Cressey Development Group has filed an application to rezone a 12,169 SF site that they own at the corner of West 1st Avenue and Cook Street, just West of Olympic Village. The site sits directly East of their previously completed project “The James”.
The plan calls to rezone from the M-2 industrial zone to CD to permit the development of a 10-storey rental residential building, including:
- 104 rental apartment units
- 51 studio units, 27 one-bedrooms, 20 two-bedrooms and 6 three-bedrooms
- a total density of 5.03 FSR
- a building height of 99 feet
- 50 underground parking spaces
The application is being considered under the Southeast False Creek Official Development Plan and Secured Market Rental Housing (Rental 100) Policy.
Cressey acquired the site in December 2015 for $16,000,000, or $261 per buildable SF based on the expected rezoning.
The architect for the project is Chris Dikeakos Architects.