Formerly the site of a Shell gas station, the, 14,400 square foot property at 3949 Shelbourne Street has applied for a site specific rezone (CD-1) to house a six-storey, 78-unit purpose-built rental complex with two ground floor commercial units.
The anticipated unit make-up will yield a mix of 68 studio and one-bedroom residences and 10 two-bedroom suites. An underground parking component accessible off of McKenzie Avenue will accommodate 20 vehicles. This is a big variance to the 117 parking stalls required.
Site Size: 14,400 SF
Buildable SF: 57,302
Unit Mix: 87% Studio, 13% 2 bedroom
Property owner UCANCO GENERAL PARTNERS INC. is a USA foreign entity operating in St Louis, MO. acquired the property in May 2016 for $800,000. The sale was part of a large portfolio of over 135 Shell properties across Canada.The transaction enabled Shell the ability to divest non-core, contaminated real estate, transfer the environmental liabilities to a third party, and guarantee clean-up of the environmental conditions. For more information on the sale read the case study.
Local development company NVision Properties is overseeing the development process.