In late 2023 the City of Vancouver enacted its new multiplex policies. Presently, multiplex developments are allowed in R1-1 zoning (amalgamated RS zones) and may be 3-6 units (up to 8 for secured rentals) depending on the size of the property. This new “missing middle” product type will almost certainly supplant duplexes and come to dominate the small development market in Vancouver. (Image from City of Vancouver)
Choosing an appropriate building lot is essential in making a multiplex development profitable. In my experience, factors such as overall lot size, specific lot depths and widths, lot position, tree location and neighbourhood are all significant considerations. Additionally, considering Net-Zero building to obtain a 19% bonus density can be a factor in lot choice - bigger is not always better in maximizing the overall sale price per square foot of a multiplex development. Analyzing lot suitability with my clients is an important part of our development site search work. (Image from City of Vancouver)
To be attractive to purchasers, like duplexes before them, multiplex homes should be single family home replacements. In addition to the multiplex requirements to include storage for 3 bicycles per living unit, covered parking should be included (electrical charging outlet must be included with parking). The homes themselves should include ample storage and aim to provide secondary living space. As a part of my services, I review architectural drawings with my clients to enhance livability and thus marketability. (Image from City of Vancouver)
Unlike duplexes, many multiplex projects will be 5 or more units which means they will be governed by the Real Estate Marketing Development Act. This will add to legal costs and timing considerations with respect to marketing the properties. My extensive experience in pre-sale marketing allows me to guide my clients through this process and, if conditions are right, to market the strata lots for sale prior to occupancy.
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