David Taylor and Simon Lim of Colliers International have acted on behalf of the Vendor in the sale of 5970 East Boulevard, a 9,600 sq ft office and apartment building located in the prestigious Kerrisdale are of Vancouver. The property is zoned C-2 and was fully leased at the time of sale. The purchase price was $3,500,000, representing $347 per sq ft.

Next week’s rezoning hearing on Tuesday July 10th has a large roster of applications and will be sure to keep Vancouver City Council busy well into the evening.  There are a total of 10 items on the agenda for the July 10 public hearing which begins at 7:30 pm at City Hall.

Some of the more notable applications include:

800 Griffiths Way (Rogers Arena Towers by Aquilini Development)

1388 Continental Street (Neon by Cressey)

4837-4861 Cambie Street (Mosaic)

Resales volume for single family houses in West Vancouver have slowed significantly, and reflects a Metro-wide trend of a definitive swing towards a buyer’s market. June 2012 was the slowest June in over 10 years, with just 30 resales. Comparatively, there were 121 sales in June 2011. Of these 30 sales last month, 20% had dropped their asking price at least once, compared with just 10% of the sales in June 2011.

Source: MLS Statistics