The northwest corner of the intersection of Oak Street and West 67th Avenue in Vancouver’s Marpole neighbourhood could be getting a new vertical look.
A rezoning application has been submitted to redevelop the 18,200-sq-ft lot at 8257 Oak Street, which is currently occupied by a single-storey commercial building with a number of businesses, including a Starbucks that recently closed.
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GBL Architects’ application outlines a proposal for a new 104-ft-tall, eight-storey building with 5,988 sq. ft. of retail and restaurant space on the ground level, 8,713 sq. ft. of office space on the second level, and 62 homes in the upper levels.
The residential unit mix is four studio units, 36 one-bedroom units, 16 two-bedroom units, and three six-bedroom units. Two of these homes will be townhouses with laneway frontage.
Altogether, the building will have a total floor area of 63,700 sq. ft., creating a floor space ratio of 3.5 times the size of the lot.
Two underground levels will accommodate 69 vehicle parking stalls and 124 bike parking spaces.
The redevelopment fits within the framework of the city’s Marpole Community Plan.
This property was acquired for redevelopment in May 2018 for $20 million, which roughly matches its July 2018 assessed value of $20.1 million.
Directly across the street at the intersection’s northeast corner, Coromandel Properties is redeveloping 989 West 67th Avenue into an eight-storey building with retail and restaurant space on the ground level, office space on the second level, and 43 homes within the upper levels.
Construction is expected to reach completion in 2021.