The Boxer Group of Companies has applied to the City of Vancouver to rezone a site at 1031-1039 Burnaby Street in the West End for a market and below market rental tower.

The proposal is to allow for the development of a 32-storey rental residential building with a six-storey podium and includes:

• 329 units;
• 60-below market rental units for the VRS Communities Society;
• a total density of 12.23 FSR;
• A building height of 296 ft. with additional height for rooftop amenity space.

This application is being considered under the West End Community Plan.

The architect for the project is Urban Solutions Architecture.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/1031-1039-burnaby

70 ft. of streetfront retail on West Broadway has sold in a $5 Million deal. 2865 and 2871 West Broadway are two side-by-side, mid-block streetfront retail properties on the North side of Broadway, West of Macdonald Street.

The two buildings have a combined building area of 3,836 SF and a site area of 8,024 SF.

The properties had been listed for sale separately with a combined price of $5,506,000.

A 2-storey office building at 3066 Arbutus Street has sold to an owner-user. The 1978-era building is located on a 6,930 SF lot at the Northeast corner of Arbutus & West 15th Avenue on the Westside of Vancouver.

Details:

• Building Size: 6,311 SF
• Sale Price: $5,412,750
• Price/SF: $858

The 2nd floor of the building was vacant, with the ground floor leased to Luxmore Realty until 2027.

The property had been listed for sale for $6,800,000 by Jones Lang Lasalle.

The Vij’s Restaurant property on Cambie Street has sold. The single tenant retail property had been on the market for several months and sold to a local investor.

Details:

• Single tenant: Vij’s
• Triple net lease
• Lease expiry 2030 w/renewal options
• 6,879 SF rentable
• 4,937 SF site
• $7,450,000
• 5.60% cap rate
• $1,083/SF

The building was listed and sold by Brett Aura of TRG. The original asking price was $7,988,000.

Allied Properties REIT has announced the completion of the remaining 50% interest in M4 of Main Alley Campus in Mount Pleasant from Westbank.

Details:

• Building Size: 208,000 SF (167,000 SF office, 38,000 SF industrial)
• Year Built: 2025
• 50% Interest
• Purchase Price: $89,700,000
• $863/SF

The sale was negotiated in July and completed September 30.