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So Long Blockbuster, Hello Residential Development

The demise of movie store chains has brought pockets of vacancy across the Lower Mainland with both Rogers Video and Blockbuster closing its doors. While most vacancies are simply plastered with 'for lease' signs, the building owner that once leased space to Blockbuster at 3195 Oak Street is proposing a redevelopment strategy that would build a 6-storey building with 39 market rental units and retail at ground level. The building owners have applied to the city to rezone the property under the Rental 100 incentive program which assists the developer with costs so long as they commit to building all rental units with average sizes, modest construction costs, and mid-range level finishings.

· Apartments proposed for former Blockbuster on Oak St. [Vancouver Market]