Two nearby tower sites in the Broadway Plan have sold in separate deals.

2210 West 5th Avenue

An 18,000 SF property at West 5th Avenue and Arbutus Street in Kitsilano has been acquired by Mondivan Group for $20,000,000.

The site is located at the corner of West 5th and Arbutus and is 125 ft by 120 ft and is located in a subarea of the Broadway Plan that permits a tower up to 20-storeys, and 6.50 FSR.

The purchase price equates to $171 per buildable SF at 6.50 FSR.

1960 West 7th Avenue

1960 West 7th Avenue is another 150 ft x 120 ft, 18,000 SF future tower site in Kitsilano that recently sold. This mid-block site on the South side of West 7th between Maple and Cypress Street sold for $23,000,000 to Gracorp.

Gracorp has already submitted a rezoning application for the site that proposes a 20-storey rental tower with 183 units. The purchase price equates to $196 per buildable SF based on the application.

Townline Homes has submitted a rezoning application for a site at the northeast corner of Davie Street and Cardero Street in the West End of Vancouver. The proposal for the 17,290 SF site contemplates the replacement of a 4-storey, 33-unit condo building with a 22-storey rental tower.

A previous DP application for this site was originally submitted by Townline in 2022, proposing a tower with 96 condo units and 32 social housing units. The existing RM-5D zoning allows 7.0 FSR with 5,500 SF floorplates.

Details of the proposal include:

• 198 market rental units;
• 20% below-market rental units (approximately 37 units);
• a total density of 8.0 FSR;
• 6,600 SF floorplates;
• A building height of 226 ft. with additional height for mechanical appurtenances.

This application is being considered under the West End Community Plan.

The architect for the project is Boniface Oleksiuk Politano Architects.

The site was acquired in 2018 for $45,250,000 or $326 per buildable SF based on the application.

I’m pleased to present for sale 1508 Everall Street in White Rock, B.C. This 17,000 SF site is a prime opportunity to build a 6-storey, woodframe rental development of approx. 50 units in an established multi-family neighbourhood with strong rental fundamentals.

The site is a 10 minute walk to the White Rock Waterfront, Semiahmoo Shopping Centre and the shops/services on Johnston Street.

Asking Price: $4,800,000

Please contact us for further details.
https://lnkd.in/gezkTGHJ