Multi-Family Real Estate New Developments Retail Real Estate

New Development: 8190 Park Road, Richmond

8190parkA 95-unit, 14-storey, high-rise has been proposed for 8190 Park Road in Richmond. The development permit has been submitted by Andrew Cheung Architects, and the site is located on the corner of Buswell and Park Road in Richmond, BC. The proposed building has ground-floor retail units along Park Road.

Multi-Family Real Estate Vancouver Real Estate News

News: Developers May Face New Electric Car Requirements

electric-chargeVancouver Condo Developers may be facing new requirements as Vancouver City Council decides whether or not to require installation of Electric Car Charging terminals in at least 10% of all new Condo developments. The vote will go through on thursday. Charging stations are common in Europe and several cities in the United States, which is prompting Mayor Gregor Robertson to address this issue.

The idea behind this is that requiring developers to invest in charging stations may serve as a catalyst to potential electric car buyers to purchase these types of vehicles, and reducing their carbon footprint.

Vancouver Sun Article

Multi-Family Real Estate Recent Commercial Sales

Recent Sale: 9275 Mary Street, Chilliwack

maryHillgate Manor in Chilliwack on the Northwest Corner of Mary Street and Spadina Avenue was recently sold by John Gee of Colliers. Price paid for the Apartment was $2,791,000. Number of units total 42, and the lot area is approximately 28,000 square feet. The building is situated in downtown Chilliwack.

The Building is approximately 32 years old and had an original asking price of $3,438,000.

Original PDF Brochure

Development Land Multi-Family Real Estate New Developments Office Real Estate

New Development: Harbourside Village, North Vancouver

801harboursideConcert Properties has approached City Council with a proposal to turn the 136,000 square foot lot at 801 Harbourside Drive in North Vancouver into a large mixed-use neighbourhood. The planned community includes 525,000 square feet of residential space, and 320,000 square feet of office space. This project is still in the planning stages, and may not actually happen. One Councillor, Bob Fearnley, has already expressed his disapproval due a GVR mandate to preserve industrial land in outlying municipalities.

Property Reference:
Concert Properties Site

Original Article:
North Van News

Multi-Family Real Estate Sold Out Projects

Brownstones at 15833 26th Avenue, Surrey Sold Out

brownstonesThe Brownstones development in South Surrey at 15833 26th Avenue is finally sold out. The Town House development has 97 Units ranging from 1216 to 1750 Square Feet and sold for $212 to $323 per square foot. The project was developed and marketed by Adera Group. It is positive to see a developer selling out in times where sales are challenging.

See the project on Adera’s Site:

Multi-Family Real Estate Recent Commercial Sales

Recent Sale: 3091 Lincoln Avenue, Coquitlam

windsorgatePolygon has sold their brand new Greensborough at Windsor Gate real estate development at 3091 Lincoln Avenue in Coquitlam. The building is a 66 Unit, 4-Storey, Low-Rise apartment building, sitting on a 0.94 Acre lot zoned RM-6, which allows for 2.2 FSR Multi-Family development. The marketing website for the development is no longer available.

The asking price for the property was $11,500,000, and the selling price was $10,450,000. Sources indicate this is approximately a 6.4% cap rate.

PDF of the Floorplans Attached

Multi-Family Real Estate Recent Commercial Sales

Recent Sale: 6550 Nelson Avenue, Burnaby

6550nelsonAnother recent sale by the Goodmans, Selkirk House, located at 6550 Nelson Avenue in Burnaby, BC is a 57-Unit three-storey low-rise located a stones throw away from Metrotown Shopping Centre. The Apartment complex resides on a 0.97 Acre lot. Sale price has not been announced but the assessed value is $7,189,000, and the asking price was $6,500,000.

Multi-Family Real Estate Recent Commercial Sales

Recent Sale: 540-542 Rochester Avenue, Coquitlam

HamptonThe Goodmans have sold another apartment building located at 540-542 Rochester Ave in Coquitlam – The Hampton Carlisle. The 132-Unit Low-Rise apartment building is located on 2.19 acres of land in Coquitlam, just off Lougheed Highway and a short walk from Lougheed Shopping Centre. The Assessed value of the property and improvements is $14,148,000. Sold price has not been announced, but asking price was $15,800,000 which is a 4.2% Cap Rate.

More information including financials here:

Multi-Family Real Estate Recent Commercial Sales

Recent Sale: 535-555 Shaw Avenue, Coquitlam

555shawThe Renaissance Apartments on Shaw Avenue were sold earlier this month, brokered by NAI Commercial Real Estate. The property is improved with 111 low-rise apartment units on approximately 1.83 Acres in Coquitlam, close to the Lougheed Hwy and North Road intersection. The zoning for the area is RM-2, which allows for a 0.9 FSR, and 3-storey maximum height. The property sold for $11,950,000, and the asking price was $13,800,000.

Multi-Family Real Estate Recent Commercial Sales

Recent Sale: 2054 Comox Street, Vancouver

2054-comoxBill Goold is on a roll with another Apartment sale this month. The 23-unit apartment sold for $3,696,700. Asking price for the property was $4,200,000. The Apartment is a 3-storey plus basement, wood frame low-rise building located on 2054 Comox Street in the West End of Downtown Vancouver, close to Stanley Park.