News

Originally sold by our team in 2017 for $19,335,000 to a local investor, the property has recently changed hands after being successfully rezoned in October of 2020 and with additional rezoning potential through the Broadway Draft Plan. The approved rezoning is summarized as below: -Floor space ratio (FSR) of 7.75 -20,284 sq. ft. of retail

The Broadway Draft Plan was released March 1, 2022, after several years of delay due to various factors including Covid. There is a lot to digest in the Draft Plan and it is exciting to see all the new possibilities. While the plan may not satisfy all citizens and stakeholders, it is certainly a bold

The Broadway Plan Phase 3 – Refined Directions Engagement Summary was just released. The latest report details key feedback that resulted from public consultation held between November 4th to December 3, 2021. These findings are a result of engagement with 3,800+ people at 19 different events seeking public feedback. While overall supportive of planning initiatives, the

RENX has revealed the top 10 list for largest transactions in 2021. I am pleased to announce that our deal for the redevelopment of the Ashley Mar Co-op received the top place (#1) with an asset value of over $300 million. The future project will include 524 rental units in addition to 125 new co-op

Housing Minister David Eby proposes massive increase in housing supply to combat housing affordability in BC. When asked about levying new taxes on existing home owners to reduce demand for housing, the Housing Minister instead countered by proposing a massive increase in housing. The Minister cited “profound concern about the housing that we are not

Happy New Year After years of delay to the Broadway Plan, it seems that 2022 will see some real progress with the actual line under construction and continued pressure on the housing supply. Planners and all levels of government are desperate/anxious to increase the number of affordable rental units as one of the key election

Aspen – a 145 unit rental building on Main Street between East 6th and East 7th Avenue, has recently been completed and is currently available for rent. The City of Vancouver owned site was leased (land lease) to Catalyst Developments for a period of 60 years for an estimated $16.85 million (according to the federal

The former City Centre Motor Hotel at 2111 Main Street has sold to Nicola Wealth. The 34,848 SF site which encompasses a full block along Main Street is located in the hear of Mt. Pleasant and has excellent redevelopment potential based on the current iteration of the Broadway Plan. Located in Area G of the

Further to the recent rezoning approval of the Ashley Mar Co-op near the intersection of Marine Drive and Cambie Street (adjacent to Marine Gateway Station), Oxford Properties has made their JV partnership with Intracorp public. https://renx.ca/oxford-intracorp-jv-large-vancouver-multires-development/ Oxford Properties is the real estate arm of the Ontario Municipal Employees Retirement System (OMERS) and is committed to

The public feedback period for Phase 3 – Refined Directions closed on December 3, 2021. Over the 4 week period since the release of Phase 3, the City of Vancouver Planning Department held a combination of in-person and online events. According to the COV there were over 7,200 visitors to the Broadway Plan website, over