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About Centrally Located Development Opportunity
To acquire a centrally located development site with excellent views of the North Shore Mountains. Furthermore, a prospective purchaser may have the option of developing the site under the existing zoning guidelines or rezoning for a purpose-built mixed-use rental project. The City of Vancouver offers developers certain purpose-built rental development incentives such as increased height (typically six storeys), parking requirement reductions, and development cost levy waivers under the Secured Market Rental Housing Policy (Rental 100).
The site is strategically located on the north side of East Hastings Street between Skeena and Kootenay Street in Vancouver. The site provides quick and easy access to North Vancouver, Burnaby, Highway 1 and downtown Vancouver. The area is home to excellent shopping, restaurants, Playland/ PNE, and transit (Kootenay bus loop — the neighbouring site to the east).
- Flexible development options (rental or market housing)
- Vibrant neighbourhood with ample entertainment, restaurants, and shopping
Property Taxes (2017): $87,651.46
Zoning: The site is zoned C-2C1 (Commercial). This zoning allows for a maximum floor space ratio (FSR) of 3.0 and a four storey height limit.