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20 135 KEEFER Street in Vancouver: Downtown VE Condo for sale in “THE KEEFER” (Vancouver East) : MLS® # R2190601

Posted by Aedis Realty on January 19, 2018
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Chinatown Overview

Vancouver ChinatownCanada’s largest Chinatown, among the largest in North America, is in the City of Vancouver, British Columbia, in the blocks around Main, Pender, and Keefer Streets with the Gastown and Downtown districts to the west, Downtown Eastside to the north, the residential district of Strathcona to the east, and False Creek to the south. Chinatown remains a popular tourist attraction despite the growth of the newer Chinese immigrant business district in the suburb of Richmond south of Vancouver on Lulu Island in the Fraser River. Many affluent Hong Kong and Taiwan immigrants in Richmond have developed successful Chinese businesses in the area now named Golden Village by the City of Richmond, which once proposed the name “Chinatown” only to encounter strong resistance from the original Chinatown in Vancouver and from non-Chinese Richmond residents and merchants.

Asian Influx

The Greater Vancouver Regional District received large numbers of Asian immigrants during the late 20th Century, primarily Chinese, whose population reached 300,000 by the mid-’90s. More immigrants settled in Richmond than in Vancouver Chinatown for its lower costs of living and closer distance to the Vancouver International Airport. The development of suburban Asian shopping districts with plenty of parking space like Richmond’s Aberdeen Centre, visibly impaired the business heart of historic Chinatown.

Decline

Chinatown businesses today consist mostly of working-class retailers, small groceries, tea shops, and souvenir stores. Some restaurants stand out, but there are no longer so many, and their declining numbers brought less foot traffic and nighttime activity than in former times. The 10-percent Chinatown vacancy rate shows the need for a fresh approach to development to replace businesses that have moved to suburban locations, retired, or simply closed. Redevelopment opportunities are clearly present. Chinatown lease rates from $15–30/square foot are the cheapest in the city, much lower than those in Vancouver’s Downtown shopping district.

The Vancouver Chinatown Business Improvement Area

In the 1990s, the Vancouver Chinatown Merchants Association searched for an effective vehicle for projects to revitalize the area. Gastown and Downtown Vancouver had formed business improvement areas (BIAs) with evident success. With the consent and support of merchants and property owners, the association planned to establish a Chinatown BIA.

After several attempts, the association succeeded in winning the community support necessary establish a Chinatown BIA. The Vancouver Chinatown Business Improvement Area (VCBIA) incorporated in 2000 on a model of BIAs successful in other areas of the city to improve Chinatown’s cleanliness and safety, expand and promote its events, and work with media and external partners to make Chinatown popular and prosperous again. A voluntary board of property owners and tenants manages the VCBIA. The city assists with annual funding through a special property tax like a local improvement levy. Each property’s contribution to the annual BIA budget is according to its proportionate share of the total BIA taxable value.

Information Links:

http://vancouver-chinatown.com
http://vancouver.ca/home-property-development/chinatown-revitalization.aspx

Redevelopment Prospects

A new Chinatown business plan now encourages entrepreneurs to move in to rehabilitate storefronts, attract a young crowd, and make visitors more comfortable. Attracted by low rents and heritage buildings, new businesses have moved in with owners in apartments above the shops. Chinatown’s priority now is to attract people of all backgrounds in the belief that non-traditional stores will bring a new flow of energy and income. Commercial activity is increasingly diverse with vintage stores, two art galleries, bars, and now a nightclub at the location of the former Ming’s restaurant, an attempt to bring back some of the nightlife atmosphere of the 1950s and ’60s. The diversity of new shops and businesses has created a new Chinatown image of vibrancy to compete with suburban districts and complement nearby Gastown and Downtown Vancouver.

