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Development

Polygon Acquires North Van Site in $25.5M Deal

Polygon has acquired a development site in the Central Londsale area of North Vancouver in an off-market deal. The site, located at 114–132 West 15th Street is 25,200 SF in site area and is improved with two older lowrise commercial buildings. The purchase price was $25,500,000.

The site is designated for Mixed-Use Level 4B (High Density) in the City of North Vancouver’s OCP.  While no redevelopment plans are public. the rezoning potential would allow up to 4.0 FSR density, inclusive of a 1.0 FSR bonus.

November 25, 2020by david.taylor@colliers.com
Apartment, Development, Retail

Rezoning Application Submitted for Former Esplanade Theatre Site

Cressey has submitted their formal rezoning application for the former Esplanade Theatre site in North Vancouver that they acquired in 2018. A preliminary application and public consultation took place in 2019.

The site is the second major rental development Cressey is working on in the City of North Vancouver, with 281 units proposed for a site in Central Londsale.

The 18,000 site is located at the northwest corner of West Esplanade and
Chesterfield in the Lower Lonsdale area.

The site is designated Mixed Use Level 4A (High Density) in the City of North Vancouver’s OCP. This designation allows for a maximum density of 3.6 FSR (including 1.0 bonus FSR).

The proposal calls for a new rental apartment building with retail on the ground floor. Details include:

  • 75 market rental units;
  • 23 studios, 28 one-bedrooms, 16 two-bedrooms & 8 three-bedrooms;
  • 8,700 SF of retail space;
  • a total density of 3.60 FSR;
  • 38 underground parking stalls;
  • total community benefit of $3.4M ($25/sf to OCP max, $190/sf for bonus).

The architect for the project is Rafii Architects Inc.

October 23, 2020by david.taylor@colliers.com
Apartment, Development, Retail

Plan for Harry Jerome Site Includes Two Towers, 784 Units

A rezoning application has been submitted for the Harry Jerome Neighbourhood Lands, a 24 acre site at Lonsdale and 23rd in the Central Lonsdale area of North Vancouver. 

The City of North Vancouver sold the site to Darwin Properties in 2017 on a 99-year leasehold basis as part of an RFP related to a larger scheme to build a new Harry Jerome Rec Centre across the street. The City will use the proceeds from the lease to fund the construction.

After public consultation in late 2017, the rezoning application for the site is now moving foward to allow mid-rise multi-family and commercial uses and activities contributing to a pedestrian-scale village feel. Details include:

  • Two 26-storey towers and four mid-rise buildings;
  • 784 total units including strata and rental;
  • 30 studios, 371 one-bedrooms, 340 two-bedrooms & 43 three-bedrooms;
  • 21,400 SF of retail space;
  • A total density of 2.28 FSR;
  • Maximum tower heights of 243 feet;
  • 829 parking stalls;
  • A new 1.0 hectare public park stretching along Lonsdale from 21st to 23rd. 

There is also an alternate option which includes a taller tower, up to 32-storeys, and up to 840 total units for the site. Council will decide on whether to proceed with processing the currently presented option.

The architect and planner for the project is Perkins + Will.

March 9, 2018by david.taylor@colliers.com
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