Rental Development Site

Multi-Family for Sale
Catylist Listing ID: 30266458
Property Subtypes: Low-Rise/Garden
Number of Units: See Agent
Building Size (RSF): 14,341 SF
Gross Building Area: See Agent
Sale Price: See Agent
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 1/17/2019

Overview / Comments

Set on the north-facing slope between Hastings Street and Vancouver’s working port, the Cedar Cove sub-area provides an important stock of affordable rental housing in a setting that enjoys views towards the harbour, the North Shore mountains and downtown. The primary residential building forms include low-rise apartments, townhouses and duplexes as well as some single-family housing.

Cedar Cove has a number of social, cultural and recreational amenities. Pandora Park is a key green space, as are other smaller parks elsewhere in the sub-area, particularly along Wall Street. Cedar Cove is also home to the Aboriginal Mother Centre, Tillicum Annex and several social housing buildings. The ARC (Artist Resource Centre) is a well-known live-work arts space. Dundas Street bisects the sub-area and although it is a busy arterial connector,
it has the potential to become a mixed-use node that is the focus of local-serving shops and services for this corner of Grandview-Woodland.

The plan for the Cedar Cove sub-area will maintain the existing rental housing stock but allow for new rental housing to be introduced at an incremental pace. By managing change over the time, the plan strives to allow renters to remain in affordable accommodations within the neighbourhood into the future and minimize displacement of tenants. The plan will also facilitate the development of a compact, mixed-use cluster of shops and services to serve the local needs of this neighbourhood. Vancouver’s port and industrial lands play a critical role in the economy of the city and the region; the employment function they
support will continue to be protected through plan policies.

Additional Details

Nearest CMA: Vancouver
Regional District: Greater Vancouver
Parcel ID: 006-282-075
Zoning: RM-3A

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Photograph of Listing Agent

Eugen Klein

Royal LePage Sussex Klein Grp
Commercial First Member
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