Plans to redevelop the Plaza of Nations have moved from public consultation in 2011 to formal application with an application to amend the existing CD-1 District By-law for the site.

The proposed amendment would allow 1.4M sq ft of residential, 350,000 sq ft of commercial, and 57,000 sq ft of community centre uses, with a total density of 3.9 FSR. The residential use will provide 1,700 to 2,000 residential units. The commercial use will provide retail, office, hotel, restaurants, and cafes. The community centre and associated uses include a daycare for 69 children, an ice rink which would provide a practive venue for the Vancouver Cancucks, and sports science centre. All required parking will be below grade. The buildings will vary in height and be up to a maximum of 30-storeys to meet view cones.

More information can be found here.

Source: City of Vancouver

Steve Fame and Casey Weeks of Colliers International have sold the Asia Imports Building at 151 West Hastings Street for $6,500,000 to Century Group.

The building, formerly known as the Ormidale Block, is a 4-storey office building half a block East of Victory Square and directly across from the Woodward’s building.

Resales activity for Downtown Vancouver condos (including the West End, Coal Harbour and Yaletown) have remained steady in recent months, with an overall average since 2010 of 220 sales per month. June 2012 is on pace to be one of the slower months in recent memory, and at a projected 142 sales based on MLS statistics, is anticipated to be one of the slowest Junes since 2000.

Source: MLS Stats (June 2012 estimated based on sales to June 19, 2012)

It appears that a slowdown is forthcoming, but unlike some areas, Downtown Vancouver is not a submarket with a glut of inventory coming on the market. This should bode relatively well for pricing for both new and resale product moving forward despite any correction in the market.

Vancouver City Council approved Westbank’s proposal for a 22 storey market residential tower under the STIR program at 1401 Comox Street in Vancouver’s West End yesterday.  Westbank originally applied to rezone the former church property in October of 2009 and after revisions to their proposal in 2010 and 2011 were successful in having the project approved.  The project will have a 7.14 FSR, stand 190 feet tall and 186 market rental units.

A rezoning public hearing has been scheduled for July 10, 2012 for a 10 storey, 89 unit Short Term Incentive for Rental (STIR) project by Cressey at 1388 Continental Street (Granville & Drake).  If approved the project will be 98.4 feet in height and have a Floor Space Ratio (FSR) of 6.99. The site, where the Maddox sales centre currently sits, has exposure to Granville Street as well as Rolston Crescent.