Opportunity doesn’t often knock twice — but right now in Moodyville, it just did.With a $100,000 price drop and the City of North Vancouver’s pending OCP amendment increasing allowable density from 1.0 to 1.25 FSR, this property is positioned to gain value the moment Council gives final approval. Informed buyers are moving now—before the amendment makes higher pricing inevitable.A Moment Where Policy and Market Timing Align
The City’s OCP update — expected for final adoption in December 2025 — will raise permitted density and allow up to four storeys for townhouse and stacked-townhome developments along East 3rd Street. That may sound like a modest change, but a 25% increase in buildable floor space can significantly impact project viability and land value. For developers who understand the importance of timing, these policy windows represent the most strategic moments to enter a market.
The Property: 658 East 3rd Street
Located within the East 3rd Street (Moodyville) Development Permit Area, this site sits in the heart of North Vancouver’s townhouse growth corridor — just steps from Moodyville Park, the Spirit Trail, and transit connections linking directly to Lonsdale Quay and downtown Vancouver.The property offers immediate upside from both a land value and build potential standpoint, with future zoning flexibility and assembly opportunities already embedded in the City’s long-term vision for the area.Why This Site Stands Out
- Density increase: City OCP update (expected Dec 2025) lifts FSR to 1.25 and allows up to 4 storeys.
- Proven market: Moodyville townhome projects continue to outperform for absorption and resale pricing.
- Transit-connected and walkable: Steps to the R2 RapidBus, the Spirit Trail, The Shipyards, and Queensbury Village shops and restaurants.
- Neighbourhood momentum: Surrounding blocks are already moving forward with rezoning applications — one nearby site is seeking up to 4.2 FSR.
- City leadership: The City of North Vancouver, named Canada’s #1 Most Liveable City (Globe and Mail), continues to lead in progressive housing policy and supply initiatives.
Property Overview
- Address: 658 East 3rd Street, North Vancouver
- Lot Size: 6,850 sq.ft.
- New Price: $2,695,000
- Current Zoning: RG-3
- OCP Context: Within the East 3rd Street (Moodyville) DPA; amendment increasing FSR to 1.25 (townhome or stacked townhome form, with assembly potential)*
The Bigger Picture
While some developers continue to wait on the sidelines, informed buyers are acting on the fundamentals: limited supply, clear policy direction, and a City that’s expanding density in its most connected neighbourhoods.Once the OCP amendment is officially adopted, land values along East 3rd Street will adjust upward to reflect the new FSR baseline — a shift that makes current pricing an opportunity rather than an uncertainty.In short: this is the timing window.To discuss zoning potential, assembly opportunities, or upcoming policy timelines:
Call Ashley Casali at 778.899.6190