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High Density Residential Development, West Vancouver - $27,500,000


DESCRIPTION

A Rare opportunity to purchase a well located mixed-use development site with substantial holding income in the highly coveted Park Royal neighbourhood.

Located on a quiet residential street in an increasingly desirable area of West Vancouver, this 21,828 SF residential development site is an assembly of two separately owned office buildings with potential to develop up to an 8-storey residential building with a maximum density of 2.0 FAR.

The site is located on Clyde Avenue, half a block to Taylor Way and just a 2-minute walk from Park Royal Shopping Centre. The subject site offers excellent access to public transit and Trans-Canada Highway, providing easy access to all parts of Metro Vancouver.

Its unparalleled location boasts an 8-minute drive to Downtown Vancouver, which offers the utmost blend of convenience and lifestyle amenities.

DEVELOPMENT POTENTIAL

  • Opportunity to purchase a large-scale mixed-use development site in the rarely available West Vancouver market

  • Large 21,828 SF site area and layout provides maximum flexibility for developers

  • Located in the heart of West Vancouver within immediate proximity to Park Royal Shopping Centre

  • Potential to develop up to 8 storeys with a maximum density of 2.0 FAR, subject to city approval

  • Holding income from existing office buildings offsets delays in planning process

  • The Property has all the charms, beauty and amenities offered in West Vancouver with direct access to Vancouver and the Lions Gate Bridge

  • The land surrounding the Property offers some of the most breathtaking natural scenery, parks and public open spaces in all of Canada

PROPERTY SPECIFICATIONS

  • Site Area: 21,828 SF (Combined)

  • Improvements: The Property is currently improved with two (2) office buildings with surface parking - Current in-place income will provide holding income for future development

  • Current Zoning: CR-1

  • Future Land Use High-Density Apartment Residential

  • FAR (projected): 1.75 - 2.0 outright with the option for additional 0.25 FAR to be secured as market rental

  • Gross Taxes (2016): $50,093.55

  • Assessed Value (2017): $5,026,600

LEGAL DESCRIPTION

Civic Addresses: XXX Clyde Avenue, West Vancouver, BC

Legal Description, PID: Confidential

Civic Addresses: XXX Clyde Avenue, West Vancouver, BC

Legal Description, PID: Confidential

LOCATION

Neighbouring one of Metro Vancouver’s most prominent and innovative retail destinations, the Property is ideally situated on the breadth of amenities available, the degree of walkability, and unparalleled community atmosphere.

Located on Clyde Ave, half a block to Taylor Way and just a twominute walk from Park Royal Shopping Centre, the subject site offers excellent access to public transit and Trans-Canada Highway, providing easy access to all parts of Metro Vancouver. Its unparalleled location boasts an 8-minute drive to Downtown Vancouver, which offers the utmost blend of convenience and lifestyle amenities.

To find out more about this Investment Opportunity and the FEASIBILITY STUDY of this project, please contact Han Lee at 778 789 9688.

 

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