Commercial, Land Development, Land Development Site For Commercial Sale, For Sale

880 West 15th Street

Summary

CIVIC ADDRESS 880 W 15th Street,
North Vancouver, BC
PID 011-152-206
LEGAL DESCRIPTION LOT A (REFERENCE PLAN 9784) BLOCK 5
DISTRICT LOT 265 PLAN 1406
CURRENT ZONING CS-1
PROPOSED ZONING Mixed Use Level 2 (Medium Density) (OCP) Density FSR 2.0 + Maximum Bonus FSR 0.5
SITE SIZE 0.30 Acres | 13,202 SF
OCP DESIGNATION Mixed Use Level 2
PROPOSED DEVELOPMENT 5 Storey | 41 Rental Units + 3 CRU
PROPOSED DENSITY FSR 2.66 | 35,118 Buildable SF
Bare Trust Held within a Bare Trust resulting in Property Transfer Tax Savings
PRICING $8,488,000

The Opportunity

CBRE Limited is pleased to offer for sale 880 West 15th Street, North Vancouver BC, a mixed-use rental development site with plans in place and 3rd reading passed in September 2023. 880 West 15th Street represents a rare opportunity to acquire and develop a 5-storey wood-frame purpose-built rental development site located in the rapidly growing City of North Vancouver.

The efficient 13,202 SF site fronts onto Marine Drive, one of the North Shore’s busiest thoroughfares and is located directly across the street from the 425,000 SF Capilano Mall, the North Shore’s 2nd largest regional shopping mall owned by Quadreal. The City of North Vancouver Council voted unanimously pre-approved to create a master plan for an OCP amendment to overhaul Capilano Mall, the largest development site in North Vancouver at 15 acres which will comprise a multi-phased re-development transforming the mall into a mixed-use, high-density development.

The site is located directly on the current TransLink R2 RapidBus route with a station 100M to the West, which is to be upgraded to Bus Rapid Transit (BRT) in the coming years, connecting Park Royal to Metrotown and has quick access to Downtown Vancouver via bus or SeaBus at Lonsdale Quay/Shipyards 5 minutes East.

Investment Highlights

+ Efficient 13,202 SF lot located on one of Vancouver’s busiest thoroughfares.
+ 5-storey Mixed-Use rental development on one level of underground parking, surface CRU parking with vehicular access from the lane.
+ Mayor and Council voted unanimously April 17th, 2023 to approve the rezoning application and passed 3rd Reading in September 2023.
+ Construction is concrete to level 1 slab with wood frame above.
+ Amenity rich building with common second floor amenity room, balconies, secure underground parking, bicycle storage and tenant friendly retail at grade.
+ 32 parking stalls and 73 bike lockers.
+ The development would comprise efficient mechanical and utility systems which will reduce operating costs for an owner with individually metered water and electricity all paid for by the tenants.

Property Photos

Address:
880 West 15th Street, North Vancouver, BC
$0