477 Powell St, Vancouver, BC

Prime Investment Opportunity – 477 Powell St, Vancouver 🏢 5 Separate Rental Units | Mixed-Use Commercial & Residential | High-Income + Redevelopment Potential Prime Investment Opportunity Originally built in 1991 and thoughtfully updated. This property offers immediate income and long-term upside through redevelopment, making it a perfect fit for investors, developers, and land bankers alike. 🔑 Property Highlights: ✅ 5 Separate Rental Units – A versatile mix of commercial and residential tenancies, providing strong, diversified income streams ✅ Mixed-Use Zoning (DEOD) – Situated within the DEOD (Downtown Eastside Oppenheimer District), allowing for a variety of commercial and residential uses ✅ Zoning Incentives – Take advantage of DEOD zoning with a maximum Floor Space Ratio (FSR) of up to 7.0 on corner sites (conditions apply), offering significant redevelopment potential. ✅ Corner Lot Advantage – Prominent corner exposure enhances street presence and future redevelopment flexibility: -Greater design freedom for future builds (e.g. more window frontage, improved light and air access) -Maximized buildable area due to the larger effective lot footprint -Enhanced pedestrian and vehicle visibility – ideal for ground-floor commercial tenants ✅ Great Location: -Steps to Vancouver Port, major employment and trade hub -Minutes to the upcoming St. Paul’s Hospital campus – a $2.2B+ healthcare project transforming the surrounding area -Close to Main Street–Science World SkyTrain Station and other key transit connections DEOD Zoning Highlights & Redevelopment Upside Drastic Social Housing Reduction: The mandatory social housing component has been slashed from 60% down to 20%. This allows for 80% market-rate secured rentals, significantly boosting project viability. Massive Density Increase: New policies allow for a Floor Space Ratio (FSR) of up to 11.0 for rental projects that meet the 20% social housing threshold. Significant Height Allowance: Maximum building heights in the DEOD have been raised up to 100 meters (approx. 32 storeys), a major leap from previous 4–10 storey caps. Streamlined Approvals (Bill 18): Under the new 2026 Official Development Plan (ODP), residential projects consistent with the plan may bypass public hearings, reducing development timelines and risk. Commercial Flexibility: Increased flexibility for "retail continuity" on the ground floor, allowing for a wider range of commercial tenants and higher potential lease rates.