Greystar Developments has completed on the sale of a 30,300 SF site at the Southeast corner of Burrard and West 12th Avenue for a purchase price of $41.1 Million.

The site at 1770 West 12th Avenue, listed and sold by Hart Buck and Jennifer Darling of Colliers was a 41-unit lowrise strata built in the 1970’s.

The site is designated in the Broadway Plan for higher density development up to 20-storeys and 6.50 FSR. The purchase price equates to $208 per buildable SF based on the 6.50 FSR density. No rezoning applications have yet been made public.

Fastmark Development have closed on the acquisition of 523-549 East 10th Avenue in the Mount Pleasant area of East Vancouver. The site comprises an assembly of five single family lots totaling 20,139 SF.

A rezoning application for the site was published in September calling for a 19-storey rental tower with 175 units (including 33 below market) and a daycare. The total proposed density is 6.0 FSR. The application is being considered under the Broadway Plan.

The sale price was $17,500,000, or $145 per buildable SF based on the rezoning applicaiton.

The site was listed and sold by Avison Young.

A rezoning application has been submitted for the redevelopment of the Poor Italian Restaurant site at the Southwest corner of East 1st Avenue and Rupert Street in East Vancouver.

The 16,100 SF site is currently zoned CD-1 and is located within the Rupert and Renfrew Interim Rezoning Policy boundary, adopted by council in 2022. This policy allows rezonings for rental apartments in advance of the overall area plan being finalized.

The development proposal anticipates replacing the existing restaurant building with a new 6-storey mixed-use rental building with the Poor Italian Restaurant on the ground floor over 2 levels of underground parking and includes:

• 63 market rental units;
  • 16 studios, 27 one-bedrooms & 20 two-bedrooms;
• 5,700 SF of new space for Poor Italian on the ground floor;
• A total density of 3.34 FSR;
• A building height of 71 ft.; and
• 53 vehicle parking spaces and 106 bicycle spaces.

The architect for the project is Cornerstone Architecture.