Intracorp has completed the sale of 3362 Vanness Avenue in the Joyce Collingwood area of East Vancouver for $41,400,000.
The site comprises an existing 12-storey apartment building that was assembled with a neighbouring property and approved for rezoning earlier this year for a 679-unit, two tower rental project.
The total assembly has a combined site area of 38,323 SF. The combined assembly value of $46,550,000 equates to $107 per buildable SF.
I am pleased to present the opportunity to purchase this 12,500 SF corner site in the Broadway Plan, with a rezoning designation for up to 8-storeys, 3.0 FSR. The site is located at the corner of West 12th Avenue and Alberta Street, and can be expanded via assembly of the neighbouring lot, also listed for sale.
For more information, please visit: https://www.collierscanada.com/en-ca/properties/for-sale-woodframe-rental-development-site-near-broadway-city-hall-station/can-2812-alberta-street-vancouver/can2016257
The City of Vancouver will consider a recommendation to makes changes to the West End Rezoning Policy regarding social housing requirements.
The report indicates the following recommended changes in Areas 1 & 2 of the West End Plan (depicted below):
The reduction to the inclusionary social housing requirement is recommended as an interim measure for two years until December 31, 2026, or until adoption of a new Inclusionary Zoning By-law that would supersede this rezoning policy.
Three projects have been approved for rezoning with the 25% social housing but have not yet started construction. These projects would require a new application to be granted the reduction.
The full report can be viewed here: https://council.vancouver.ca/20240924/documents/r1.pdf