2855, 2875 & 2931 MOunTAin highwAy...executive Summary Municipal Address 2855, 2875 & 2931 Mountain...
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MOUNTAIN HIGHWAY 27 TH STREET LYNN VALLEY ROAD The Residences at Lynn Valley by BOSA Development Lynn Valley Shopping Centre Partnership. Performance. Rob Greer* , Principal 604.647.5084 [email protected] * Robert Greer Personal Real Estate Corporation Amanda Payne, Senior Analyst 604.646.8389 [email protected] Chris Wieser , Principal 604.647.5089 [email protected] Carey Buntain, Associate 604.647.1352 [email protected] 2855, 2875 & 2931 MOUNTAIN HIGHWAY NORTH VANCOUVER, BC FOR SALE A 1.24 Acre Medium Density Development Site in the Heart of Lynn Valley. Improved by Three Low-Rise Apartment Buildings Providing Strong Holding Income. Subject Property
Transcript of 2855, 2875 & 2931 MOunTAin highwAy...executive Summary Municipal Address 2855, 2875 & 2931 Mountain...
Mountain HigHway
27tH
str
eet
Lynn VaLLey road
The Residences at Lynn Valley
by BOSA Development
Lynn ValleyShopping Centre
Partnership. Performance.
Rob Greer*, Principal 604.647.5084 [email protected] * Robert Greer Personal Real Estate Corporation
Amanda Payne, Senior Analyst 604.646.8389 [email protected]
Chris Wieser, Principal 604.647.5089 [email protected]
Carey Buntain, Associate 604.647.1352 [email protected]
2855, 2875 & 2931 MOunTAin highwAynorth VAncouVer, Bc
FOR SALeA 1.24 Acre Medium Density Development Site in the heart of Lynn Valley.
Improved by three Low-rise Apartment Buildings Providing Strong holding
Income.
Subject Property
executive SummaryMunicipal Address 2855, 2875 & 2931 Mountain highway, north Vancouver
PiD(s) 014-947-536, 014-947-544, 014-947-552
Current use three (3) low-rise rental apartment buildings
Dimensions 275 ft X 196 ft
Total Site Size54,206 sf (1.24 acres)
year Built
2855 Mountain hwy 1967
2875 Mountain hwy 1967
2931 Mountain hwy 1968
units
2855 Mountain hwy 9 units
2875 Mountain hwy 18 units
2931 Mountain hwy 19 units1
total 46 units
existing Tenancy Agreementstenants are on Fixed term Leases
ZoningrL1
OCP DesignationreS6-Medium Density Apartment, 2.5 FSr
Financingtreat As clear title.
Offering ProcessProperty is held in a Bare trust. contact listing agents for more information.
Pricecontact listing agents.
1 One unit is non-conforming
opportunityAvison Young is pleased to present the opportunity to acquire 2855, 2875 & 2931 Mountain highway in north Vancouver (the “Subject Site”), a medium-density multi-family development site in the heart of Lynn Valley. the subject site is improved by three low-rise rental apartment buildings providing strong holding income. under the District of north Vancouver’s ocP the Subject Site is designated as “reS6 - Medium Density Apartment” which allows for a total density of 2.5 times the site area, equating to a potential gross buildable area of 135,515 sf.
Locationthe Subject Site neighbors the pedestrian-only Lynn Valley Village and Lynn Valley Shopping centre which are home to a variety of shops and services, including anchor tenants Save-on Foods, Shoppers Drug Mart, Bc Liquor Store, Winners and the Lynn Valley Public Library. Bosa Development’s upcoming master planned community, the residences, is directly adjacent to the Subject Site and has pre-sold approximately 83% of the first phase of the development (Building e & F) averaging $780 psf and Phase 2 (Building B & D) has already pre-sold approximately 75% at record pricing for the area, averaging $858 psf (source: NHS Live). upon completion, the residences are slated to have a total of 6 buildings with heights ranging from 4 to 12 storeys and approximately 50,000 square feet of new commercial space (including a grocery store). With essential amenities at the doorstep of the Subject Site, this property could not be in a better location for future re-development in Lynn Valley.
