North Van city mulls how to handle amenity contributions.
Today, it boasts little more than the shells of a furniture shop and Chinese restaurant, both long out of business. But, like many unused sites in the Lower Lonsdale neighbourhood, 127 E. Third St. has caught the eye of a developer.
BT Investments is proposing a seven-storey mixed-use development for the 125-foot-wide site. Last month, plans for the plot — which include 43 strata units ranging in size from studios to two-bedroom suites, four retail spaces and 18 market rental apartments, with a covenant that will bind them as rental units in perpetuity — went to a town hall meeting.
Concert Properties has closed on a three-acre site on Quebec Street at East 1st Avenue in the Southeast False Creek area of Vancouver for $47,000,000.
The site was listed for sale by Translink last year as part of the sale of several surplus properties to generate funds for a revolving land account that the transit authority will use to acquire properties for development.