A SW Marine Drive mansion that’s less than 20 years old could be redeveloped into a townhouse project with secured market rental units.
The home, which is currently on the market for $15.5 million, is being advertised as a “Southlands estate home with potential rezoning under the Affordable Housing Choices Interim Rezoning Policy in process.”
That process could see the 4,349 sq. ft. home demolished to make way for 16 townhouses containing a total of 28 units. There would be 24 underground parking spaces and 68 bicycle parking spaces.
The existing home was built in 2005 and sits on a one-acre lot. It has three bedrooms and five bathrooms, and according to the details of past listings of the property, over $2 million was spent on landscaping.
The City of Vancouver’s Affordable Housing Choices Interim Rezoning Policy is meant to “encourage innovation and enable real examples of ground-oriented and mid-rise affordable housing types to be tested for potential wider application that will provide ongoing housing opportunities.”