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Ma
in Street
eaSt 2nd avenue
terMinal avenue
Main Street-Science WorldStation
StadiuM-chinatoWnStation
Olympic Village
Mount Pleasant Tech Hub
New St Paul’s Hospital
Subject Property
Partnership. Performance.
for SaleRare opportunity to acquire a transit-oriented, mixed-use development site in Vancouver’s False Creek Flats.
220 & 238 eaSt 1St aVenuevancouver, Bc
Michael Emmott, Senior [email protected]
Robert Levine, Principal 604.647.5066 [email protected]
Rob Greer*, Principal 604.647.5084 [email protected] * Robert Greer Personal Real Estate Corporation
Amanda Payne, Senior [email protected]
Michael C. Gill, Principal 604.647.5067 [email protected]
opportunityavison Young is pleased to present the opportunity to acquire this high-profile mixed-use development site, ideally located within the creative campus area of the city of vancouver’s False creek Flats. The site is designated as “Mixed-use with Residential” under the recently approved False creek Flats Draft area Plan (“FcF Plan”), which permits development up to an FSr of 6.5 times the site area. Situated on the south east corner of Main Street and east 1st avenue, this exceptional site benefits from a multitude of public transit options; located one city block away from the Main Street-Science World Skytrain station as well as the Pacific central train station and bus depot.
220& 238 eaSt 1St aVenuevancouver, Bc
FLATS PLAN STRUCTURE PLAN
The Draft Plan
22
#falsecreekflats
STRATHCONAPARK
TRILLIUMPARK
THORNTONPARK
CREEKSIDEPARK
CHINA CREEKNORTH PARK
GUELPH PARK
E 5TH AVE
E 6TH AVE
E 7TH AVE
E 1ST AVE
E 2ND AVE
E 1ST AVE
E 1ST AVE
E 3RD AVE
E 4TH AVE
NATIONAL AVE
AV
EH
EA
TL
EY
JA
CK
SO
N A
VE
HA
WK
S A
VE
MA
IN S
T
BE
GG
ST
TERMINAL AVE
ATLANTIC ST
INDUSTRIAL AVE
INDUSTRIAL AVE
TH
OR
NT
ON
ST
TH
OR
NT
ON
ST
ST
AT
ION
ST
ST
AT
ION
ST
CO
TT
RE
LL S
T
CENTRAL ST
CENTRAL ST
NORTHERN ST
NORTHERN ST
QU
EB
EC
ST
EVANS AVE
MALKIN AVEMALKIN AVE
NATIONAL AVENATIONAL AVE
PRIOR ST
VENABLES ST
UNION ST
GREAT NORTHERN WAY
KE
ITH
DR
IVE
GU
EL
PH
ST
RE
ET
EARL FINNING WAY
CA
RO
LIN
A S
T
ST
GE
OR
GE
ST
VE
RN
ON
DR
IVE
GL
EN
DR
IVE
RA
YM
UR
AV
E
CA
MP
BE
LL
AV
E
CL
AR
K D
RIV
E
F
OL
EY
ST
PR
INC
E E
DW
AD
ST
WE
ST
ER
N S
T
WE
ST
ER
N S
T
WILLIAM STWILLIAM ST
GO
RE
AV
E
PACIFIC BLVD
PACIFIC BLVD
INNOVATION HUB
EMILY CARRCAMPUS
HERITAGERAIL HUB
CULTURALPRECINCT
NEW ST. PAUL’SHEALTHCAMPUS
PACIFICCENTRALSTATION
INNOVATION HUB
PACIFICCENTRALSTATION
EMILY CARRCAMPUS
HERITAGERAIL HUB
CULTURALPRECINCT
NEW ST. PAUL’SHEALTHCAMPUS
New ar ter ia l options:pending seperate process
Ped / cycl ing br idges
Ped / cycl ing routes
Walk the Line
Residentia l
Employment Areas
Mixed use with residentia l
Street c losure across ra i l
Industr ia l , Commercia l , Creative Manufactur ing
Industr ia l , Production , Distr ibution , Service , Ar t
New street l inkages
East-West ar ter ia l overpassoption
Innovation , Technology, Creative , Research , Industr ia l
Amenity node
Institutional anchors
Transit station/skytra in l ine
Future transit station/skytra in l ine
Publ ic node
LEGEND
FALSE CREEK FLATSSTRUCTURE PLANSTRUCTURE
PLAN
FLATS PLAN STRUCTURE PLAN
The Draft Plan
22
#falsecreekflats
STRATHCONAPARK
TRILLIUMPARK
