1045 Burnaby Street, Vancouver

FOR SALE

PROPOSED MASSING

Thurlow Street

Burnaby Street

Burrard Street

West End High Rise Development Opportunity With Strong HoldingDavie Income Street Potential

1045 BURNABY STREET, VANCOUVER COLLIERS INTERNATIONAL 200 Granville Street, 19th Floor Asking Price: $28,000,000 (3.0% Holding Yield Potential) Vancouver, BC V6C 2R6 TEL: +1 604 681 4111 collierscanada.com SIMON LIM CHARLIE HUGHES JESSICA HATHAWAY Personal Real Estate Corporation Personal Real Estate Corporation Senior Associate Executive Vice President Associate Vice President +1 604 694 7227 +1 604 661 0882 +1 604 694 7215 [email protected] [email protected] [email protected] HIGHLIGHTS

ŵŵ Opportunity to develop high-rise residential condominium building in Vancouver's West End near Sunset Beach

ŵŵ Potential for breathtaking southwest views overlooking Sunset Beach, Kitsilano and the Georgia Straight

ŵŵ Located just 400 metres from Sunset Beach and within minutes of restaurants, shopping and Vancouver's downtown amenities

ŵŵ 17,292 SF site that can be rezoned under Area G of the Burrard Corridor within the West End Community Plan

ŵŵ Up to 83,000 buildable SF based on 18-storey height (which appears to satisfy view cone requirements)

ŵŵ Up to 104,000 buildable SF possible by assembling with western neighbour

ŵŵ Within a 20-minute walk are 15 parks, 4 beaches, 3 SkyTrain stations, Pacific Centre Mall, entertainment, and some of the city’s finest restaurants SALIENT FACTS

Civic Address 1045 Burnaby Street, Vancouver, BC Legal Plan Multiple PIDs Site Area 17,292 SF Site Dimensions Approximately 132 feet of frontage along Burnaby Street and 131 feet of depth. Located on the north side of Burnaby Street between Thurlow Street and Burrard Street in Location Vancouver’s West End neighbourhood. West End Community Plan - Burrard Corridor G which provides for potential heights up to 168 feet* and tower floorplates of up to 4,420 SF with the provision of 25% social housing after view cones OCP and setbacks are accounted for. An estimated density of 4.83 FSR is achievable on the property when rezoned standalone. Working with or assembling with 1065-1075 Burnaby Street would allow floorplates of up to 5,500 SF. By assembling west, an estimated 6.0 FSR is achievable on this site. Current Zoning RM-5A (2.2 FSR) Current Improvements Currently improved with a 36-unit, 4-storey stratified apartment building constructed circa 1975. Net Rentable Area of Current 23,540 SF (654 SF average suite size) Improvements Potential Holding Income with $834,375 NOI/year (3.0% stabilized yield on Asking Price) Lightly Renovated Units Asking Price $28,000,000 *West End Community Plan allows for height of 300 feet but view cones/shadowing appear to limit the potential height to 168 feet. SITE PLAN LOCATION

This site sits in what will soon be one of the highest luxury corridors in Vancouver on the north side of Burnaby Street in between Burrard Street and Thurlow Street in Vancouver’s West End. The downtown core and the city’s finest amenities are in close proximity to the property as are Sunset Beach, English Bay, and Stanley Park just a few minutes down the road. The WalkScore and TransitScore for the property are both 97 and Lord Roberts & King George Schools are within walking distance.

There arguably isn’t a more central location for development left in Vancouver’s downtown peninsula, offering a developer the chance to build condominium surrounded by truly world class amenities. Within a 15-minute walk of the site are three SkyTrain stations, Pacific Centre Mall, Alberni Street’s luxury retailers, Robson Street’s 150 shops, English Bay Beach and Sunset Beach, and some of the city’s best fine dining.

The West End is a beautiful, quiet neighborhood that borders the Central Business District, English Bay, and the world-famous Stanley Park – likely the city’s most desirable public attraction. The area’s appeal is further enhanced by vibrant commercial corridors that feature trendy boutiques, restaurants, coffee shops, and community amenities. Centennial Rd

