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Nondescript Broadway property sells for $46 million as part of transit-line land rush

August 23rd, 2016 · 3 Comments

Every time I hear about some crazy price paid for a piece of developable land in the city, it is superceded a few months later by an even crazier price.

The latest was the $46 million paid for 950 West Broadway by someone who appears to be a newbie buyer/developer in town (see story), which was even higher per buildable square foot than the price the Pappajohns paid for the Denny’s site at Broadway and Hemlock. And that was higher than the price someone paid for the Mercedes-Benz site a few years ago. Et cetera. All part of the sudden attraction of Broadway for buyers, as everyone awaits the new transit line.

It’s all kinda nuts, as is everything in Vancouver these days, and I have the luck to record it for posterity.

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