{"id":184490,"date":"2018-08-30T12:45:02","date_gmt":"2018-08-30T16:45:02","guid":{"rendered":"https:\/\/www.livabl.com\/articles\/?p=184490"},"modified":"2018-08-30T12:45:02","modified_gmt":"2018-08-30T16:45:02","slug":"5-biggest-vancouver-residential-land-deals-q2-2018","status":"publish","type":"post","link":"https:\/\/www.livabl.com\/articles\/news\/5-biggest-vancouver-residential-land-deals-q2-2018","title":{"rendered":"The 5 biggest Vancouver residential land deals of Q2 2018"},"content":{"rendered":"<h4 id='pressboard-ad-sponsorship-tag' style='margin-bottom: 35px;'><\/h4><p><em><a href=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2018\/08\/minoru-boulevard.png\" rel=\"lightbox[184490]\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-184493\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2018\/08\/minoru-boulevard.png\" alt=\"\" width=\"862\" height=\"578\" \/><\/a><\/em><em><br \/>\nImage: <a href=\"https:\/\/www.google.com\/maps\/@49.172891,-123.1408187,287m\/data=!3m1!1e3\" class=\"external\" target=\"_blank\">Google Maps<\/a><\/em><\/p>\n<p>Metro Vancouver\u2019s deflated housing market hasn\u2019t put an end to blockbuster land deals.<\/p>\n<p>\u201cWe\u2019re seeing some exceptionally large transactions closing,\u201d Paul Richter, director of commercial research for real estate consultancy Altus Group, tells Livabl.<\/p>\n<p>In the first quarter of 2018 alone, residential land deals totalled $1.1 billion, largely a result of redevelopment intentions, according to <a href=\"https:\/\/datasolutions.altusgroup.com\/calgary-edmonton-vancouver-investment\/\" class=\"external\" target=\"_blank\">Altus Group\u2019s Western Canada market update<\/a>, published this month.<\/p>\n\n<p>For many in Vancouver, condos are the last affordable type of housing and so developers are shelling out big money on sites that can support more density \u2014 even as <a href=\"https:\/\/www.livabl.com\/articles\/2018\/08\/vancouvers-condo-market-buyers-territory-2018.html\">condo sales currently plummet<\/a>.<\/p>\n<p>\u201cI don\u2019t anticipate the condo market to continue any downward trajectory or to continue slowing down,\u201d says Richter.<\/p>\n<p>Based on Altus Group\u2019s list of the five biggest residential land transactions from the second quarter, some developers may be banking on that.<\/p>\n<h2>8831\u20138671 Cambie Road\/3540\u20133480 Sexsmith Road<br \/>\nPrice: $147,285,000<\/h2>\n<p>RCG Group sold the 12.3-acre Richmond site, which is made up of several smaller parcels of land, to Polygon Group in May. Altus Group expects the site will be redeveloped, but no application has been submitted as of yet.<\/p>\n<h2>1640\u20131650 Alberni Street<br \/>\nPrice: $130,000,000<\/h2>\n<p>When seller Hollyburn Properties Limited parted with this land in April, it was already home to the 14-storey, 66-unit Brockton House apartments, which date back to 1969. But the property is designated for development up to a height of 385 feet. That likely explains developer Landa Global Properties Ltd.\u2019s interest.<\/p>\n<div class=\"see-more-link\"><img decoding=\"async\" alt=\"See Also\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/themes\/livabl\/images\/see-also-cta-icon.svg\"\/>\r\n          <strong><span>SEE ALSO:<\/span><a href=\"https:\/\/www.livabl.com\/articles\/2018\/07\/3-groups-condo-prices-soar-greater-vancouver.html?utm_source=internal&amp;utm_medium=see%20also&amp;utm_campaign=3%20Groups%20Condo%20Prices\"  area-label=\"These 3 groups of homebuyers are causing condo prices to soar in Greater Vancouver\">These 3 groups of homebuyers are causing condo prices to soar in Greater Vancouver<\/a><\/strong>\r\n        <\/div>\n<h2>1063\u20131075 Barclay Street<br \/>\nPrice: $113,206,508<\/h2>\n<p>Westbank and Bosa Properties tried scooping up the 36 condos and four townhouses on the site. Any redevelopment plans between the two <a href=\"https:\/\/www.theglobeandmail.com\/canada\/british-columbia\/article-105-million-real-estate-deal-reveals-hot-vancouver-markets-inner\/\" class=\"external\" target=\"_blank\">fell by the wayside<\/a>, though, so they decided to sell everything together. The sale to Grand World Holding Ltd. was completed after the holdout owners of two condo units settled out of court.<\/p>\n<h2>1633 Capilano Road\/2010 Marine Drive<br \/>\nPrice: $97,500,000<\/h2>\n<p><em><a href=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2018\/08\/2010-marine-drive.jpg\" rel=\"lightbox[184490]\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-184492\" src=\"https:\/\/www.livabl.com\/articles\/wp-content\/uploads\/2018\/08\/2010-marine-drive.jpg\" alt=\"\" width=\"1300\" height=\"656\" \/><\/a><br \/>\nRendering: District of North Vancouver<\/em><\/p>\n<p>The Grouse Inn motel looks set for condos. Just months before Pacific Gate Investments Ltd. dealt this property to a numbered BC corporation, the District of North Vancouver approved its proposal for a mixed-use development, including 258 residential units across two towers reaching heights of 19 and 23 storeys, respectively.<\/p>\n<h2>5720\u20135800 Minoru Boulevard<br \/>\nPrice: $59,800,000<\/h2>\n<p>Vancouver Soho Holding Ltd. purchased the land fronting Minoru Boulevard in July 2013 for a total of $36 million. 5720\u20135800 encompasses several low-rise buildings. The buyer is Thind Properties Ltd., a Burnaby-based builder.<\/p>\n<div id='pressboard-ad-sponsorship-msg'><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Metro Vancouver\u2019s deflated housing market hasn\u2019t put an end to blockbuster land deals.<\/p>\n","protected":false},"author":23,"featured_media":184493,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","apple_news_api_created_at":"","apple_news_api_id":"","apple_news_api_modified_at":"","apple_news_api_revision":"","apple_news_api_share_url":"","apple_news_coverimage":0,"apple_news_coverimage_caption":"","apple_news_is_hidden":false,"apple_news_is_paid":false,"apple_news_is_preview":false,"apple_news_is_sponsored":false,"apple_news_maturity_rating":"","apple_news_metadata":"\"\"","apple_news_pullquote":"","apple_news_pullquote_position":"middle","apple_news_slug":"","apple_news_sections":["https:\/\/u48r14.digitalhub.com\/sections\/09b86915-7d2b-3acd-915b-b215002d01b7"],"apple_news_suppress_video_url":false,"apple_news_use_image_component":false,"footnotes":""},"categories":[11108],"tags":[11215,11199,3422],"coauthors":[8692],"apple_news_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - 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