R a Cordova St y m u r

A v e Heatley Ave 7A

Alexander St Princess Ave

Hastings St

Pender St

Keefer St Jackson Ave Dunlevy Ave

POWELL ST

St r anl ey Park D Princess Ave Way son vi Georgia St A

Columbia St

a P

Canada Place

y e E. Commissioner l Waterfront n Water St PRIOR ST a t MAIN ST S

PENDER ST FOOD Canada Pl Abbott St 1. Kirin Restaurant Cordova St Quebec St

2. La Belle Patate Vancouver COAL HARBOUR Station St 3. Thierry Harbour HASTINGS ST S 4. Junction Green Park TA N Keefer St LE 5. Cazba restaurant Y PA 6. Banana Leaf on Davie PENDER ST RK CA 7. Starbucks Stadium/ U Chinatown SEW AY 8. Moxie’s Grill1A & Bar 9. Le Crocodile 99 Main Street 10. JOEY Burrard DUNSMUIR ST 11. Italian Kitchen Rogers Devonian Melville St Burrard 12. Blenz Coffee Pender St Granville Arena Science Harbour Park Cambie St 9 World 13. CinCin Restorante + Bar 3 10 8 Quebec St 14. Red Robin W. GEORGIA ST 99 1A 1A 15. Joe Fortes Seafood & Chop House 1 18 3 12 16. Café Crepe Alberni St 7 City 17. Guu Original Thurlow 5 20 19 Centre 12 4 15 BC Place

18. The Keg Hamilton St ROBSON ST Richards St Stadium

19. Black + Blue Beatty St

Homer St

Bute St Bidwell St 20. Coast Jervis St 13 14 7 16 10 5 11 PACIFIC BLVD

Haro St 17 4 OLYMPIC HOWE ST

SERVICES Nicola St SMITHE ST D VILLAGE 1. Esso V 1 Ave 9 2 L

Barclay St B 2. Lifelabs 3 7 O

SEYMOUR ST Chilco St

3. St. Paul’s Hospital Cardero St

1 6 X 2 Ave Mainland St

E 4. Century Plaza Hotel & Spa CAMBIE BRIDGE

DENMAN ST NELSON ST 5. TD Canada Trust Gilford St Nelson St 6. Scotiabank 4 10 7. Absolute Spa at Fairmont Hotel Comox St 4 Ave

8. HSBC Bank Bidwell St 6 7 9. ICBC Driver Licensing 3 3 Ave

10. RBC Royal Bank 1045 BURNABY STREET Hamilton St

BURRARD ST THURLOW ST

Broughton St 2 1 2 5 FALSE Beach Ave 12 2 7 6 RETAIL DAVIE ST CREEK 1. Davie St Your Independent Grocer 5 Ave 1 GRANVILLE ST 1 Ave 2. Shoppers Drug Mart 8 4 5 Yaletown/ Roundhouse 3. IGA BEACH AVE Burnaby St 4. London Drugs ENGLISH BAY Drake St

5. BC Liquor Store Hornby St

6. West End Farmers Market Bute St

PACIFIC BLVD David Lam 7 Ave AMENITIES & RECREATION Park 1. Robert Lee YMCA 2. Scotiabank Theatre Vancouver Beach Ave Olympic 3. Equinox West Georgia Street Sunset Village 4. YYOGA Downtown Flow Beach Broadway/ City Hall

CAMBIE ST

6 AVE Charleson

GRANVILLE BRIDGE Park Vanier BURRARD BRIDGE Park GRANVILLE ISLAND Heather St

10 Ave 13 Ave

14 Ave Spruce St OAK ST Laurel St

12 Ave

Alder St 4 AVE

1 Ave Willow St Birch St 2 Ave

11 Ave 3 Ave Laurel St 6 Ave 12 Ave 4 Ave

13 Ave Maple St 5 Ave W Broadway Hemlock St 14 Ave Cypress St

Burrard St 7 Ave Oak St 15 Ave 16 Ave 18 Ave

Kitsalano Beach DEVELOPMENT POTENTIAL

The property can be rezoned under the West End Community Plan ("WECP"), Burrard Corridor Area G.

Overview: After factoring in 40 foot interior setbacks, view cone 12.1.3 (from Granville Bridge), and any potential shadowing on the north side of Davie Street during the Spring Equinox, an 18-storey tower with 52 ft x 85 ft, 4,420 SF floor plates appears feasible above a 6-storey base of 5,100 SF floor plates. By assembling with the western neighbour, the floor plates can widen to 64.7 ft x 85 ft for up to 5,500 SF tower floor plates above a 6,300 SF 6-storey floor plate base. Setbacks: 40 ft interior setbacks; west sideyard setback can be relaxed 12+ ft if assembly to west occurs. WECP states that 300 feet is achievable in Area G, however the height is limited to 168 feet when Max Height: view cone 12.1.3 is accounted for. Approximately 5,100 SF base floor plates up to 6-storeys with 4,420 SF floor plates for storeys Floor Plates: 7-18 as a standalone tower; approximately 6,300 SF base floor plates up to 6-storeys with 5,500 SF floor plates for storeys 7-18 if assembled with western neighbour. Approximately 83,000 SF as a standalone tower; 62,000 SF as market condominium (75%) Buildable Area: and 21,000 SF as social housing (25%). Approximately 104,000 SF if assembled with western neighbour; 78,000 SF as market condominium (75%) and 26,000 SF as social housing (25%). General Tower Guidance: 80 ft tower separation required; tower depths should not exceed 85 ft of depth.

