17-year-old Marine Drive mansion could be turned into 28 rental homes (PHOTOS)

17-year-old Southwest Marine Drive mansion in Vancouver could be redeveloped into 28 rental homes (PHOTOS)

Existing home at 1890 Southwest Marine Drive in Vancouver (left) and an artistic rendering of the proposed market rental townhouse redevelopment (right). (Matt Gul/RentYVR/Stuart Howard Architects)

A mansion built 17 years ago on Southwest Marine Drive in Vancouver’s Southlands is being eyed for redevelopment.

While this area is known for being one of Vancouver’s ultra-luxury mansion clusters, the proposed plan for the site is not for an even bigger mansion but a multi-family complex of rental housing.

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Instead, the proponent for redeveloping 1890 Southwest Marine Drive is looking to redevelop the 2005-built mansion on a one-acre lot into four new three-storey townhouse buildings — configured around a courtyard — with a total of 28 secured market rental homes. This includes seven studio/one-bedroom units, five two-bedroom units, and 16 three- or four-bedroom units.

The proposed total floor area of the redevelopment is 31,600 sq ft, plus an underground level for 24 vehicle parking stalls and 68 secured bike parking spaces.

1890 Southwest Marine Drive Vancouver Rental Housing

Artistic rendering of the rental housing redevelopment of 1890 Southwest Marine Drive, Vancouver. (Stuart Howard Architects)

Site plan of the rental housing redevelopment of 1890 Southwest Marine Drive, Vancouver. (Stuart Howard Architects)

In contrast, the existing two-storey home on the property has a total floor area of 4,300 sq ft, with three bedrooms, five bathrooms, a large recreation room, and an artist workshop studio. Its outdoor amenities include an outdoor pool, a hot tub, and a tennis court.

The rancher villa-inspired architecture, surrounded by lush landscaping, was designed by Formwerks. A natural stream cuts through the property.

It is estimated the redevelopment could providing housing for up to 50 people, as opposed to the current configuration allowing for one family.

This property was previously sold for $6.54 million in 2015, and then for $10.8 million in 2017.

Last year, under realtor Matt Gul, the listing price was $15.5 million for the redevelopment potential into market rental townhomes. The annual property tax bill is currently $46,700.

1890 southwest marine drive vancouver mansion

Existing luxury home at 1890 Southwest Marine Drive, Vancouver. (Matt Gul/RentYVR)

The owner who bought the property in 2017 subsequently decided to move into a waterfront home in West Vancouver they bought through Gul. They also tasked him to put 1890 Marine Drive back into the market.

“At the time, I told them that it was not even possible to break even because they had just purchased the home. However, I did some research and came up with a plan — rezone the property under the affordable housing policy, and increase the property’s value,” stated Gul.

According to BC Assessment, the 2022 assessed value of the property is $9.634 million, with $7.24 million for the land and $2.39 million for the structure. This is down from the 2018 assessment of $10.336 million, but up from $8.77 million in 2021.

The rezoning application for the mansion’s redevelopment, designed by Stuart Howard Architects, falls under the City’s Affordable Housing Choices Interim Rezoning Policy.

This property is also immediately south of the historic Casa Mia mansion at 1920 Southwest Marine Drive, which is currently undergoing a renovation and expansion for its transformation into a senior’s home with 90 long-term care beds. The new Casa Mia operated by The Care Group is slated to reach completion in Spring 2023.

Casa Mia’s redevelopment was approved by Vancouver City Council in November 2017, just months after 1890 Southwest Marine Drive was acquired by the current owner.

Site of 1890 Southwest Marine Drive in Vancouver highlighted (red flag), with the construction site of the Casa Mia’s conversion into a seniors’ home also shown. (Google Maps)

Existing luxury home at 1890 Southwest Marine Drive, Vancouver. (Matt Gul/RentYVR)

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