Investors Group has sold Trenant Park Square, a 138,716 square foot,
open format, grocery and drugstore anchored retail centre located in the Ladner area of Delta, B.C. to Keltic Canada, for $64,500,000, or a 4.8% cap rate. The property was built in 1989 and sits on a 9.7 acre site with future development upside.

The property was listed and sold by Jones Lang Lasalle. It is anchored by FreshCo. and London Drugs; other tenants include RBC, Dollarama, Starbucks, Cobs Bread, Subway and Kin’s Farm Market.

Keltic Development has submitted their formal development application for 220 Prior Street, a 20,000 SF site, an I-3 zoned site adjacent the future new St. Pauls Hospital that they acquired in February 2020 for $25,000,000.

The proposal for the site includes a new 10-storey office building that includes:

• 1,600 SF of retail on the ground floor;
• 16,000 SF of manufacturing/light industrial uses on the main & 2nd floor;
• 84,000 SF of medical office space;
• a total density of 5.0 FSR;
• a building height of 149 ft.;
• 173 parking spaces on four underground levels.

Under the site’s existing I-3 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

The architect for the project is MCMP Architects.

Reliance Properties has submitted a development application to rehab and expand a building that they own at 837 Beatty Street in Downtown Vancouver.

The plan includes preserving the existing 2-storey heritage warehouse/office building constructed in 1911, and adding three additional floors of office space. The site is zoned DD is 6,992 SF.

A previous proposal for a 26-storey residential tower was not supported by the City due in part to shadowing on Terry Fox Plaza.

Details include:

• retail uses on the ground floor;
• office uses on the 2nd to 5th floors;
• rooftop amenity space;
• a total building area of 39,000 SF;
• modern mass timber beams and columns and laminated timber floors;
• steel elements to provide code compliant lateral resistance;
• a building height of 90 ft.;
• a density of 5.50 FSR including a 10% heritage density bonus;
• loading is located in the lower level having vehicular access from the lane.

Under the site’s existing DD zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Development Permit Board.

Reliance acquired the site in 2015 for $9,880,000.

The architect for the project is OMB Architects.

A rezoning application is going to public hearing at the City of Burnaby next week for Phase One of Aoyuan‘s “The Grove” project in the Brentwood Town Centre area. Phase One is located at the corner of Willingdon and Dawson and extends along the North portion of the site to the corner of Alpha Avenue.

The 8-acre master plan project is located at the Southeast corner of Willingdon Avenue and Dawson Street. Aoyuan acquired the site, which consists of seven parcels currently improved with older industrial buildings. The master plan was approved in 2019.

Details of Phase one include:

• Two condo towers, 36 & 43-storeys;
• One 6-storey non-market rental building;
• 868 condos;
• 453 Studios, 95 One-bedrooms, 256 Two-Bedrooms & 69 Three-bedrooms;
• 80 non-market rental units;
• 55,000 SF of office and retail space;
• a total density of 8.62 FAR;
• Tower heights of 387 ft and 456 ft.;
• 1,175 parking stalls.

The architect for the project is IBI Group.

A rezoning application has been submitted by Transca Development for a 29,019 SF, four-lot land assembly on West 49th Avenue, adjacent Langara/49th Station.

The proposal for 427-477 W 49th Avenue is to allow for a mixed-use development with a 14-storey market residential tower on top of a 4-storey podium.

Details include:

• 128 condo units;
• 24 studios, 45 one-bedrooms, 45 two-bedrooms & 14 three-bedrooms;
• 11,000 SF of retail space;
• 4,700 SF of childcare space on the 5th floor with outdoor space;
• a total density of 3.99 FSR;
• A building height of 173 ft.;
• 130 vehicle parking spaces and 220 bicycle parking spaces.

The application is being considered under the Cambie Corridor Plan.

The application describes the design rationale: “Our proposed development deviates from the Phase 3 suggested massing as it proposes one single tower of 14 storey as opposed to 2 towers of 11 and 8 storeys respectively. A single tower form allows a for bigger separation to the future tower development to the north and expands the open space above the podium, which will form part of the proposed childcare facility.

The tower floorplate has been reduced from the allowable 6,500 sq.ft, to 6,000 sq.ft. in exchange for additional height. This minimizes the tower width and its impact on the properties to the north. The proposed tower has been pushed away from the west property line to allow for more openings on the west elevation and to achieve an 80 ft. separation from the future tower to the north.”

The architect for the project is GBL Architects.

The site was assembled in 2016 for $25,000,000 or $229 per buildable SF.

The site had been listed for sale in 2019.