Andrew Petrozzi’s Post

When Burnaby City Council first approved the master plan for the redevelopment of the old Brentwood Town Centre in 2013, it triggered one of the first major transit-oriented developments of Metro Vancouver’s traditional suburban malls, reported Daily Hive. "The 2013 master plan approval granted SHAPE Properties the ability to pursue up to 7.96 million sq ft of total building area in their redevelopment, now known as The Amazing Brentwood. This included 3.87 million sq ft of commercial uses — retail, restaurants, and offices — and 4.09 million sq ft of residential uses, with the developer primarily planning to build condominiums." "But now, a decade later, the developer is looking to more than double the amount of strict residential uses found on the 28-acre development site next to SkyTrain Brentwood Town Centre Station and the core of the city’s Brentwood district." "The municipal government is currently in the process of seeking Shape Properties’ revised master plan to add 4.67 million sq ft of strict residential uses, with at least 50% — or 2.36 million sq ft — required to be secured purpose-built rental housing." "No changes or additions are proposed for commercial uses, although City policies enable 49% of the commercial density to be used for secured purpose-built market rental housing (“commercial residential rental”) if the remaining 51% of the commercial density is used for traditional commercial uses such as retail, restaurants, offices, and hotels. This potential means the additional overall residential uses could exceed 4.67 million sq ft." https://lnkd.in/gPm8aAxS #burnaby #mixeduse #development

New developments are coming to Sunnyvale, but are they going to cost how we live and are they balanced? #siliconvalley #housing #homeowners #homeownership #realestate #retail #development

The Next Big Thing? These two areas in Charlotte, NC are changing in a big way and you’ll want to know about them! Both of these areas are in the 28208 zip code and the avg sales price has increased 21% in the past 3 years. That’s saying a lot since much of what you’ll see today has been developed more recently. Clanton Park/Roseland: Located less than 4 miles Southwest of uptown Charlotte between Clanton Rd and Billy Graham Pkwy, and is also very close to Interstate 77. This neighborhood benefits from the proximity to major employers, all of the shopping, dining, entertainment, and nightlife amenities of the LoSo, SouthEnd areas, and immediate access to the light rail. All you have to do is walk or drive a couple hundred feet in any direction down Clanton Rd or S. Tryon and you will see massive development. There has already been a lot of mix used residential, multifamily retail, office, and restaurant space developed in the past 2-3 years with so much more underway or scheduled.    Here’s a little nugget of info…just over a year ago (Nov 2022) a large developer out of FL purchased the 36 acre parcel on the corner of Clanton Rd and S. Tryon. They are currently developing a master plan with plans “it will be a true mixed-use (project), with office, hotel, residential, retail and green space.” Freemore: This area is named after the intersection of 2 main thoroughfares Morehead St and Freedom Dr) and encompasses 3 smaller neighborhoods Wesley Heights, Seversville, Ashley Park. It’s known for its historic character and in recent years has undergone significant revitalization efforts with more development in the pipeline. Along with the location and amenities there’s been significant real estate development with single family rehabs and new construction, multifamily residences, and luxury apartment options. Check out the Bryant Park subdivision full of single family homes and townhomes built less than 10 years ago, or head down Grandin Rd and feel the historic charm of Wesley Heights, and then take in the modern development of the duets, townhomes, and revitalized ranch and bungalow style homes in Seversville. Cat's out of the bag! Whether it’s that first home, next home, or an investment property with upside…these areas have you covered. If you’d like more information on these or any other neighborhoods in the Greater Charlotte Area don’t hesitate to reach out. #charlottenc #realestate #relocation #relocationspecialist #realestateadvisor #realtor

The aging buildings of Robson Street in Vancouver’s West End have a long history of serving as storefronts for an array of fashion retailers, from boutique luxury shops to renowned global brands. But like many popular shopping destinations, the once-thriving corridor has faced its share of challenges since the heydays of the 80s and 90s, including changing consumer preferences, exorbitant lease rates, and buildings that have noticeably weathered over time, reported Canadian Apartment Magazine. "In 2014, the City of Vancouver launched a formal plan to revitalize the area in an attempt draw back businesses, improve livability, and create new housing for residents of all income groups. With these ongoing efforts, the West End will continue to blossom into a diverse, walkable neighbourhood, offering world-class parks and beaches, a vibrant social scene, and a wide range of restaurants and commercial services." "No stranger to the Robson Street corridor, GWL Realty Advisors (GWLRA) acquired a development site for a boutique-style building known as “Chronicle” in 2016. The 21-storey market rental tower at 825 Nicola Street officially opened in 2021, adding significant new rental stock to the Lower Robson neighbourhood." "As the first Robson Street rental project approved under the City’s West End Community Plan, Chronicle captured a lot of attention and its units leased-up with ease. Since then, GWLRA has purchased two new adjacent sites at 1555 and 1525 Robson Street that are collectively zoned to accommodate 400 purpose-built rental units and 40,000 square feet of retail density." https://lnkd.in/g_i8WCWb #vancouver #retail #apartment #development

