Values for retail properties in East Vancouver have largely been driven by rents in increasingly populated areas such as Main Street, Commercial Drive and East Hastings Street. Properties with strong tenant covenants in East Vancouver should achieve strong valuations with cap rates even below 5.00%.

SFU wants to expand, build in City Centre.

With student demand now greater than ever, Simon Fraser University is looking to double the capacity of its Surrey facility, from 2,500 full-time students to 5,000 – hopefully starting within the next three years.

That’s according to a proposal submitted by SFU to the provincial government earlier this month, looking not only for approval of the plan but funding for the project as well.

“SFU is the only research university that is trying to substantially grow its undergraduate population and that stems from our location in Surrey and the growth in Surrey and other south Fraser cities,” said Joanne Curry, SFU executive director and associate VP of external relations for SFU Surrey.

Burnaby NewsLeader – Edmonds development awaits area planning process.

The development of the vacant lot at Edmonds and Canada Way is awaiting completion of an updated Sixth Street Area Plan at Burnaby City Hall.

A four-storey mixed-use project is being proposed for the corner property at 7320 Canada Way, a former gas station site, according to a city planning report.

City staff informed the rezoning applicant, Kamcon Construction, that “substantial efforts” would have to be made to acquire and consolidate the Odd Fellows Hall property next door at 7724 Edmonds St. into any potential development.

Vancouver approves transportation strategy aimed at getting more people out of cars.

Manulife Financial’s 270,000 square foot proposed office development unanimously (8-0)passed Urban Design Panel on October 24th.  The project, which is located at the Howe Street and Nelson Street intersection, will be 16 storeys tall and have retail at grade.  980 Howe Street is in the pre-leasing phase and could be completed by 2015.

Other projects that were voted on at the October 24th meeting included:

2477 Carolina Street by Royal East Broadway Development: 2 votes for, 7 votes against

557 East Cordova Street by Boffo Properties: 9 votes for, 0 against

1729-1735 East 33rd Avenue by Cedar Cottage Cohousing Company: 2 votes for, 6 votes against