Burrard Corridor Burrard Corridor: Areas 'E', 'F', and 'G' • Building heights should not exceed view corridor limits (except in LEGEND accordance with the General Policy for Higher Buildings). However, where not restricted by view corridors, building heights can be considered up to Area Boundary a maximum of: Streets - Area ‘E’: 167.6 metres (550Chilco feet) St Gilford St Denman St Bidwell St Cardero StNicola St Jervis St Bute St Thurlow St Burrard St W Georgia St Park - Area ‘F’: 114.3 metres (375 feet) Alberni St Beach - Area ‘G’: 91.4 metres (300 feet) Building heights are subject to other Council-approved policies, guidelines, Robson St by-laws and urban design considerations, and a minimum site frontage of 39.6 metres (130 feet). Development proposals with frontages of less than Haro St 39.6 metres (130 feet) can be considered at the discretion of the Director of Planning, where these proposals include contributions to the Public Benefits Barclay St Strategy, including secured market rental or social housing. E Nelson St • Maximum densities will recognize urban design considerations on a site by site basis. Comox St • To maximize views and sunlight on sidewalks, residential floor plates above the podium level(s) should not exceed: Pendrell St - Areas ‘E’ and ‘F’: 696.8 square metres (7,500 square feet) F Davie St - Area ‘G’: 511 square metres (5,500 square feet)

• In Areas ‘E’, ‘F’, and ‘G’, rezoning applications to increase density can be Burnaby St considered. Where an application includes a residential component, density G increases will be considered to support the Public Benefits Strategy (see Harwood St 17.0 Public Benefits Strategy) for sites within the Downtown ODP, or to Burrard Street, looking north provide social housing for sites within the current RM-5A and RM-5B zones Pacific St (see 8.0 Housing). English Bay 1045 Burnaby Street development potential shown in red • New development in Area ‘G’ should be in the form of a tower with landscaping at grade (i.e., “tower in the park”), except for sites fronting Beach Ave onto Burrard Street, whereNearby a podium 1055 with commercial Harwood uses Street is appropriate.

City of Vancouver October 2018 West End – Tower Form, Siting and Setbacks Page 5 50 7.0 PlaCes WEST END COMMUNITY PLAN MARKET OVERVIEW

BUTTERFLY ALBERNI

DEVELOPER Westbank DEVELOPER Westbank The Pacific STOREYS 57 STOREYS 42 TOTAL UNITS 331 TOTAL UNITS 188 RELEASED UNITS 331 RELEASED UNITS 180 SOLD UNITS 306 SOLD UNITS 180 AVG. PRICE/SF $3,005 AVG. PRICE/SF $2,500

TERRACE HOUSE THE PACIFIC

DEVELOPER PortLiving DEVELOPER Grosvenor STOREYS 19 STOREYS 39 TOTAL UNITS 20 TOTAL UNITS 214

RELEASED UNITS 19 RELEASED UNITS 214 SOLD UNITS 14 SOLD UNITS 142

AVG. PRICE/SF $2,605 AVG. PRICE/SF $2,171 Butterfly

MIRABEL 1335 HOWE

DEVELOPER Marcon DEVELOPER Onni

STOREYS 19 STOREYS 40 OFFERING PROCESS

TOTAL UNITS 149 TOTAL UNITS 136 A detailed information package is available to qualified interested parties RELEASED UNITS 149 RELEASED UNITS 136 upon execution of a Confidentiality Agreement. Please contact the listing agents to learn more about pricing guidance and terms. SOLD UNITS 128 SOLD UNITS 69 AVG. PRICE/SF $1,850 AVG. PRICE/SF $2,029 Offers will be reviewed on a first come first serve basis. Asking Price: $28,000,000 Burrard Station

Thurlow Street

Burrard Street

Granville Street

SIMON LIM CHARLIE HUGHES JESSICA HATHAWAY Personal Real Estate Corporation Personal Real Estate Corporation Senior Associate Executive Vice President Associate Vice President +1 604 694 7227 +1 604 661 0882 +1 604 694 7215 [email protected] [email protected] [email protected]

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