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commercial real estate services local vancouverThe City of Vancouver recently received an application to rezone 3868 Rupert Street from Commercial District C-1 to Comprehensive Development District CD-1, which will allow the development of a six-storey mixed-use building.
 
The proposal includes:
 
• 112 secured market rental units
• Commercial uses at grade
• A proposed floor space ratio of 3.60
• A building height of 69 ft. 
• 158 underground parking spaces
 
The 29,130 sq. ft. site is currently home to an existing 50-year-old single-storey retail building, which accommodates approximately half of the site with an at-grade parking lot. The existing retail building has a number of tenants who have established successful businesses at this location. The largest of which is Chong Lee Market, which has been trading for over 20 years. 
 
As part of this proposal, the project will provide new commercial premises for these existing tenants, which will help bolster their businesses and the local economy.
 
This project will also address the lack of affordable housing in the area and low supply of good quality rental accommodations. The application is being considered under the Affordable Housing Choices Interim Rezoning Policy.
 
To view the full Rezoning Application for 3868 Rupert Street, please click here. 
 
For more information regarding this development plan, including its impact on multi-family and retail commercial real estate opportunities in Vancouver, please contact our office to speak with one of our advisors.
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