Deloitte Real Estate’s recent Crane Survey highlights a trend in retail mall ownership: there are few opportunities to buy malls, leading prospective mall owners to either build new developments or to reinvest in existing assets.

The report notes that a handful of groups own the majority of large retail assets in Metro Vancouver.

“Most of the larger shopping centres in Canada are owned by a select few groups, and they haven’t been sellers in recent years,” Andrew Evans, who co-authored the report, told Business in Vancouver.

Courtesy BIV. Read more: http://www.biv.com/article/20121113/BIV0111/121119994/0/small-business-confidence-continues-slide-in-june/mall-sales-scarcity-forcing-owners-to-reinvest-or-expand

Orr Development has applied to rezone 3002-3036 West Broadway from C-2C to CD-1 to build a 5-storey, 83-unit market rental building, with a total density of 3.5 FSR, and a height of 61 feet. A total of 26 commercial and 63 residential parking stalls are proposed. The site is 20,889 SF. Under the existing C-2C guidelines, the maximum height is 4-storeys with setbacks.

The project includes 16,000 SF of commercial space on the ground floor and includes 19 studios, 41 one-bedrooms, 19 two-bedrooms, and 4 three-bedrooms.

The rezoning application is being considered under the Rental 100: Secured Market Rental Housing Policy.

YVR confirms designer outlet switch; new site adjacent to Canada Line station.

Vancouver Airport has decided to move its proposed designer outlet shopping centre into the shadow of a Canada Line station.

The facility, being built in conjunction with UK-based luxury outlet firm McArthurGlen, will now be situated next to the Templeton station on Sea Island.

YVR had originally planned to build the outlet centre off Russ Baker Way, next to BCIT and were still preparing the ground at the site as recently as two months ago.

Steve Fame and John Gee of Colliers have sold The Langtry, located at 968 Nicola in the West End of Vancouver. The property is a 6-unit, fully furnished short-term rental property that was sold for $2,114,000, or approx. $350,000 per unit.