By ChangingCity

Here’s a new rental proposal for the Strathcona / Chinatown edge. 450 Gore Avenue is a long-abandoned gas station, and this rezoning designed by Gair Williamson would see 81 small market rental units. The design has retail on the main floor – something new for the east side of Gore.

…read more

Source: Changing City

By John Clark

The asking price isn’t being disclosed. The Vancouver Sun reported the property’s assessed value is $89.9 million.

But assessed value is a measure of the value of the real estate on which the building rests, as well as the building itself. This does not take into account the value of the business operating on the premises.

These are unrelated – at least in theory. In practice, they often become quite tangled, and not just in the tourism and hospitality sector. This entanglement is often accidental. Sometimes it’s deliberate – a subtle exercise in turning a blind eye some owners may believe will serve their tax planning objectives. Trying to shave dollars from one tax bill, however, may just end up costing you more down the road and leave you painted into a corner.

But even with the best of intentions, distinguishing real estate from business value can be a challenging valuation scenario.

When a hotel isn’t just a hotel

Take a hotel. A sale will typically include all the chattels – furniture, fixtures and equipment – plus the expectation on the part of the buyer that they have …read more

Source: RENX

Care Pacific Holdings is proposing to rezone an 8-lot assembly on the South side of West King Edward at 408-488 West King Edward Avenue. The proposal for the 57,537 SF site  is to develop 135 units of housing for seniors with a range of care requirements. The development would consist of one 6-storey and two 4-storey buildings. The proposal includes:

• 47 strata independent and assisted living units;
• 56 rental independent and assisted living units;
• 32 community care units (licensed complex care);
• a total density of 2.27 FSR of which 1.99 is above grade; and
• 57 underground parking spaces.

Boffo Properties is proposing two adjacent developments near Main and 35th in the Northeast Quadrant area adjacent the Little Mountain site.

5037-5087 Main Street

The proposal for this site is to rezone for a 5-storey building that includes 41 residential units (33 market, 8 rental) and a density of 2.5 FSR.

More info here.

5030-5080 Quebec Street

This site is also proposed for a rezoning to a 5-storey building that includes 38 market housing units and a total density of 2.3 FSR.

More info here.

The City of Vancouver has put a city-owned site in Downtown South up for sale: the Eastern Granville ‘Loop’ at the North end of the Granville Street Bridge. The loop itself will eventually be removed creating a mixed-use development site of approx. 69,900 SF.

A previously approved policy document from 2010 shows some general guidelines for what might be built (see left). The site can accomodate a tower on the Eastern portion of the site, but will also require a road dedication and some park space.

More information can be obtained here.