Sold Date: 2017-August
Sold Price: $28,599,400
Wesgroup Properties has submitted a redevelopment application to the City of Vancouver for 5763-5791 Oak Street and 1008 West 41st Avenue. Located on the southwest corner at the intersection of Oak Street and West 41st Avenue, the heart of Oakridge Municipal Town Center immediately beside Oakridge 41st Skytrain Station. The four corners at the intersection has been highly regarded with strict design regulation that will set the standard for future development. The potential density for these corners is high.
Site Statistic:
- Floor Space Ratio: 6.13
The proposed development includes the construction of a 16-storey and 8-storey secured market rental building with 222 units and ground floor retail at the southwest corner of Oak Street & W 41st Avenue on the existing community garden (former Chevron gas station, and a 2-storey commercial building).
- Residential (rental) – 166,313 Sqft (222 units)
- Commercial (Standard retail) – 3,143 Sqft
- Commercial (Grocery retail) – 14,176 Sqft
- Residential parking including visitors – 143 parking space
- Commercial parking – 51 parking space
“Project is a mixed-use development adding a significant number of rental units to the neighbourhood and consists of two towers, 16 and 8 storey, sitting on a 6 storey podium. Ground floor retails are provided alongside of W 41st Avenue and Oak street creating a vibrant frontage for the urbanscape. Two floors above the retail are proposed for below market rental use which could promote affordability in the neighbourhood while from Level 4 to top are market rental units and add to the rental supply of the city. Architecturally the towers are conceived as a composition of buildings that although sharing a similar material palette and form will each have their own unique identity through the treatment and position of elements.”
*All statistical information acquired from Oak Street & West 41st Avenue Transportation Assessment and Management Study Draft
Information Information Acquired From: City of Vancouver
Developer/Architect: Wesgroup