New Chinatown Live MLS Listings

20 135 KEEFER Street
Downtown VE Vancouver V6A 1X3

$9,500,000
Residential Attached beds: 4 baths: 7.0 5,757 sq. ft. built: 2009

Main Photo: 20 135 KEEFER Street in Vancouver: Downtown VE Condo for sale in "THE KEEFER" (Vancouver East)  : MLS® # R2190601
Prop. Type:
Residential Attached
MLS® Num:
R2190601
Status:
Active
Bedrooms:
4
Bathrooms:
7
Year Built:
2009
20&50 133&135 KEEFER ST, VANCOUVER. Rare opportunity to live in a fantastic space, but also enjoy huge revenue opportunities. Offered for sale are 3 individual strata units at the renowned Keefer building, each consisting of 1 full floor. The main floor consists of a 1156 sq ft commercial storefront currently rented at $50,000 + GST per year plus a share of the profits. The second floor unit #20 is an expansive 2 bed/2.5 bath loft space. Alternatively, a great space for friends or family. Unit #50 is the PH & consists of an immaculately renovated over 2,200 sq ft loft space with soaring ceilings & a 3,000 sf rooftop & priv glass bottom pool. Bonus: 8 year tax abatement.
Property Type:
Residential Attached
Dwelling Type:
Apartment/Condo
Home Style:
Year built:
2009 (Age: 9)
Total area:
5,757 sq. ft.
Total Floor Area:
5,757 sq. ft.
Total unfinished area:
0 sq. ft.
Main Floor Area:
1,156 sq. ft.
Floor Area Above Main:
4,601 sq. ft.
Floor Area Below Main:
0 sq. ft.
Basement Area:
0 sq. ft.
Finished Levels:
3.0
Rainscreen:
Bedrooms:
4 (Above Grd: 4)
Bathrooms:
7.0 (Full:4/Half:3)
Kitchens:
2
Rooms:
12
Num Storeys:
5
Taxes:
$0 / 2017
Lot Area:
3,049 sq. ft.
Lot Frontage:
25'
Lot Depth:
122
Rear Yard Exposure:
Outdoor Area:
Balcony(s); Patio(s) or Deck(s)
Water Supply:
Plan:
BCS3741
Total Units in Strata:
5
Heating:
Construction:
Foundation:
Basement:
None
Roof:
Floor Finish:
Fireplaces:
0
Fireplace Details:
None
Parking:
Parking Total/Covered:
2 / 2
Parking Access:
Exterior Finish:
Title to Land:
Freehold Strata
Suite:
Floor
Type
Size
Other
Above
Above
Above
Above
Above
Above
Above
Above
Above
Above
Above
Main
Floor
Ensuite
Pieces
Other
Above
Below
Above
Main
Above
Above
Above
Pets Allowed, Rentals Allowed
$3,915.00
Clothes Washer/Dryer/Fridge/Stove/DW, Drapes/Window Coverings, Vaulted Ceiling
Central Location, Shopping Nearby
Pool; Outdoor, Swirlpool/Hot Tub
CITY/NORTHSHORE MOUNTAINS
PL BCS3741 LT 1 DL 196 LD 36 PL BCS 3741 LT 2 DL 196 PL BCS 3741 LT 5 DL 196 LD 36 PID 028-167-431 028-167-473 **SEE ALSO R2190612
Dist to Public Trans:
Dist to School Bus:
1
Property Disclosure:
Fixtures Leased:
Fixtures Removed:
Reno / Year:
Completely / 2015
Units in Development:
5
Services Connected:
Electricity, Natural Gas, Sanitary Sewer, Water
Listed Date:
Previous Price:
Original Price:
  • Photo 1: 20 135 KEEFER Street in Vancouver: Downtown VE Condo for sale in "THE KEEFER" (Vancouver East)  : MLS® # R2190601
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    Unit #20
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  • Photo 10: 20 135 KEEFER Street in Vancouver: Downtown VE Condo for sale in "THE KEEFER" (Vancouver East)  : MLS® # R2190601
    Unit #50
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Larger map options:
Four Sails Realty Inc.
Listing information last updated on 14-Aug-2017 10:24 PM
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