A 2,344 unit residential development has been proposed by Edgar Development for a 23 acre site they own in Port Moody.

The site, known as ‘Woodland Park‘, is located at Cecil Drive and Angela Drive in the College Park neighbourhood on the Western part of Port Moody. The site is currently improved with older lowrise rental apartment buildings totaling 200 units in 19 buildings scattered across the site.

Edgar acquired the site in 2018 for $97,500,000.

The site is designated Multi-Family Residential in the OCP, which permits various building forms from three, up to a maximum of six storeys in height. The site is located outside the Evergreen Line Sub-areas and therefore has not been specifically designated for development forms higher than six storeys.

The OCP and Rezoning Application contemplates a master planned redevelopment with 18 buildings from 4 to 26-storeys in height, that includes:

• 2,344 total units
• 2,319 condo units;
• 325 below market rental units for BC Housing;
• 10,000 SF of community use space;
• 5,000 SF of retail space;
• a total density of 2.15 FAR;
• neighbourhood park, play area & multi-use path around the perimeter of the property;
• seven phases to be developed over 16 years.

70% of the site is proposed to be retained as environmentally sensitive areas/green space.

The rezoning application is still in the early stages at the Community Planning Advisory Committee. Input from the committee will determine whether the application moves forward on it’s own, or as part of a larger OCP review for the area.

The proposal would join the Flavelle Oceanfront project as by far the two largest development proposals in Port Moody history.

The architect for the Woodland Park project is Acton Ostry.

A 13,700 SF retail and office building on West 4th Avenue near Alma Street has sold for $10,500,000. The building is 2-storeys with office above retail and the site, measuring 11,191 SF is zoned C-2 commercial.

The sale equates to a price per SF of $768 for the building, or $375 per buildable SF based on the zoning. The cap rate equates to 2.8%.

The property had been listed with Macdonald Commercial.

Headwater Projects has applied to the City of Richmond for permission to rezone the former Cactus Club site on No 3 Road, at the Southeast corner of No. 3 and Lansdowne Road, just South of Lansdowne Mall. The site is 29,000 SF in total.

The proposed rezoning would permit the development of a new 15-storey purpose built rental development with ground floor retail. Details include:

• 149 market rental apartment units;
  • 13 studios, 62 one-bedrooms, 73 two-bedrooms;
• 5,732 SF of ground floor retail;
• a total density of 3.7 FAR;
• 143 parking spaces.

The project requires an OCP amendment: ” The Official Community Plan (OCP) designates the subject site as “Mixed Use”. The proposed OCP amendment and proposed rezoning are consistent with this designation. The OCP, in Section 3.3 (Diverse Range of Housing Types, Tenure and Affordability), also encourages the development of purpose-built market rental housing and allows for up to a 0.25 FAR density bonus for projects with 100% market rental housing residential use, where 100% of the units incorporate basic universal housing features, and provide at least 40% family-friendly unit sizes (having at least two bedrooms). An OCP Amendment is being brought forward in conjunction with this application to amend the Market Rental Housing Policy under Section 3.3 to introduce wording to permit additional density bonus area for new rental housing projects on a site specific basis to meet community need. Projects would still need to meet the design objectives of the CCAP. The proposed rezoning is consistent with this proposed OCP amendment. “

The architect for the project is MCM.

Austeville Properties has submitted their rezoning application for 450 West Georgia Street, a mostly vacant lot with two smaller buildings at West Georgia and Richards. The site is located between Deloitte Summit (400 West Georgia) and Telus Garden.

The proposal calls for a 23-storey office building with retail at grade. Details include:

• 374,068 sq. ft. of office space;
• 1,500 sq ft. of retail space;
• a building height 286 ft.;
• a total density of 15.65 FSR;
• 270 vehicle parking spaces and 236 bicycle spaces

This application is being considered under the Rezoning Policy for the Central Business District (CBD) and CBD Shoulder.

The architect is W.T. Leung Architects.

Two rezoning applications have been submitted by Spire Development under the City of Vancouver’s Affordable Housing Choices Interim Rezoning Policy for adjoining sites at Fraser Street and East 56th Avenue.

7280 Fraser Street

The proposal for this full block fronting the East side of Fraser between 56th and 57th includes a 6-storey building with:

• 95 market rental units;
• 8,000 SF of retail space at grade;
• a total density of 3.17 FSR;
• a building height of 67 ft;
• 71 underground parking stalls and 185 bike spaces; and
• 18 underground parking stalls and 28 bicycle spaces for the adjoining building.

724 East 56th Avenue

The proposal for this current surface parking lot on East 56th Avenue includes two 3-storey stacked townhouse rental buildings. Details include:

• 12 market rental units;
• a total density of 1.40 FSR;
• a building height of 33 ft;
• all underground parking in the adjacent building fronting Fraser.

The architect for the project is Cornerstone Architecture.

The two lots sold in December 2018 for $16,000,000, or $165 per buildable SF based on the applications.