(click map to open City of North Vancouver map)
This has been in process now for some time, and everything looks like it is now moving forward. The City of North Vancouver is allowing 50 foot lots to be subdivided into 2 25 foot lots. In my most recent conversation with one of the City Planners, they told me that the RS1 to RS2 rezone goes hand in hand with a subdivision of the site, and that each site would allow for three residences (without a coach house).
I was speaking to a neigbour of the first property in Upper Lonsdale going through this process, how this impacts his property value.
My response is that it certainly wont hurt the value. In fact, it should increase the land value.
That increase in value will likely have an impact on your property taxes, and for those homes that are at land value range, they should be able to get more money for their homes.
When looking at some similar sites further down the hill, in Central Lonsdale, there have been a few already built, and a few sales too. One property, a new home built on W 14th Street, recently sold for over 2.7M. This was initially a 60 foot frontage site, so the lots we subdivided into two 30 foot frontage lots and there was also a nice view line.
For those that want a new home, this gives that option, of having a nice home between 2000 and 3000 square feet with one or two revenues units to help.