Bentall Kennedy, on behalf Sun Life, has applied to the City of Vancouver to rezone a one and a half acre existing apartment property known as Forte Apartments at 1755 West 14th Avenue from RM-3  to CD-1. The application is being made under the City’s Rental 100 program to allow a 100% market-rental development, including:

• retention of the existing 13-storey, market-rental building;
• the addition of two new buildings:
  • a 12-storey apartment building;
  • a 3-storey townhouse building;
• the addition of 122 new market-rental units in the two new buildings;
• a proposed total denisty of 3.56 FSR;
• 89,129 sq. ft. of new floor area

IMG_0059, a photo by blazzzinred [vancityhotshots] on Flickr.

New Nordstrom building under construction.

Mayan Apartments, a 16-unit apartment building at West 3rd and Maple Street in Kits, has sold for $4,275,000, or a 3.9% cap rate and $267,000 per unit. The building had been listed for sale for $4,785,000.

The Arts and Crafts building located at 576 Seymour Street has sold to an offshore investor for $15,200,000, or $430 per SF.

The 35,411 SF C-Class building is located on the East side of Seymour between Dunsmuir and West Pender Streets. The cap rate was 4.4%.