Opportunity to acquire a fully-assembled 16,104 SF corner site strategically located on the southeast corner of East 12th Avenue and Fraser Street in Vancouver’s Mount Pleasant. The site is designated for high-density mixed-use development in the recently approved Broadway Plan, allowing secured rental up to 18 storeys and 5.50 FSR, with 80% market and 20% below market residential, along with active ground floor commercial uses on Fraser Street.
The property comprises four contiguous lots with a total of 132 feet of frontage on East 12th Avenue, along with 122 feet on Fraser Street. Current improvements include two duplexes and two single family homes.
MRTC Policy Summary Table
|Policy Area||Mount Pleasant RT Areas – Area C (MRTC)|
|Option/Tenure||Secured market and below-market rental||Secured market rental|
|Max Height||18 storeys||6 storeys|
|Max Density||5.5 FSR||3.5-3.7 FSR|
|Min Frontage||36.6 m (120 ft.)||N/A|
|Notes||A minimum of 20% of the residential floor area is required to be secured at below-market rents (see Housing (Chapter 12) for details).|
10.26.2 Require continuous active ground floor retail/service uses along Fraser Street.
10.26.3 Where a lane does not currently exist parallel to Fraser Street, a dedicated lane will be required to facilitate development.
Located in the trendy Mount Pleasant neighbourhood, the site is three blocks south of East Broadway and three blocks north of Kingsway. This up-and-coming location provides convenient access to public transit and is within short walking distance to a growing list of restaurants, cafes, breweries and other everyday retail amenities. With the recently approved Broadway Plan being implemented in Fall 2022 and the Broadway Subway Line scheduled to complete in 2025, the area is poised to grow even more popular as one of the city’s premier amenity-rich destinations.
|Financing||Treat as clear title.|
For more information and details on the offering process, please contact listing agent.
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.