A number of development applications have begun popping up in the West End; partially a result of the West End Community Plan that was adopted by the City of Vancouver in late 2013.

Most of these projects, including a site I sold at 1546 Nelson Street earlier this year, have an underutilized land area such as a surface parking lot or oversize backyard.

Here are  few that have come up for application this summer:

1546 Nelson Street  (sold in February for $2,050,000)

1071 Cardero Street

1529 Comox Street

The Inverness Apartments located at 1325 Pendrell Street in the West End has sold for $5,170,000, or $246,224 per unit. The two-storey,  21-unit heritage style building was listed for sale back in May for $5,275,000, or a 3.5% cap rate.

Colliers International recently facilitated the off-market sale of the 1400 Block of Alberni for $83,500,000. The two parcels on the block are improved with a highrise apartment and an office building and have a combined site area of 43,282 SF.

This attractive development opportunity encompasses an entire downtown city block, a rare occurrence in today’s market. Simon Lim represented the Vendor in the transaction.

Read more at Colliers Canada