Vancouver Market - Chronicling Investment and Development Activity in Metro Vancouver
Development, Retail

Plan for Granville & 6th Highlights Trend for Small Site Infill

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.

1510 West 6th_2

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)

1510 West 6th

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.
November 18, 2014by david.taylor@colliers.com
Apartment, Development, Office

Mixed-use Building Planned for East Van

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.

1647 E Pender_2

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

1647 E Pender_1

November 18, 2014by david.taylor@colliers.com
Apartment, Development

Hollyburn Building Portfolio the Old Fashioned Way

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.

“We’re sort of in an environment where it’s a perfect storm of economic factors that allow for rental construction today that weren’t really available nine years ago,” said Hollyburn director David Sander to the North Shore News,  noting construction costs have come down and stabilized, the rental market has strengthened and financing for construction is at all-time low interest rates.

MARLBOROUGH+II_1 M2_2The 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 .

October 30, 2014by david.taylor@colliers.com
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