- What A vacant plot of land is for sale in one of the city’s most active neighbourhoods
- Why The property is for sale after fires resulted in its previous structure being demolished
- What next It can be redeveloped into a building up to 20 storeys
A rare vacant-land parcel within Vancouver’s Broadway Plan area has hit the market looking to grab $20m.
The 18,000 sq ft lot, at 414 East 10th Avenue in Mount Pleasant, can host a development up to 20 storeys under rezoning the property is slated to fall under.
Goodman Commercial has the marketing assignment for the site, with 150 ft of frontage. The property is being sold by a private owner.
Zoning calls for 20% of the units in a new building to have below-market rents. According to marketing materials, the maximum height and density could be increased if ground-level retail or service units are added.
The property is just several blocks away from what will be the Broadway subway station at Main Street and East Broadway. Just southeast of downtown, the Mount Pleasant neighbourhood is one of Vancouver’s liveliest areas with bars, restaurants and abundant independent stores.
Until recently, the parcel housed a vacant low-rise multifamily property that had suffered several fires. The building was ordered demolished by the fire department over the summer, according to Daily Hive.