List Price - $3,450,000 Cap Rate - 5.14% Price Per Unit - $431,250 Price Per Square Foot - $514.77 Marcus & Millichap is pleased to present an eight unit multifamily asset located at 2930 E 5th Street in Long Beach, California. Built in 1963, the subject property consists of 6,702 rentable square feet spread throughout a 0.15 acre lot. The building consists of seven 2-Bedroom / 1- Bathroom units and one 3- Bedroom/ 2-Bathroom unit. Owners enjoy the high demand for rentals in a coastal city of Southern California. Located just off the retro row corridor of 4th street, 2930 E 5th is considered a “walker’s paradise” with a “walk score” of 91, ideal for tenants who can easily get to restaurants, shopping, entertainment, and schools by foot. Tenants are also easily able to commute to large employment centers like Downtown Long Beach and CSULB, both just a few miles away. In addition, all of the eight units have been extensively renovated, including, but not limited to, new flooring, new cabinets, new fixtures, new electrical subpanels, and new paint. Those units are achieving top of market rents, demonstrating the viability of this asset in a prime Belmont Heights location. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a great location with strong current income that will provide a stable return. For more information on this listing, please contact Ryan Gonzalez at (562) 257-1304 or Kevin King at (562) 972-1050. For more information on the property: https://buff.ly/433VFRH. #thekinggroup #marcusmillichap #longbeach #downtownlongbeach #CSULB #BelmontHeights #SouthernCalifornia #SoCal #LongBeachCivicCenter #PortofLongBeach #QueenMary #multifamily #apartments #rentals #renovated #walkersparadise #retrorow

List Price - $3,450,000 Cap Rate - 5.14% Price Per Unit - $431,250 Price Per Square Foot - $514.77 Marcus & Millichap is pleased to present an eight unit multifamily asset located at 2930 E 5th Street in Long Beach, California. Built in 1963, the subject property consists of 6,702 rentable square feet spread throughout a 0.15 acre lot. The building consists of seven 2-Bedroom / 1- Bathroom units and one 3- Bedroom/ 2-Bathroom unit. Owners enjoy the high demand for rentals in a coastal city of Southern California. Located just off the retro row corridor of 4th street, 2930 E 5th is considered a “walker’s paradise” with a “walk score” of 91, ideal for tenants who can easily get to restaurants, shopping, entertainment, and schools by foot. Tenants are also easily able to commute to large employment centers like Downtown Long Beach and CSULB, both just a few miles away. In addition, all of the eight units have been extensively renovated, including, but not limited to, new flooring, new cabinets, new fixtures, new electrical subpanels, and new paint. Those units are achieving top of market rents, demonstrating the viability of this asset in a prime Belmont Heights location. The city of Long Beach continues to progress forward and is currently experiencing major redevelopment. The Long Beach port is undergoing $4.4 billion in future redevelopment that will create 14,000 new and permanent jobs in Southern California. The city is undergoing a building boom with more than $5 billion in private and public investments in various stages of development. The new $520 million Long Beach Civic Center development will house a new City Hall, Port of Long Beach headquarters and the Main Library. Long Beach sustains its ability to attract renters due to its strong economy and quality of life. This is an excellent opportunity to acquire a quality asset in a great location with strong current income that will provide a stable return. For more information on this listing, please contact Ryan Gonzalez at (562) 257-1304 or Kevin King at (562) 972-1050. For more information on the property: https://buff.ly/433VFRH. #thekinggroup #marcusmillichap #longbeach #downtownlongbeach #CSULB #BelmontHeights #SouthernCalifornia #SoCal #LongBeachCivicCenter #PortofLongBeach #QueenMary #multifamily #apartments #rentals #renovated #walkersparadise #retrorow #newlisting #featuredlisting

Co-op/Condo vs. Townhouse When it comes to purchasing a home in the city, luxury buyers often find themselves debating between a co-op/condo and a townhouse. Each option has its own unique characteristics, advantages, and considerations that can significantly impact the home buying decision. NYC is compromised of 98% coop/condo and only 2% townhouses, which can impact you decision making. In this blog post, I'll explore the key differences between co-op/condo living and townhouse living to help you make an informed choice. Co-op/Condo Living: Cooperative apartments (co-ops) and condominiums (condos) are popular housing options, offering a range of amenities and a sense of community. In a co-op, buyers purchase shares in a corporation that owns the building, entitling them to a proprietary lease for their individual unit. Condo owners, on the other hand, own their individual units and share ownership of common areas with other unit owners. Read the full blog by clicking the link below! By. Danielle Sevier #SevierInTheCity #thesevierteam #compass https://lnkd.in/gPCr8RTG

