FOR SALE RIO THEATRE 1660 EAST BROADWAY, VANCOUVER, BRITISH COLUMBIA
STEPS FROM COMMERCIAL-BROADWAY TRANSIT HUB
HIGH DENSITY RESIDENTIAL DEVELOPMENT SITE
FOR MORE INFORMATION, PLEASE CONTACT: Robert Veerman David Ho Sales Representative Personal Real Estate Corporation Investment Properties Senior Vice President 604 662 5139 Investment Properties [email protected] 604 662 5168 [email protected] This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Mapping Sources: Canadian Mapping Services [email protected]; DMTI Spatial, Environics Analytics, Microsoft Bing, Google Earth. THE OFFERING CBRE is pleased to offer the opportunity to acquire a 6,350 sq. ft. development site with opportunity to assemble on 1660 East Broadway, more notably known as the Rio Theatre. 1660 The property is located near thesouth-west corner of Commercial Drive and East Broadway, and is within EAST BROADWAY walking distance of both the VCC Clark and Commercial-Broadway Station. The lot measures 50’ x 127’. Vancouver | BC
EAST BROADWAY COMMERCIAL DRIVE Broadway Station Commercial EXECUTIVE SUMMARY
CIVIC ADDRESS 1660 East Broadway
TOTAL SITE SIZE 6,350 sq. ft. (Approx) CURRENT IMPROVEMENTS SITE DIMENSION The lot is currently improved by the Rio Theatre, a multidisciplinary art house built in 1938. The Theatre 50’ x 127’ seats 420 people, including a balcony section
DESIGNATED FSR Interior 4.0 FSR NEIGHBOURHOOD Grandview-Woodlands
IMPROVEMENT Theatre Building The venue was used primarily as a movie theatre until its evolution in 2008, since then it has hosted a plethora NOI of events such as Hollywood blockbusters, local independent filmmaters, local and international film festivals, comedy events, burlesque shows, political events, religious services, and other live music performances. $100,000 OCP DESIGNATION ++FSR: up to 4.0 ++Height: up to 10 storeys ++“Consider applications for additional height, density and relaxations on the Rio Theatre 10-Storey Development and sites directly adjacent to it, in order to support renewal and expansion of the cultural facility ++Minimum 150ft frontage along Broadway Subject Property
OFFERING HIGHLIGHTS
Strong Assembly Potential The Subject Property is in an ideal position for a development assembly with the adjacent properties. Under the current OCP, the City will consider applications for additional density and height for the Rio Theatre, raising the potential of the Property and adjacent properties it is assembled with. Amenities The Property benefits from being in close proximity to schools, parks, such as WC Shelley Park and the China Creek North Park. They are also serviced by the numerous family-friendly amenities offered along “The Drive” including restaurants, shops, services and transit. Future residents will have immediate access to Safeway, Shopper’s Drugmart, and various food options two blocks south along East Broadway Developing Neighbourhood The Grandview-Woodlands neighbourhood is set to evolve to accomodate new low and mid- rise residential building forms, incrementally replacing existing affordable housing stock. Furthermore, the mixed-use, transit oriented redevelopment of Commercial & Broadway sites (Safeway etc), will develop the area and give residents the opportunity to live, work, shop, and play within close proximity to regional transportation networks. High Demand In spite of the lower sales volume in the suburban sub-markets during the latter half of 2016, supply of new multi- family homes continue to lag behind demand. There have been more new multi-family homes sold than unsold units at the end of each quarter for eight consecutive quarters since then. Accessibility The Property is situated in between two major points of transfer for commuters. Commuters have access to the Expo, Production Way, and Millennium lines, as well as VCC-Clark. The 99 B-line (Metro Vancouver’s busiest bus route) also runs through the neighbourhood, giving residents plenty of transportation options. Residents are also only 15 minutes from downtown Vancouver via public transit or car. Strategic Location The Property is strategically located by the intersection of East Broadway and Commercial Drive, providing prime exposure for ground floor retail foot traffic from commuters.
INVESTMENT IN THE AREA UPCOMING DEVELOPMENTS TRANSIT UPGRADES 1619 - 1651 EAST BROADWAY - JAMESON
SAFEWAY SITE - WESTBANK
10-STOREY - 93 UNITS • New fourth platform • Pedestrian walkway above Broadway to link Expo & Millennium platforms ($60 Million) • Widened Crossing over Grandview Cut rail line to 11 TO 24-STOREY - 649 UNITS reach Millennium platforms FOR SALE FOR MORE INFORMATION, PLEASE CONTACT: Robert Veerman David Ho 1660 EAST BROADWAY Sales Representative Personal Real Estate Corporation Investment Properties Senior Vice President VANCOUVER, BRITISH COLUMBIA 604 662 5168 Investment Properties [email protected] 604 662 5168 [email protected]
SAFEWAY DEVELOPMENT SITE 15 MINUTES TO METROTOWN> 6 Commercial Broadway SKYTRAIN STATION 4
MILLENIUM LINE 9 5 7 2 1
15 MINUTES TO NORTH BURNABY <15 MINUTESEXPO TO DOWNTOWN LINE DEVELOPMENT OPPORTUNITY 3
COMMERCIAL DRIVE
EAST BROADWAY
DEVELOPMENT SITE JAMESON 8
1 Starbucks 2 CIBC Bank 3 Scotiabank 4 Shoppers Drug Mart 5 Broadway Station Medical clinic 6 Safeway Development Site 7 AB Dental Clinic 8 Jameson Development Site 9 Macdonalds 10
CBRE Limited | 1021 West Hastings Street | Suite 2500 | Vancouver, BC V6E 0C3 | www.cbre.ca
This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved. Mapping Sources: Canadian Mapping Services [email protected]; DMTI Spatial, Environics Analytics, Microsoft Bing, Google Earth.