Fastmark Development have closed on the acquisition of 523-549 East 10th Avenue in the Mount Pleasant area of East Vancouver. The site comprises an assembly of five single family lots totaling 20,139 SF.
A rezoning application for the site was published in September calling for a 19-storey rental tower with 175 units (including 33 below market) and a daycare. The total proposed density is 6.0 FSR. The application is being considered under the Broadway Plan.
The sale price was $17,500,000, or $145 per buildable SF based on the rezoning applicaiton.
The site was listed and sold by Avison Young.