THORNTONPARK
CREEKSIDEPARK
CHINA CREEKNORTH PARK
GUELPH PARK
E 5TH AVE
E 6TH AVE
E 7TH AVE
E 1ST AVE
E 2ND AVE
E 1ST AVE
E 1ST AVE
E 3RD AVE
E 4TH AVE
NATIONAL AVE
AV
EH
EA
TL
EY
JA
CK
SO
N A
VE
HA
WK
S A
VE
MA
IN S
T
BE
GG
ST
TERMINAL AVE
ATLANTIC ST
INDUSTRIAL AVE
INDUSTRIAL AVE
TH
OR
NT
ON
ST
TH
OR
NT
ON
ST
ST
AT
ION
ST
ST
AT
ION
ST
CO
TT
RE
LL S
T
CENTRAL ST
CENTRAL ST
NORTHERN ST
NORTHERN ST
QU
EB
EC
ST
EVANS AVE
MALKIN AVEMALKIN AVE
NATIONAL AVENATIONAL AVE
PRIOR ST
VENABLES ST
UNION ST
GREAT NORTHERN WAY
KE
ITH
DR
IVE
GU
EL
PH
ST
RE
ET
EARL FINNING WAY
CA
RO
LIN
A S
T
ST
GE
OR
GE
ST
VE
RN
ON
DR
IVE
GL
EN
DR
IVE
RA
YM
UR
AV
E
CA
MP
BE
LL
AV
E
CL
AR
K D
RIV
E
F
OL
EY
ST
PR
INC
E E
DW
AD
ST
WE
ST
ER
N S
T
WE
ST
ER
N S
T
WILLIAM STWILLIAM ST
GO
RE
AV
E
PACIFIC BLVD
PACIFIC BLVD
INNOVATION HUB
EMILY CARRCAMPUS
HERITAGERAIL HUB
CULTURALPRECINCT
NEW ST. PAUL’SHEALTHCAMPUS
PACIFICCENTRALSTATION
INNOVATION HUB
PACIFICCENTRALSTATION
EMILY CARRCAMPUS
HERITAGERAIL HUB
CULTURALPRECINCT
NEW ST. PAUL’SHEALTHCAMPUS
New ar ter ia l options:pending seperate process
Ped / cycl ing br idges
Ped / cycl ing routes
Walk the Line
Residentia l
Employment Areas
Mixed use with residentia l
Street c losure across ra i l
Industr ia l , Commercia l , Creative Manufactur ing
Industr ia l , Production , Distr ibution , Service , Ar t
New street l inkages
East-West ar ter ia l overpassoption
Innovation , Technology, Creative , Research , Industr ia l
Amenity node
Institutional anchors
Transit station/skytra in l ine
Future transit station/skytra in l ine
Publ ic node
LEGEND
FALSE CREEK FLATSSTRUCTURE PLANSTRUCTURE
PLAN
FLATS PLAN STRUCTURE PLAN
The Draft Plan
22
#falsecreekflats
STRATHCONAPARK
TRILLIUMPARK
THORNTONPARK
CREEKSIDEPARK
CHINA CREEKNORTH PARK
GUELPH PARK
E 5TH AVE
E 6TH AVE
E 7TH AVE
E 1ST AVE
E 2ND AVE
E 1ST AVE
E 1ST AVE
E 3RD AVE
E 4TH AVE
NATIONAL AVE
AV
EH
EA
TL
EY
JA
CK
SO
N A
VE
HA
WK
S A
VE
MA
IN S
T
BE
GG
ST
TERMINAL AVE
ATLANTIC ST
INDUSTRIAL AVE
INDUSTRIAL AVE
TH
OR
NT
ON
ST
TH
OR
NT
ON
ST
ST
AT
ION
ST
ST
AT
ION
ST
CO
TT
RE
LL S
T
CENTRAL ST
CENTRAL ST
NORTHERN ST
NORTHERN ST
QU
EB
EC
ST
EVANS AVE
MALKIN AVEMALKIN AVE
NATIONAL AVENATIONAL AVE
PRIOR ST
VENABLES ST
UNION ST
GREAT NORTHERN WAY
KE
ITH
DR
IVE
GU
EL
PH
ST
RE
ET
EARL FINNING WAY
CA
RO
LIN
A S
T
ST
GE
OR
GE
ST
VE
RN
ON
DR
IVE
GL
EN
DR
IVE
RA
YM
UR
AV
E
CA
MP
BE
LL
AV
E
CL
AR
K D
RIV
E
F
OL
EY
ST
PR
INC
E E
DW
AD
ST
WE
ST
ER
N S
T
WE
ST
ER
N S
T
WILLIAM STWILLIAM ST
GO
RE
AV
E
PACIFIC BLVD
PACIFIC BLVD
INNOVATION HUB
EMILY CARRCAMPUS
HERITAGERAIL HUB
CULTURALPRECINCT
NEW ST. PAUL’SHEALTHCAMPUS
PACIFICCENTRALSTATION
INNOVATION HUB
PACIFICCENTRALSTATION
EMILY CARRCAMPUS
HERITAGERAIL HUB
CULTURALPRECINCT
NEW ST. PAUL’SHEALTHCAMPUS
New ar ter ia l options:pending seperate process
Ped / cycl ing br idges
Ped / cycl ing routes
Walk the Line
Residentia l
Employment Areas
Mixed use with residentia l
Street c losure across ra i l
Industr ia l , Commercia l , Creative Manufactur ing
Industr ia l , Production , Distr ibution , Service , Ar t
New street l inkages
East-West ar ter ia l overpassoption
Innovation , Technology, Creative , Research , Industr ia l
Amenity node
Institutional anchors
Transit station/skytra in l ine
Future transit station/skytra in l ine
