Admiral Operations Ltd. has applied to the City of Vancouver for a development permit for a new townhouse project located on the West side of Oak Street between West 55th Avenue and West 57th Avenue. The site comprises two single family lots, 7239 & 7255 Oak Street.

The proposal calls for two three-storey townhouses and rowhouse buildings. Details include:

• 18 townhouse units including:
  • 3 one-bedrooms, 5 two-bedrooms & 10 three-bedroom units;
• Unit sizes ranging from 520 to 1,227 SF;
• one level of underground parking having vehicular access from the rear lane.

Under the site’s proposed RM-8AN 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 Formwerks.

The site was assembled in 2018 for $7,960,000, or $463 per buildable SF based on the application.

The above chart excludes townhouse and duplex sales.

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.