Oakridge Mixed-Use Development Site with Holding Income 132’ X 140’ (18,480 SF) 5763-5775 Oak Street, Vancouver, BC

For Sale

Oakridge Mixed-use development site WITH hOLDING iNCOME 132’ X 140’ (18,480 SF) 5763-5775 Oak Street, Vancouver, BC

O t

West 41st Avenue

David Goodman Mark Goodman* Cynthia Jagger Greater Vancouver’s authority Direct 604 714 4778 Direct 604 714 4790 Direct 604 912 9018 on selling apartment buildings [email protected] [email protected] [email protected] and development sites *Personal Real Estate Corporation www.goodmanreport.com Oakridge Mixed-Use Development Site

3/28/2017 Scale: 1:1256 Public VanMap

West 41st Avenue Site Plan

140’ ak Street  O 132’  West 42nd Avenue

Opportunity Property summary To acquire a strategic and centrally located Westside development site with good Municipal Address 5763-5775 Oak Street, Vancouver holding income adjacent to major arterial routes at West 41st Avenue and Oak PID 010-228-471, 010-228-497, 010-228-543 & 010-228-560 Street in Vancouver, BC. The site is rectangular in shape, totalling 18,480 SF, with Legal Description Lot E, F, G & H of Lots 12 to15 Block 995 District Lot a C-1 Commercial zoning designation. The existing zoning allows for commercial 526 Plan 8152 mixed-use development of 1.2 floor space ratio (FSR). The site is situated in Current Zoning C-1 Commercial (1.2 FSR) the Cambie Corridor Phase 3 plan which is currently under review. Given its Lot size 132’ x 140’ (18,480 SF) location and zoning, the site would be ideal for redevelopment under the Rental Future Land Use Cambie Corridor Plan – Phase 3 (draft) 100: Secured Market Rental Housing policy which allows for a FSR of 2.5 and Development Potential 46,200 SF buildable (under Rental 100 Program for generally a height of 4 storeys offering a potential of 46,200 SF of buildable area. C-1 sites) Improvements 2-storey commercial with office above and ground Location floor retail The subject property is located in a prominent and central Westside location Property Taxes (2016) $113,064.80 along Oak Street at W. 42nd Avenue. This area is highly coveted with easy and Financing Treat as clear title efficient access to Downtown Vancouver (11 minutes), YVR Airport (12 minutes) and UBC (15 minutes). Close proximity to traditional bus service, the Canada Line rapid transit system as well as excellent retail and amenities. Walking distance Price $16,500,000 to Oakridge Shopping Centre, the JCC, VanDusen Botanical Garden, Queen Price/SF $357 (at 2.5 FSR*) Elizabeth Park and Montgomery Park. BC Children’s Hospital, Women’s Hospital NOI ~$359,000 and Vancouver General Hospital are all located within a 4-8 minute drive north. Cap Rate 2.24% The area features many new developments which have been constructed or are *requires City approval under the Rental Housing Policy for C-1 sites proposed under the City of Vancouver’s Cambie Corridor Plan. Panel

10.1 Panel FOCUS AREAS FOCUS AREAS 10.1 BACKGROUND + ANALYSIS BACKGROUND + ANALYSIS

REMAIN IN FOCUS AREAS REMAIN IN FOCUS AREAS UPDATED EXPLOREUPDATED MORE THAN EXPLORE MORE THAN for potential ground-oriented GROUND-ORIENTED HOUSING for potential ground-oriented FOCUSGROUND-ORIENTED AREA BOUNDARIES HOUSING housing (e.g., townhouses) FOCUS AREAhousing BOUNDARIES (e.g., townhouses) 600 block W. 33 Ave. 600 block W. 33 Ave. • Consider more than ground-oriented housing, e.g, 4 • Consider more than ground-oriented housing, e.g, 4 storeys ADDED TO FOCUS AREAS 6 storeys Mt. Pleasant • Require commercial space on ground floor Park ADDED TO FOCUS AREAS 616th Ave. for potential ground-orientedMt. Pleasant • Require commercial space on ground floor Park C-1 Park for potential ground-oriented 16th Ave. C-2 C-1 housing (e.g., townhouses) Ash, McGuigan, Kersland Park Heather C-2 Park Grimmett • Consider more than ground-oriented housing, e.g., housing (e.g., townhouses) Ash, McGuigan, Kersland Park 4 storeys (4900–5200 blocks Ash St., 600 block Heather 7 3 000 block W. King Edward Ave. McGuigan Ave., 4900–5200 Kersland Dr.) Park Grimmett • Consider more than ground-oriented housing, e.g., Douglas • Adjacent to major project site and large park • Added to focus areas Park 4 storeysPark (4900–5200 blocks Ash St., 600 block 7 3 000 block W. King Edward Ave. • Located on arterial street McGuigan Ave., 4900–5200 Kersland Dr.) • Block configurations Douglas • Adjacent to major project site and large park • Explore feasibility of rental housing • Added to focus areas Park 2 1 St. Ontario W 23rd Ave. Oak St. 3 • Located on arterial street • Block configurationsW 24th Ave. 4 700 & 800 blocks W. 28 Ave. C-2 King • Explore feasibility of rental housing Edward Areas behind Cambie and 41st • Added to focus areas Ave. 2

