Below is a snapshot of the housing price index for East Vancouver and Westside single family homes relative to Westside condos (including downtown). Of note, while average single family house prices in East Vancouver did not experience as much inflation as the Westside did in 2012, recent price gains are now tracking right along with the Westside.
It would be an interesting analysis to determine how much speculation and redevelopment activity is playing into house price increases.
Data source: REBGV HPI
Serracan Properties have submitted a rezoning enquiry for a site at 725 SE Marine Drive, at the corner of Fraser and Southeast Marine Drive. Currently occupied by a 6-storey, 100-room Super 8 Motel, and formerly known at the Blue Boy Motor Hotel since it was originally built in 1963; the 1.77 acre site is currently zoned CD-1.
As the existing CD zoning only allows hotel and retail uses, Serracan is now seeking a rezoning to allow a mix of uses, including residential. The site falls under the Sunset Community Vision, which allows site-specific rezoning only after preliminary planning work and community consultation is completed. Serracan, in conjunction with planning consultancy Brook Pooni, have already been consulting with the surrounding neighbourhood since 2013 and appear to have positive feedback from the community.
City council need to confirm that they will consider a rezoning application for the site before it goes to the application process.
Early concepts for the site include:
- Commercial, community uses and residential
- Towers ranging from 15 to 26 storeys
- A neighbourhood food store
- Public benefits including: childcare, community facilities, affordable housing
- Negotiated community amenity contribution (as opposed to fixed rate)
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