An interesting new industrial building is being planned by Port Capital Group for a unique site at 3399 Bridgeway Street, located adjacent to CP rail property, directly south of the Cascadia grain Terminal and west of the Iron Worker’s Memorial Bridge. The site is zoned I-2. The plan is for a 7-storey building with a basement, including:
- wholesale space with ancillary office use on floors 1, 2, 6 & 7
- mini-storage warehouse on levels 3, 4 & 5
- one level of underground parking
- building height of 100 ft
- total floor area of 112,750 SF (3.0 FSR)
The architect notes that while the site is 37,500 SF in area, there are several factors which make it a challenging site to develop, and they are requesting a relaxation of the height limit to deal with these issues.
“The site is approximately 37,500 sq/ft in area; however , two Statutory Right of Ways (SRW) exist on title (one with Canadian Pacific Railway (CPR) and another with Metro Vancouver,) which preclude any building on approximately 18,600 sq.ft of the lot. The SRW held by CPR is the more restrictive of the two and prevents its paving, its use as surface parking or any form of access. The two SRW’s represent more that 50% of the site that is unbuildable and approximately 25% of the lot that access is completely denied by CPR.”The site was acquired in 2010 for $970,000 and then was more recently sold in 2014 via share transfer. If approved, perhaps a new trend for Vancouver’s increasingly land-starved industrial land base?