.twitter.com/wLoB8xMuWA

— Hollyburn Properties (@HollyburnPpty) October 29, 2014

The building is expected to be ready for occupancy in Summer 2016 and will contain 130 units starting at $1,100 per month. The suite mix is as follows:

• 10 Townhouses
• 6 Penthouses
• 50 – 2 Bedrooms
• 70 – 1 Bedrooms

More info on the building can be found here: http://www.rentersguide.com/marlborough-tower-2 .

The building at 1424 West Broadway, better known at the Joeys Broadway location, has sold for $14,300,000. It had been marketed for sale by Colliers in the summer and received multiple offers.

The property is leased to Joey Broadway and generates an income of $228,000. The site area is 15,265 SF and the zoning is C-3A. The buyer was a local investor.

By Paul Brent

Considering Manulife Financial Corp.owns more than 38 million square feet of real estate worth valued at about $11 billion, it is easy to overlook component parts such as its relatively new Manulife Canadian Property Portfolio.

Established in 2011 as a co-mingled fund to hold diversified real estate for Canadian institutional investors it has grown to an impressive $600 million in assets in the four main property types.

A broad and balanced investment approach is at the heart of the fund’s offering, explained the executive in charge of the fund, Timothy Blair, Manulife Real Estate’s managing director and senior portfolio manager.

“We are really looking to grow that Canadian fund by investing in Canadian assets, we are looking to be geographically diversified across Canada and we invest in the four major asset classes: office, industrial, retail and multi-family – and we are also looking at some development deals.

“. . . a good and growing portfolio,” he added. “We really focus on what I would call quality assets.”

What it owns

Notable holdings of the Manulife fund include the 22-storey 736 – 6th Avenue SW in Calgary “a great little office building,” …read more

Source:: RENX