- What A vacant piece of land in North Vancouver has hit the market for $13.5m
- Why The property is in an area with demand for multifamily
- What next A residential development is already approved for the property
A vacant land parcel in North Vancouver has hit the market asking $13.5m.
The half-acre parcel, at 1565 Rupert Street, is approved for a 95-unit, six-storey purpose-built rental building. 1NE Collective Realty has the marketing assignment on behalf of an unknown vendor.
The project, initially slated to be built by Baron Projects, would span 70,000 sq ft at a 2.88 floor area ratio.
The campaign notes the property offers a “premier” development opportunity due to its location in North Vancouver’s Lynnmour neighbourhood. It is near the Phibbs transit exchange and there is growing demand for multifamily housing in the area.
The land is less than 200 m from Highway 1, at the entrance to the Ironworkers Memorial Bridge. It is just over 1 km to Capilano University and 4 km to Lonsdale Quay.
