Redevelopment Application: 5763-5791 Oak Street, 1008 West 41st Avenue, Vancouver (Oakridge MTC)

Redevelopment Application: 5763-5791 Oak Street, 1008 West 41st Avenue, Vancouver (Oakridge MTC)

  • Redevelopment Application
  • Vancouver
September 16, 2020

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

Yoyoe Lu

Founder and managing principal

Yoyoe is the founder and managing principal of Claridge. She was ranked one of Vancouver’s top real estate agents. Currently, Yoyoe is our strategic mind leading the team to success. Her affiliation with industry professionals put her ahead of our competitors. Yoyoe is also part of the Rotary Club of West Vancouver, Canadian Homebuilders Association, Urban Land Institute and Urban Development Institute.

Ashley Osborn

Development Site and Investment Specialist

Ashely is our lead land and investment advisor. He has been consistently featured in the annual top 100 real estate deals of British Columbia ranking. With over $15 billion worth of domestic and international real estate investments under his belt, Ashley is one of the top agents in the province. His 20 years of real estate and financial experience make him a master in negotiation and acquisition.

Patricia Wong Chong

Investment and Leasing Specialist

Patricia is our investment and retail leasing advisor. Her experience in brokerage and market research analysis has helped her comprise over $550 million in commercial real estate transactions. Patricia is responsible, detail-oriented, and professional. Her strong work ethic and positive attitude have led her to surpass all her competitors.

Schumann Li

Land Assembly & Residential Specialist

Schumann is a top-producing realtor in the Lower Mainland with more than 30 years’ experience. Over the years, Schumann hasn’t just garnered awards, but the trust of countless customers. Her clients continually refer to her outstanding professionalism, work ethic and poise.

Wendy Kaip

Sales Associate

Whether it’s decoding city policies, strategizing relocation plans, home sellers looking for a trustworthy advisor to unlock their property’s maximum potential- Wendy is here to help every step along the way.

Prior to real estate, Wendy spent over a decade in the mining industry with her attention to detail, keen negotiation skills, extensive network and strong reputation for getting the deal done, bringing endless value to her current real estate clients.

Whether you are thinking about selling to a developer, or have more questions about commercial real estate, Wendy invites you to connect, to see how she can utilize her expertise and team to help create value and maximize your real estate goals.

Simon Chan

Managing Broker

Simon is the managing broker of Claridge Real Estate Advisors Inc. His expertise has helped our agents resolve many difficulties. Not only is Simon knowledgeable with real estate legislation, but he is also very detail orientated. With Simon on our team, our agents are confident to conduct businesses and will always get the support they need to ensure they’re not walking on dirty water.

Frank Zhou


As the analyst of the company, my key job is to help brokers to find marketable clients and locate feasible development sites by collecting and analyzing up-to-date market transaction data and conducting target market and property-level research. Meanwhile, I am also in charge of maintaining the company’s property database to ensure accuracy and comprehensiveness and continuously upgrading the level of knowledge by staying up to date with hot topics, and market trends, and incorporating findings into everyday work. Before joining the company, I worked for CR Group as a real estate investment manager, focusing on capital raising, equity and debt financing, acquisition and renovation. I hold 2 master’s degrees, one in Housing Management and the other in Economics.