Publ ic node
LEGEND
FALSE CREEK FLATSSTRUCTURE PLANSTRUCTURE
PLAN
FLATS PLAN STRUCTURE PLAN
The Draft Plan
22
#falsecreekflats
STRATHCONAPARK
TRILLIUMPARK
THORNTONPARK
CREEKSIDEPARK
CHINA CREEKNORTH PARK
GUELPH PARK
E 5TH AVE
E 6TH AVE
E 7TH AVE
E 1ST AVE
E 2ND AVE
E 1ST AVE
E 1ST AVE
E 3RD AVE
E 4TH AVE
NATIONAL AVE
AV
EH
EA
TL
EY
JA
CK
SO
N A
VE
HA
WK
S A
VE
MA
IN S
T
BE
GG
ST
TERMINAL AVE
ATLANTIC ST
INDUSTRIAL AVE
INDUSTRIAL AVE
TH
OR
NT
ON
ST
TH
OR
NT
ON
ST
ST
AT
ION
ST
ST
AT
ION
ST
CO
TT
RE
LL S
T
CENTRAL ST
CENTRAL ST
NORTHERN ST
NORTHERN ST
QU
EB
EC
ST
EVANS AVE
MALKIN AVEMALKIN AVE
NATIONAL AVENATIONAL AVE
PRIOR ST
VENABLES ST
UNION ST
GREAT NORTHERN WAY
KE
ITH
DR
IVE
GU
EL
PH
ST
RE
ET
EARL FINNING WAY
CA
RO
LIN
A S
T
ST
GE
OR
GE
ST
VE
RN
ON
DR
IVE
GL
EN
DR
IVE
RA
YM
UR
AV
E
CA
MP
BE
LL
AV
E
CL
AR
K D
RIV
E
F
OL
EY
ST
PR
INC
E E
DW
AD
ST
WE
ST
ER
N S
T
WE
ST
ER
N S
T
WILLIAM STWILLIAM ST
GO
RE
AV
E
PACIFIC BLVD
PACIFIC BLVD
INNOVATION HUB
EMILY CARRCAMPUS
HERITAGERAIL HUB
CULTURALPRECINCT
NEW ST. PAUL’SHEALTHCAMPUS
PACIFICCENTRALSTATION
INNOVATION HUB
PACIFICCENTRALSTATION
EMILY CARRCAMPUS
HERITAGERAIL HUB
CULTURALPRECINCT
NEW ST. PAUL’SHEALTHCAMPUS
New ar ter ia l options:pending seperate process
Ped / cycl ing br idges
Ped / cycl ing routes
Walk the Line
Residentia l
Employment Areas
Mixed use with residentia l
Street c losure across ra i l
Industr ia l , Commercia l , Creative Manufactur ing
Industr ia l , Production , Distr ibution , Service , Ar t
New street l inkages
East-West ar ter ia l overpassoption
Innovation , Technology, Creative , Research , Industr ia l
Amenity node
Institutional anchors
Transit station/skytra in l ine
Future transit station/skytra in l ine
Publ ic node
LEGEND
FALSE CREEK FLATSSTRUCTURE PLANSTRUCTURE
PLAN
Source: False Creek Flats Draft Area Plan, City of Vancouver
False Creek Flats Structure Plan
Investment Highlights ✓ Highly coveted False creek Flats location,
a hub for tech commercial uses and highly desirable area to live and work
✓ unparalleled local amenities – numerous shops, restaurants, breweries and public spaces
✓ adjacent to the Mount Pleasant Tech Hub, where Westbank and founder of Hootsuite, ryan Holmes, have partnered to develop a digital media and high-tech campus
✓ exceptional access to public transport with SkyTrain one block away and a bus stop steps away on Main Street
✓ very high demand for rental accommodation in vancouver, with a vacancy rate of 0.8% (per cMHc) and exponentially increasing rental rates
18
STRUCTURE PLAN 5.4
The structure plan provides the overall physical framework for the local area plan and the policy directions outlined in the following chapters:
Figure 6: False Creek Flats Structure Plan
Subject Property
Development Potential This site is uniquely designated as an “Innovation District Mixed-use Prototype” under the False creek Flats Draft area Plan which was recently approved by council on May 17, 2017. under this designation, “zoned job space will be achieved, with opportunity for additional density for secured rental housing or a mix of social and market condo above. Industrial and retail spaces will activate the ground floor and contribute to the life on the street in this district.”
