Quote:
Originally Posted by Changing City
It's been for sale since the beginning of the year. It's $23.88m. The building has to provide 19 social housing rental units, as well as then being able to build the 75 condos in the approved design.
As Sparrow, with 25 condos slowly completing a block away on Keefer still has 10 unsold after 5 years of sales, it's not a particularly attractive development prospect at that price. If it was less expensive, the Main Street site might make sense as a 100% rental project.
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Corrected typo, thanks!
https://www.bcassessment.ca/Property...AwMDAwMVdCNg==
BC Assessment shows 796 Main St "Total value $10,990,500 2023 assessment as of July 1, 2022" so quite a difference (unless I'm missing something), though I'm not up on how closely Vancouver business property assessments are tracking to sale prices lately.
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