The long-vacant, grassy property at the southeast corner of the intersection of East 12th Avenue and Clark Drive has been newly listed for sale.
Goodman Commercial is marketing the property at 1302-1318 East 12th Avenue, which entails three separate lots totalling 11,376 sq. ft. The listing price is $5.25 million, above the latest assessed value of $3.45 million.
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Based on the municipal government’s Grandview-Woodland Community Plan, the property can be developed into a four-storey, mixed-use building with commercial space on the ground level and residential uses in the upper levels. This allows for a floor space ratio (FSR) density of up to 1.7 times the size of the lot.
But the city’s response to a rezoning enquiry letter indicates there is potential for increased density of up to six storeys based on rental housing use, for a density lift to 3.0 FSR. The initial enquiry shows city staff support this form of increased height and density, especially with rental uses.
The site is across from two gas stations at the intersection’s northwest and northeast corners, and low-storey, mixed-use buildings at the southwest corner. SkyTrain’s Commercial-Broadway and VCC-Clark stations are about a 10-minute walk away.