Onni announced via instagram today that they have acquired the 12.5 acre Gilmore Station area lands from Standard Life. The site, which is partially vacant, and partially occupied by industrial and office buildings, sold for a reported $110 Million.
The City of New Westminster is optimistic it will sell Merchant Square, if this year’s budget is any indication.
Colleen Ponzini, the city’s manager of financial services, said the 2014 budget projects the sale of the Merchant Square officer tower that’s now under construction on Columbia Street. If the city doesn’t sell the office tower, she said the city would see a “significant increase” in bank charges related to the loan authorization bylaw.
“The plan is to have it sold, and we pay it back in this current year,” she told council at its Jan. 20 committee of the whole meeting.
According to Ponzini, the city will be incurring some new debt under the loan authorization bylaw. She said a good portion of the $570,000 debt would be for Anvil Centre and the office tower.
New Westminster city council received a staff report on the 2014 to 2018 financial plan, which includes the 2014 budget. The city is proposing a 1.28 per cent tax increase in 2014, which would rise to 2.59 per cent if a number of priority initiatives proposed by staff are included.
The owners of an papartment building on Oak have applied for a development application to redevelop an existing apartment property they own at 2975 Oak Street (at West 14th). The proposal is permitted under the existing RM-3A zoning, but required City approval. The plan includes:
- Heritage designation of the existing structure
- 50 market rental units
- A total density of 2.8 FSR
Bogner Development Group is proposing to rezone a former Church site on West Boulevard (2095 West 43rd Avenue) from RM-3A to CD-1 to allow a 6-storey rental apartment building under the Rental 100 program that includes:
- 56 secured market rental units;
- a density of 3.25 FSR
- commercial uses at grade; and
- 29 underground parking spaces.
Read more: http://former.vancouver.ca/commsvcs/planning/rezoning/applications/2095w43rd/index.htm
Hotel development planned for site of Troll's Restaurant in Horseshoe Bay
District of North Van council sends proposed CapU student housing tower back to drawing board via @NorthShoreNews
First Capital REIT acquired by Choice Properties and KingSett for $5.2-billion
First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while