Rental development site
1065 Pacific Street, Vancouver
The subject property represents a rare opportunity to purchase a ~13,000 SF development site just west of the Burrard Street Bridge in Vancouver’s coveted Sunset Beach seaside community. The land is situated in “Area-E” of the newly established 100% Secured Rental and Below-Market Housing as an Alternative to Condo/Inclusionary Social Housing in the Burrard Corridor of the West End Community Plan. The site currently features a 30-suite 3-storey apartment building offering consistent holding income.
Further details can be reviewed https://council.vancouver.ca/20201124/documents/r5.pdf
* Depends on assembly of neighbouring site and subject to City plans and policies. All renderings shown are for illustration purposes only. Buyer to confirm.
There are several options for prospective purchasers to consider:
- Rezone under the newly established “Area-E” of the Burrard Corridor: Allows for the development of 100% secured rental and below-market housing as an alternative to inclusionary social housing in the Burrard Corridor. Further details can be reviewed here.
- Rezone under “Area-G” of the Burrard Corridor: The site exists in “Area-G” of the Burrard Corridor which supports heights up to 300 ft in condo/social housing form, subject to other design guidelines.
- Assemble and rezone with adjacent lots: Assemble adjacent properties in order to increase site width and overall layout of future development under the West End Plan.
- Existing use: Continue to operate a 30-suite revenue generating rental apartment building with redevelopment potential.
1065 Pacific Street is the quintessential Vancouver address. Located two blocks north of Sunset Beach, the subject property is a few minutes’ walk to the Stanley Park Seawall and English Bay, along with a wide variety of shops, hotels, nightlife and award-winning restaurants. Situated near the foot of Burrard Street bridge, the location provides quick and convenient access in and out of the downtown core.
|Financing||Treat as clear title.|
For additional information, please call Cynthia Jagger at 604.912.9018 or email email@example.com.
The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.