1 St. Ontario W 23rd Ave. W 26th226 Ave. W 26th Ave. 3 • Consider more than ground-oriented housing, e.g., 4–6 Oak St. W 24th• ImmediateAve. adjacency to and impact from3 hospital Braemar 1 2 storeys (5500/5600 block Ash St., south side of 400 4 C-2 Park 700 & 800 blocks W. 28 Ave. King W 27th Ave. 8 block W 39 Ave., 400 block W. 40 Ave., 300/400 block Edward Areas behind CambieCambie St. and 41st W. 42 Ave. west of Alberta St., north side of 300/400 • Added to focus areas Ave. 5763 - 5775 Oak Street,9 Vancouver5500/5600 Alberta, Elizabeth, Columbia 4 block W. 43 Ave.) 3 • Immediate adjacency to and impact from hospital W 26th226 Ave. W 26th Ave. • Consider more than St. Ash ground-orientedYukon St. housing, e.g., 4–6 Braemar 1 • Added to focus areas (east side2 of 5500/5600 block storeys (5500/5600 block Ash St., south sideHillcrest of 400 • Adjacent to higher-density Phase 2 sites Park BC Children’s and Women’s Alberta St., 5500/5600W 27th Ave. block Elizabeth St., west side of 8 blockHospitals W 39 Ave., 400 block W. 40 Ave., 300/400Park block • Close proximity to Canada Line Station 5500 block Columbia St., and 5600 block Columbia St.) Key Highlights Cambie St. W. 42 Ave. west of Alberta St., north side of 300/400Nat • Location within Municipal Town Centre • Block configuration — avoid partial blocks Bailey 9 5500/5600 Alberta, Elizabeth, Columbia 4 block W. 43 Ave.) Stadium Riley • Explore feasibility of rental housing Ash St. Ash Yukon St.

W 32nd Ave. St. Heather Park • Added to focus areas (east side of 5500/5600• blockStrategic high-exposure redevelopment site improved with a Hillcrestcash- • Adjacent to higher-density Phase 2 sites BC Children’s and Women’s Queen Alberta St., 5500/5600 block Elizabeth St., west side of Hospitals Park 6 flowing two-storey commercial complex13 offeringW. 49 Ave.secure holding income 5 • Close proximity to Canada Line StationElizabeth 5500 block Columbia St., and 5600 block Columbia St.) Park 6409 Oak St. & 1005 W. 50 Ave. • Added to focus areas (700 and 800 block W. 49th Ave., • Location within Municipal Town Centre Nat • Consider more than ground-oriented housing • Block configuration — avoid partial blocks of ~$359,000 per annum and remainder of south side of 900 block W. 49th Ave.) VanDusen Bailey 7 Riley Gardens • Explore feasibility of rental housing • Adjacent to C-1 zoned site • Located on arterial street Stadium RCMP 11 W 32nd Ave. St. Heather Park Oak Site Meadow St. Willow • Explore feasibility of rental housing and commercial • Prominent Vancouver Westside location surrounded by some of the City’s Park 6 Queen 37th Ave. space at grade 13 W. 49 Ave. 5 top private and public schools, parks 15and other amenities Elizabeth 600 block W. 50Park Ave. 6409 Oak St. & 1005 W. 50 Ave. • Added to focus areas (700 and 800 block W. 49th Ave., • Added to focus areas • Consider more than ground-oriented housingW 39th Ave. and remainder of south side of 900 block W. 49th Ave.) VanDusen Oakridge 438 & 460 W. 48 Ave. • Option to develop under the existing C-1 Commercial• Close7 proximity zoning to Canada or Line apply station to Transit 8 9 Gardens • AdjacentCentre to C-1 zoned site 10 • Review relationship to Phase 2 to improve lane and • Located on arterial street Oak RCMP 11 Baillie St. Baillie St. Heather St. Manson St. Ash Alberta St. Elizabeth St. redevelop a purpose-built rental buildingSite with ground floor retail under the St. Columbia access conditions Meadow St. Willow • Explore feasibility of rental housing and commercial 12 Park 8 Rental 100 Program which supports higher density of up to 2.5 FSR 37th Ave. C-1 space at grade 41st Ave. 15 REMOVED FROM FOCUS AREAS Oakridge 600 block W. 50 Ave. Centre 522 W. 64 Ave., 529, 533 W. 65 Ave. Columbia • Added to focus areas • Capitalize on extreme demand for new rental housing in an established Montgomery Park • Review relationship to Phase 2 to improve lane and W 39th Ave. Park access conditions Oakridge 1 700 & 800 blocks W. 24 & W. 26 Ave. 438 & 460 W. 48 Ave. • Close proximity to Canada Line station neighbourhood only a stone’sTransit throw from 41st Avenue and Oak Street 17 8 9 Centre • Removed from focus areas 10 • Review relationship to Phase 2 to improve lane and Baillie St. Baillie St. Heather St. Manson St. Ash Alberta St. Elizabeth St. Columbia St. Columbia Oak St. Cambie St.

