200 ft 3998 Granville St TROPHY DEVELOPMENT PROPERTY Multi-Level Townhome Redevelopment Potential
THE POTENTIAL PLAN LAURIER AVE 200 ft AN GR GRANVILLE 200ft LE VIL West Elevation (Granville) 100ft THE VISION & POTENTIAL DEVELOPMENT IDEAS North Elevation (Laurier) South Elevation (Lane) Adult/Senior Living - Downsizing Single Floor Luxury Townhomes High-End Rental Units High-End Townhomes
Subject Property Active Developments Completed Luxury Townhome Development THE LOCATION Located on the very prominent intersection of Granville Street and West King Edward Avenue, this is the first block as you enter First Shaughnessy in Vancouver, BC. 7 min Shaughnessy s central position in the Lower Mainland and the appeal of the neighbourhood has led to new and active developments in the area. Additionally, a mere 5-minute drive away is the popular South Granville shopping district, home to many shops, retailers, and an abundance of fine cuisine and art venues. Enjoy excellent proximity to Downtown Vancouver, along with beautiful view corridors of the downtown skyline, North Shore Mountains, and the English Bay inlet. Neighbouring amenities include Safeway, gas stations, banks, pharmacy, fitness clubs, cafés and schools. Nearby parks include Shaughnessy Park, Granville Park and Douglas Park. GRANVILLE PARK SHAUGHNESSY PARK W 16 AVE DOUGLAS PARK VIL AK O AN GR LE SHAUGHNESSY 1 WARD AVE W KING ED Active developments by Acton Ostry Architects, Regeneration Design, Loy Leyland Architect and Diamond Architectural Group are in the immediate area of the subject site.
THE DETAILS THE SCENARIO The non-heritage, post-1940 property is currently improved with a recently renovated four-level split family home. It features a modern contemporary design with an open-concept layout by RodRozen Designs. Movato Home Magazine featured the property as 2016 Georgie Award winning 5,350-sf residence. Civic Address: 3998 Granville Street Vancouver, BC V6H 3L2 Featured article available at: naibc.ca/wp-content/ uploads/2017/09/vancouverhome-spring2016.pdf Legal Description: PL VAP4502 LT 1 BLK 69 DL 526 LD 36 Scenario 1: Total Project Buy Out Developers and Investors have the opportunity for a total site buy out, below pro-forma land acquisition cost. This allows for 100% control of the project and design direction to be entirely determined by the buyer. Scenario 2: Joint Venture THE OPPORTUNITY This offering represents a rare opportunity for an investor or developer to acquire a multi-level townhome redevelopment site in prominent First Shaughnessy District. The subject property is ready and awaiting a permit application to allow for a potential 2.5 FSR. On this 20,000-sf site, it is estimated that there could be a potential approval of up to 50,000 sf in redeveloped townhomes. A developer/investor has the opportunity to begin the application process while earning owner leaseback income from the current home owner. Once the redevelopment application has been approved, the developer/investor will have the ability to capitalize on the recent surge in pricing for high-end townhomes in the First Shaughnessy District. Note: The FSR is subject to a development application and scheme being approved by the City of Vancouver. The current zoning on the site is FSD (First Shaughnessy District) and upon current zoning the FSR is stated as 0.25. Any purchaser should satisfy themselves as to the potential of the site. PID: 011-530-073 Site Size: 20,000 sf LAURIER AVE GRANVILLE THE PROPERTY The current owner would look to sell the site at a reduced cost to an investor/developer interested in completing a Joint Venture with the present owner. Scenario 3: Pre-Zoning Investment Dimensions: 200 ft x Potential Gross Buildable Area: 50,000 sf Zoning: FSD Property Taxes (2017): $14,069.42 The pre-zoning investment is the opportunity for an investor looking to place capital or gain a sales profit, on the overall development plan the owner is positioned for, after successfully achieving rezoning on the entire planned development site. W KING EDWARD AVE CURRENT IMPROVEMENTS The most exclusive, highly valued west side development corridor in Canada.
200 ft 100 ft 3998 Granville St No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and the same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice, and of any special listing conditions imposed by our principals no warranties or representations are made as to the condition of the property or any hazards contained therein are any to be implied. Aerial images courtesy of Google, DigitalGlobe. Current Improvements photos courtesy of Movato Home Magazine - Spring 2016. NAI Commercial 1075 W Georgia St, Suite 1300 Vancouver, BC V6E 3C9 +1 604 683 7535 naicommercial.ca