A residential building in Sapperton that had been listed at $31 million has sold.
Goodman Commercial Inc. reports that the Premiere, located at 408 East Columbia St., has sold. The purchase price was not released.
“Premiere is an exciting opportunity to acquire a brand new, fully leased 72-unit market rental component within a six-storey mixed-use project,” said a listing about the property.
According to the Goodman Report, the building includes four levels of residential suites on levels three through six. It includes a fully equipped fitness facility, 73 secured underground parking stalls for residents (all of which are pre-wired for EV charging), end-of-trip facilities (including a bike maintenance room, two showers and dedicated bike storage rooms) and a rooftop amenity space (featuring barbecues, seating, and a children’s play area).
“Two airspace parcels comprising ground-floor retail and second-floor office space are under separate ownership and not part of the offering,” stated the listing. “The rental component represents the remainder parcel, with ownership of the 72 rental suites along with common areas and full operational control over then building.”
The residential component of the Premiere contains 44 one-bedroom, 24 two-bedroom and four three-bedroom suites.
New Westminster city council recently considered an application related to the ground-floor retail space in the Premiere.
At its Dec. 11 meeting, council received a preliminary report about a rezoning application for 408 East Columbia St., where an applicant wants to locate a dental clinic within an existing commercial retail unit. A staff report explained that the proposed use would exceed requirements “for non-active uses” in the current zone, so a rezoning text amendment is required in order for a dental clinic to open in that space.
Council unanimously approved a staff recommendation to direct staff to work with the applicant to prepare a zoning amendment bylaw for the subject property for council’s consideration. At that meeting, council members also voiced support for efforts to retain local businesses in the city’s retail areas, including Sapperton, and to ensure businesses contribute to the streetscape.