✓ excellent walk score of 85 for running errands and exceptional bike score of 99 – “Biker’s Paradise”, with first-rate bike lanes
✓ close to Argyle Secondary, Sutherland Secondary, Lynn Valley elementary and ross road elementary schools
✓ Walk or bike to the Karen Magnussen community recreation centre which includes a wave pool, skate park, ice rink, fitness centre, and tennis courts.
✓ Short drive to major District of north Vancouver attractions such as the capilano Suspension Bridge, Grouse Mountain, and Mount Seymour.
2855, 2875 & 2931 MOunTAin highwAynorth VAncouVer, Bc
Mountain highway
27th
Str
eet
Lynn Valley RoadLynn Valley Shopping Centre
Lynn Valley Village
Lynn Valley Village
2931 Mountain hwy2855 Mountain hwy
2875 Mountain hwy
Bosa Development’s upcoming Master
Planned Community “The Residences”
Land usethe Subject Site is located in one of the two designated town centres in the District of north Vancouver, Lynn Valley town centre. this area has been designated as a “Key Growth Area” under the ocP. the Subject Site is designated as “reS6: Medium Density Apartment” and the intent of such designation is “to provide increased multifamily housing up to approximately 2.50 FSr at strategic locations in centres and corridors. Development in this designation will typically be expressed in medium rise apartments. Some commercial use may also be permitted in this designation.” Source: District of North Vancouver OCP
DNV Official Community Plan | Schedule A 103
mAP 6: lyNN vAlley TOwN CeNTRe lAND Use mAP
DNV Official Community Plan | Schedule A 103
mAP 6: lyNN vAlley TOwN CeNTRe lAND Use mAP
subject sitesreS6
Source: District of North Vancouver
neighbouring residential Developmentthe residences at Lynn Valley have achieved some of the highest values for new condominium product in north Vancouver and have pre-sold approximately 83% of the first phase of the development (Building e & F) and 75% of the second phase. the average sale price for the first phase was $780 psf and the second phase is already commanding significantly higher pricing at an average of $858 psf. Source: NHS Live
Rendering of The Residences at Lynn Valley
27 th Street
Mounta
in h
ighway
Lynn Valley Road
subject Properties2855, 2875, 2931 Mountain hwy
the residencesBy Bosa Development
Building e
Building F
avisonyoung.com
Avison Young #2900-1055 W. Georgia Street Box 11109 Royal Centre Vancouver, BC V6E 3P3, Canada
Partnership. Performance.
© 2017 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.
Partnership. Performance.
Rob Greer*, Principal 604.647.5084 [email protected] * Robert Greer Personal Real Estate Corporation
Amanda Payne, Senior Analyst 604.646.8389 [email protected]
Chris Wieser, Principal 604.647.5089 [email protected]
Carey Buntain, Associate 604.647.1352 [email protected]
Mou
ntai
n h
ighw
ay
27th Avenue
Lynn Valley Road
Lynn Valley Elementary
Waves Coffee
Black Bear Neighbourhood
Pub
Argyle Secondary
Safeway
Lynn Valley VillageLynn Valley Main Library
Browns SocialhouseDelany’s Coffee House
Van Pet Lynn ValleyZazou Salon & Academy
Village BarberYYoga
Valley SushiPapa John’s PizzaNourish Market
Vancity Credit Unionand more...
Lynn Valley Shopping Centre
Save-On-FoodsWinners
Shoppers Drug MartBC Liquor Store
Kin’s Farm MarketWestlynn Meat & Seafood
Westlynn BakeryLynn Valley Massage Therapy
CIBCSushi5
Curves Fitnessand more...
Tommy’s Cafe
StarbucksPizza Hut
Lynn Valley Community
Recreation Centre
subject Properties2855, 2875, 2931 Mountain hwy
