Post by
undervalue on Jan 29, 2024 5:18pm
Transit land values East Vancouver.
DEAL | This 0.67-acre development site just 50 metres from the Nanaimo SkyTrain station sold pursuant to a Dec. 13, 2023 court order. Consisting of nine lots with eight single-family residences, the property sold to local investors for $19.5 million. The price works out to nearly $29 million per acre. Zoned CD-1(210), the transit-oriented site is designated for a 25-storey tower under the Vancouver Plan. The property was listed with Bill Randall, Casey Weeks and Morgan Iannone of Colliers International in Vancouver.
If you google BC Transit land use, you can find maps of the transit development areas. Rupert Staion is identified in the documents.
The MPC holding is 6.3 acres within 200 meters of the station. It is not comparable because it is employment lands. However, it is 3$ a share if it was. My guess, it has huge potential and is indicative of the value in a $5.50 share price.
Comment by
undervalue on Feb 27, 2024 6:33pm
Apparently the East 14th apartment block could handle 25 stories as well.