access conditions St. Ontario • Not adjacent to Phase 2 8100 block Lord St. • Tenant leases are month-to-month or on short term leases with demolition 12 St. Alberta 8 41st Ave. clauses in place C-1 Tisdall • Consider more than ground-oriented housing, e.g., 4-6 11 Park storeys Oakridge REMOVED FROM FOCUS AREAS 2 100 block W. 23 & W. 26 Ave. W 48th Ave. 18 Centre 522 W. 64 Ave., 529, 533 W. 65 Ave. • Adjacent to higher-density Phase 2 sites C-1 • Removed from focusColumbia areas W 49th Ave. • Property is not encumbered by existing financing presenting investors the 49th Ave. Montgomery Park • Review relationship to Phase 2 to12 improve lane and • Adjacent to park and school Park • Not adjacent to Phase 2 access13 conditions 1 opportunity to take advantage of record low mortgage interest rates 11 Langara • Explore feasibility of rental housing 700 & 800 blocks W. 24 & W. 26 Ave. 17 14 College • Removed from focus areas 15 5

Oak St. 1004 & 1010 W. 33 Ave. Cambie St.

• Stage 1 Environmental Report concluding no further investigation required St. Ontario • Not adjacent to Phase 2 8100 block Lord St. St. Ash • Removed from focusSt. Alberta areas 16 • Consider more than ground-oriented housing, e.g., 4-6 C-1 & C-2 ZONED AREAS • Block configuration — avoid partial blocks Ave. Tisdall 4th Cambie Cambie Corridor11 Plan — Phase Park3 storeys W 5 Langara Oak St. Park Golf Course 2 100 block W. 23 & W. 26 Ave. W 48th Ave. 18 C-1 • Adjacent to higher-densityLangara Phase 2 sites C-1 Zones C-1 Gardens • Removed from focus areas The subject property is located in the CambieW 49th Ave. Corridor Plan Phase 3 which is • Eligible for consideration under existing citywide 10 5643–5681 Ontario St. 49th Ave. • Adjacent to park and school 12 policy for rezoning to more height and density for • Not adjacent to Phase 2 currently under review (draft to the community in• the Removed Spring—City from focus areas anticipates 11 13 Langara • Explore feasibility of rental housing rental housing (generally consider four storeys). 14 • Block configuration — avoid partialCollege blocks Pearson Rental 100 — Secured Market Rental Housing Policy and the final draft plan to go to Council in late 2017/early 2018). The Plan will Dogwood 15 Rental Incentive Guidelines explore potential land use changes in key areas within walking distance to the 59th Ave. 5 1004 & 1010 W. 33 Ave. 14 6575 St. Ash Tisdall & 715, 727 W. 50 Ave. • Removed from focus areas Canada Line. Phase 3 is about providing more housing options for a diverse, Oak Winona C-2 C-2 Zones 16 • Removed from focus areas C-1Park & C-2 ZONED AREASPark growing population and guiding the integration of community amenities and • Eligible for consideration under existing citywide • Block configuration — avoid partial blocks Ave. 4th • Cambie Block configuration — avoid partial blocks W 5 Langara St. Ash policy for rezoning to more height and density

