45-115 SW Marine Drive Brochure

Contact David Taylor for further details.

Sharp Villa Apartments, a 126-unit apartment complex located at the Northeast corner of SE Marine Drive and Fraser Street has sold for $11,750,000, or $93,250 per unit. The 3-storey building is located on a 1.2 acre site and has several retail units on the ground floor.

City OKs smaller sized units.

The City of North Vancouver has agreed to reduce the minimum unit size in apartment and condo buildings.

Following a public hearing, council voted July 15 to change the minimum size requirements that currently range from 450 square feet to 850 square feet, to 400 square feet for all unit types, regardless of the number of bedrooms.

“They work in most places, so that’s the key,” said Mayor Darrell Mussatto. “I don’t think any developer is going to build a unit that’s 400 square feet for three bedrooms. That would be pretty crazy. That would be Hong Kong style.”

Though most of council approved of the changes, there was some opposition.

“Until somebody proves to me that you can make 400 square feet work as a three bedroom facility, I can’t support that,” said Coun. Rod Clark.

STELLARTON, N.S. — Empire Company Ltd. announced a plan Wednesday to sell 68 Safeway properties in a sale-leaseback deal with Crombie REIT for $990 million in cash.

The company, which owns the country’s second-largest grocer Sobeys Inc., said the properties involved in the sale are located in British Columbia, Alberta, Saskatchewan and Manitoba.

Metro Vancouver Properties Sold:

In early June, Empire signed an agreement to buy more than 200 grocery stores from Canada Safeway Ltd. in a $5.8-billion deal. At the time, it said that it intended to finance the acquisition with a $1 billion sale-leaseback that it would first offer to Crombie REIT.

“We are pleased to announce this sale leaseback transaction between Sobeys and Crombie REIT,” Empire president and chief executive Paul Sobey said in a statement.

“The sale proceeds will be used by Sobeys to assist in the funding of the Canada Safeway acquisition which provides Sobeys with a much stronger presence in Western Canada and allows them to benefit from increased economies of scale.”

Read more: http://business.financialpost.com/2013/07/24/empire-sells-68-safeway-properties-to-crombie-reit-in-990m-deal/

Thought Brentwood was already getting big with Shape Properties’ Brentwood Mall redevelopment and Appia’s Solo District? Add another large multi-phase tower project to the mix.

Concord Pacific has initiated a rezoning process for a massive 26-acre site at Lougheed Highway and Beta Avenue. Portions of the site are City-owned properties that will be sold to Concord, and much of the site are designated for high-density and medium-density residential development in the Brentwood Town Centre Plan.

While still very preliminary, the rezoning application anticipates a multi-phased highrise, mid-rise and low-rise residential development with a commercial component.The plan also includes a dedication of 7.7 acre portion of the property for a new elementary school and neighbourhood park at the Southern end of the property. The site is bordered on the South by the BNSF Railway. Dawson Street would be extended through the site to connect Beta Avenue to Douglas Road.