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  • FOR SALE

    855 Kingsway Vancouver, BC

    Rob Greer*, Principal 604.647.5084 [email protected] *Robert Greer Personal Real Estate Corporation

    Winnie Ng, Senior Analyst 604.647.5065 [email protected]

    Carey Buntain, Vice President 604.647.1352 [email protected]

    Chris Wieser, Principal 604.647.5089 [email protected]

    Rare opportunity to acquire a fully-rezoned, purpose-built rental development site on Kingsway

    Partnership. Performance.

  • OPPORTUNITY Avison Young is pleased to market for sale a 12,088

    square foot development site located at 855 Kingsway in

    Vancouver, BC (the “Site”). This is an exclusive opportunity to

    acquire a fully-rezoned, purpose-built rental development

    site with approval to build a 6-storey apartment building

    under the Rental 100 program. Furthermore, the City of

    Vancouver has provided a prior-to permit issuance letter in

    response to the development application submitted earlier

    this year.

    SITE DESCRIPTION Municipal Address 855 Kingsway

    PIDS 004-994-281; 004-994-183

    Legal Description

    LOT 13 BLOCK 90 DISTRICT LOT 301 PLAN 187;

    LOT 14 BLOCK 90 DISTRICT LOT 301 PLAN 187

    Site Area 12,088 sf

    Zoning CD-1 (rezoned from C-2, Commercial)

    Density 3.4 FSR (previously, 2.5 FSR allowable)

    Gross Buildable Area

    40,583 sf (after setbacks)

    Asking Price Contact listing agents

    WALK SCORE Walker’s Paradise Daily errands do not require a car.

    94

    TRANSIT SCORE Excellent Transit Transit is convenient for most trips.

    73

    Source: WalkScore.com

  • DEVELOPMENT POTENTIAL The City of Vancouver approved the rezoning application for the Site in June

    of 2018, allowing for purpose-built rental development up to 3.4 FSR in the

    form of a 6-storey apartment building. The approved application provides

    for 50 market rental housing units and commercial at grade. All residential

    units will be 100% secured market rental under the Secured Market Housing

    (Rental 100) Policy. A development application was submitted concurrently

    with the rezoning application earlier this year, and a prior-to permit issuance

    letter has been issued in response to the development permit application.

    Most conditions to receiving a development permit have been addressed and

    satisfied. The table to the right

    summarizes the City-approved

    rezoning scenario.

    PROJECT STATISTICSINVESTMENT HIGHLIGHTS f Full rezoning approval for a 6-storey, purpose-built rental development

    with commercial at grade f Prior-to permit issuance letter from the City of Vancouver for the proposed

    development plan f Located along one of Metro Vancouver’s main public transit corridors f Held in a bare trust

    Density 3.4 FSR

    No. of Storeys 6

    Parking 24 stalls

    Unit Type Proposed Average Rents 2

    Studio $1,385

    1-bedroom $1,638

    2-bedroom $2,459

    3-bedroom $3,109

    Unit Type No. of Units 1

    Studio 20

    1-bedroom 12

    2-bedroom 8

    3-bedroom 10

    Total 50

    1 Proposed unit mix for the project at 855 Kingsway.

    2 Proposed starting rents for the project in order to be eligible for DCL waiver in 2018.

    Source: 855 Kingsway Public Hearing (June 5, 2018) https://council.vancouver.ca/20180605/documents/phea5summary.pdf

  • avisonyoung.com

    Avison Young #2900-1055 W. Georgia Street Box 11109 Royal Centre, Vancouver, BC V6E 3P3, Canada

    © 2018 Avison Young. All rights reserved.

    E. & O.E.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Avison Young Commercial Real Estate (B.C.) Inc.; DBA, Avison Young.

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    j

    Partnership. Performance.

    Matchstick Coffee

    JJ Bean

    Starbucks

    Bells and Whistles

    Biltmore Cabaret

    Portland Craft

    Osteria Savio Volpe

    Les Faux Bourgeois

    Sal Y Limon

    Burgoo

    El Camino’s

    49th Parallel Café & Lucky’s Doughnuts

    M A

    IN S

    T

    BROADWAY

    E 12TH AVE

    The Duke Edgar Development

    Fraserviews Low Tide Properties

    Rob Greer*, Principal 604.647.5084 [email protected] *Robert Greer Personal Real Estate Corporation

    Winnie Ng, Senior Analyst 604.647.5065 [email protected]

    Carey Buntain, Vice President 604.647.1352 [email protected]

    Chris Wieser, Principal 604.647.5089 [email protected]

    FR A

    SE R

    ST

    KINGSWAY