CAN$3,888,000
This is an exciting property in the Riley Park Area of Vancouver. It is a long time commercial property that has been an auto repair use for many years. The Main Street policy for this area, as approved by Council, is to encourage an improved shopping street with nearby residential that will be easy walking distance to shops and transit. Rental housing proposals are also encouraged with a variety of incentives available.
The C2-zoning allows for up to 2.5 FSR in a building with retail at grade and 3 – storeys of residential above, as is the case with the neighbour to the north. Although the existing zoning is valuable and viable (as witnessed by the redevelopments to the north), the potential exists in this area located near a centre of redevelopment (Little Mountain) and along a heavily serviced transit corridor, for a rezoning application of moderate height and density increases.