public spaces. The focus willOak St. be to: Park Golf Course MARPOLE for rental housing (generally consider six storeys). Ontario St. Ontario C-1 Cambie St. Rental 100 — Secured Market Rental Housing Policy and Langara C-1COMMUNITY Zones PLAN 16 Gardens6976 & 6998 Heather St. SW Marine Dr. Rental Incentive Guidelines • Explore more ground-oriented housing options (like townhomes and • EligibleAREA for consideration under existing citywide 10 5643–5681 Ontario St. 17 rowhomes) in the surrounding areas off major• Removed streets from focus areas policy for rezoning to more height and density for • Removed from focus areas • Block configuration — avoid partial blocks rental housing (generally18 consider four storeys). • Block configuration — avoid partial blocks Pearson Rental 100 — SecuredAsh Park Market Rental Housing Policy and • Provide appropriate transitions between Dogwoodapartment areas on major streets Rental Incentive Guidelines OTHER CONSIDERATIONS Legend 59th Ave. and surrounding single-family neighbourhoods JCC Adjacent Area 14 6575 Tisdall & 715, 727 W. 50 Ave. Cambie Corridor Phase 3 • Under further review — will consider coordination with Oak Winona C-2 C-2 Zones • Coordinate community amenities and the design of public spaces Source: City of Vancouver, Cambie Corridor Plan (Spring Expo) Jewish Community Centre redevelopment • Removed from focus areas Park study area Parkboundary Eburne Park• Eligible for consideration under existing citywide • Block configuration — avoid partial blocks Ebisu Ash St. Ash policy for rezoning to more height and density Marpole Community Plan boundary Park What do MARPOLE for rental housing (generally consider six storeys). Place of Worship

Ontario St. Ontario you think? Cambie St. COMMUNITY PLANCambie Plan Phase 2 and Rental 100 — Secured Market Rental Housing Policy and • Further consideration during Phase 3 for church-specific 16 6976 & 6998 Heather St. AREA Marpole Plan change areas SW Marine Dr. Rental Incentive Guidelines Passport #10 policy 17 • Removed from focus areas Question Parks • Block configuration — avoid partial blocks 18 Ash ParkExisting Canada Line Station OTHER CONSIDERATIONS Legend Potential Future Canada Line Station JCC Adjacent Area Cambie Corridor Phase 3 • Under further review — will consider coordination with study area boundary Jewish Community Centre redevelopment CAMBIE SPRING Eburne CORRIDOR EXPO Park Ebisu What do Phase 3 Marpole Community Plan boundary Park STEP 2: June 2016 2016 you think? Place of Worship Cambie Plan Phase 2 and • Further consideration during Phase 3 for church-specific Marpole Plan change areas Passport #10 policy Question Parks Existing Canada Line Station Potential Future Canada Line Station

CAMBIE SPRING CORRIDOR EXPO Phase 3 STEP 2: June 2016 2016 Upcoming Developments in the immediate area Source: City of Vancouver website

West 41st Avenue

Cambie Street

Oakridge Centre Oakridge Transit Lands Oakridge Lutheran Church NE Corner of Cambie & W. 41st Ave Future high density mixed-use community Future master planned community 6-storey mixed-use & church replacement Proposed future development Westbank Corp. & QuadReal Intergulf & Modern Green Development Catalyst Community Developments Coromandel Properties

305 W. 41st Ave 5470-5490 Oak St 4988 Cambie St 5189-5289 Cambie St 6 storeys (49 units) & church replacement 4 storeys (12 units) 7 storeys (44 units) Two 6-storey buildings (134 units) Townline & Oakridge United Church Listraor Pennyfarthing Homes Pure West Financial

5349 Cambie St 5812-5888 Cambie St 6137 Cambie St 950 W. 41st Ave 6 storeys (48 units) 10 & 8-storey mixed-use (125 units) 20 rental units & church replacement Proposed redevelopment Homei Properties VivaGrand Developments Chinese Presbyterian Church JCC & Louis Brier Home and Hospital

This communication is not intended to cause or induce breach of an existing listing agreement. The information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy, we do not guarantee it. It is your responsibility to independently confirm its accuracy and completeness. Renderings are an artist’s conception and are intended as a general reference only. E&OE.