🌟 Exciting News Alert! The Newstead Collective, one of Newstead's largest development projects, is now on the market, poised to redefine inner-city living in Brisbane. With plans for a three-tower development boasting over 1,000 apartments and a vibrant mix of retail outlets, this site presents an unparalleled opportunity for developers and investors alike. Colliers Queensland agents Troy Linnane, James Matley, and Robert Papaleo have been appointed to spearhead the international expression of interest campaign for this prime residential development. Positioned in the heart of Newstead, adjacent to iconic destinations like James Street and Howard Smith Wharves, 'The Newstead Collective' promises a lifestyle experience like no other, with a variety of entertainment and dining options at residents' fingertips. Moreover, with similar scale inner-city development sites fetching over $100 million, and Brisbane experiencing a chronic housing shortage, this project is poised to address the pressing demand for quality housing in the city. Don't miss out on being part of this transformative endeavor reshaping Brisbane's skyline! #NewsteadCollective #BrisbaneDevelopment #RealEstateOpportunity Author: Joel Robinson ------------ 📣 Was this update of interest to you?🔥 Join 15,000+ of your residential property development colleagues who follow Urban on LinkedIn. We regularly post free insights about: 💡   New project launches and updates 💡   What buyers are searching for on AU’s largest off the plan buyer platform 💡   Weekly interviews with industry leaders Follow Urban.com.au or connect with our CEO Mike Bird to keep your finger on the pulse of the apartment and townhouse market.

Less than two years after submitting a rezoning application for the project, Wall Financial Corporation is backing out of its planned high-rise rental project at 1065 Pacific Street in the West End of Vancouver, reported Storeys. "As previously outlined by STOREYS, the project is a 32-storey rental tower with 144 market rental units and 36 below-market rental units near the intersection with Thurlow Street, just two blocks away from Sunset Beach." "The site is currently occupied by a three-storey residential building originally constructed in 1963, according to BC Assessment, which values the property at $17,820,300. Wall Financial Corporation owns the property under W.F.C. Properties (Pacific) Inc., according to the Land Owner Transparency Registry." "According to the City of Vancouver, the rezoning application for the project was received on December 13, 2022, considered by the Urban Design Panel on May 10, 2023, and approved by Council at a public hearing on March 12, 2024." "However, the property was recently listed for sale, without an asking price, by Simon Lim, James Lang, and Jessica Hathaway of Colliers, who note that the rezoning approval "mitigates permitting risk on the site and provides immense time savings for construction start." https://lnkd.in/gJArAM64 #vancouver #residential #development

Cranleigh in Surrey will see its housing stock boosted this winter by one-bedroom apartments and two-bedroom houses being sold with the shared ownership model. They will start from £102,000 (30% share) and houses from £118,750 (25% share), while the range will be followed by more one and two-bedroom apartments in Spring. Buyers must purchase a minimum share of 25%. Kevin Sims, director of sales & marketing at SO Resi, said: “As we move into the new year, our commitment to providing accessible housing in affluent areas will only grow stronger. “The average property price in Cranleigh is £640,952 according to property portal Rightmove, which of course is far out of reach for first-time buyers. “With our homes starting from £102,000 for a 30% share, SO Resi Cranleigh will provide a more accessible price point for those wanting to reap the benefits of living in Surrey and will suit both young professionals and small families.” All homes will feature open-plan kitchens, living and dining spaces, integrated appliances and a washer/dryer. Properties have allocated parking, cycle storage and communal gardens, while some have Juliet balconies. Sims added: “Shared ownership is becoming an increasingly attractive prospect for buyers, thanks to its flexibility and low five per cent deposit requirement. “At SO Resi Cranleigh, a deposit starts from just £10,200 which is a far more achievable goal for many aspirational first-time buyers. “We have seen strong demand for new homes here already, as first-time buyers look to escape the rental trap and get onto the property ladder.” Forming part of the wider Leighwood Fields development by housebuilder Berkeley Homes, SO Resi Cranleigh is situated on the edge of the village, surrounded by woodland and countryside. Residents are nearby to Cranleigh Golf & Country Club, which is part of the wider Surrey Hills area, and local shops and eateries. For transport links, Cranleigh is sandwiched between A3 and A24 with direct access to the M25, and for services further afield, Guildford railway station is a 25-minute drive with services to London Waterloo in just 45 minutes. Launching in January, SO Resi Cranleigh is a collection of 4 one-bedroom apartments and 5 two-bedroom houses, with 16 one and two-bedroom apartments launching in Spring 2024. Prices start from £102,000 for a 30% share in a one-bedroom apartment [full market value: £340,000].