additional uses: creative Products Manufacturing (cPM); Digital entertainment, Information and communication Technology (DeIcT); and rental residential.
Density: conditional up to 6.5 FSr
Height: conditional up to ~ 140 ft (subject to view cone 22)
Conditional Requirement: Maximum height and density can be achieved by providing at least 3.0 FSr of job space, including a minimum of 1.0 FSr of light industrial or artist Studio B, providing an amenity share contribution for a bonus of additional density and incorporation of design considerations as outlined in the Guidelines for the False creek Flats. (Source: False Creek Flats Draft Area Plan, City of Vancouver)
False creek Flats - A dynamic and rapidly growing neighbourhood with incredible potentialThe False creek Flats area consists of approximately 450 acres of primarily industrial and employment lands located adjacent to high density residential neighbourhoods, situated less than a kilometre from both Downtown vancouver and the Port. The area currently generates 8,000 jobs, with 600 diverse businesses including 30+ technology & research and development businesses (Source: “The Flats Area Profile”, City of Vancouver).
upcoming Improvements in the False Creek Flats
– The area is set to benefit from the relocation of St Paul’s Hospital into a state-of-the-art new facility in the False creek Flats.
– $200-million plan to remove the Georgia and Dunsmuir viaducts, thereby maximizing the future potential of a largely undeveloped 50-hectare section of the northeast False creek neighbourhood.
– The extension of the Millennium Line from VCC Clark will further enhance the accessibility of the area and provide another SkyTrain stop in the Flats at the emily carr campus. construction of the Millennium Line extension could begin by 2019.
Property DetailsLegal Description Lots 1&2, Block 6, District Lot 200a, Plan 197, Township 36, except Plan 7215Lots 3-5, Block 6, District Lot 200a, Township 36, Plan 197Lot 6, Block 6, District Lot 200a, Plan 197
PID(S)015-532-038, 015-532-054, 015-532-119, 015-532-101, 015-532-089, 005-209-200
Site Size 30,702 SF
net Operating Income (2017)$167,000
Zoning Ic-2
False Creek Flats OCP DesignationMixed-use with residential. conditional density up to 6.5 FSr
environmentalPhase 1 and Phase 2 available
Financing clear Title
Bare trustee Title to the property is held by a nominee company, the shares of which can be purchased
Pricecontact listing agents
rendering of Potential Development
Avison Young #2900-1055 W. Georgia Street Box 11109 Royal Centre Vancouver, BC V6E 3P3, Canada
Partnership. Performance.
avisonyoung.com
© 2017 avison Young. all rights reserved.
e. & o.e.: The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by avison Young commercial real estate (B.c.) Inc.; DBa, avison Young.
Michael Emmott, Senior [email protected]
Robert Levine, Principal 604.647.5066 [email protected]
Rob Greer*, Principal 604.647.5084 [email protected] * Robert Greer Personal Real Estate Corporation
Amanda Payne, Senior [email protected]
Michael C. Gill, Principal 604.647.5067 [email protected]
Planned Removal of Georgia & Dunsmuir Viaducts
Main Street Brewing Co.
Mount Pleasant Community CentreMount Pleasant Library
Mount Pleasant Elementary
Science World
BC Place Rogers Arena
Seawall
Columbia College
Mercedes-Benz
Porsche
Burrard Acura
Rocky Mountaineer
Pacific Central Station
Chinatown
Downtown
Mount Pleasant Tech Hub
Gastown
False Creek
Beta5 Chocolates
Cliffhanger Climbing Gyms
The Hive Bouldering Gym
Red Truck Beer Company
Nuba Café
Hootsuite
Cartems Donuterie
Peaceful Restaurant New St Paul’s Hospital Site
Main Street- Science World Station
Proposed New Skytrain Station
Trillium Park
Subject Property
Source: Google
Location accessibility 98
Walk Score92
Transit Score92
Bike Score
caMbie Street bridge
Main StreetPrior Street
terMinal avenue
great northern Way
e 2nd avenueArgo Cafe
Earnest Ice Cream
Emily Carr Campus
Olympic Village
Brassneck Brewery
St. Francis Xavier School