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Development

10-Storey Building Planned for Broadway and Spruce

Minglian Group has applied to the City of Vancouver for permission to develop a 12,499 SF, C-3A zoned site at the Southwest corner of West Broadway and Spruce Street with a 10 storey mixed use building. The proposal includes the following:

  • 37 market residential units;
  • 3,000 SF of retail on the ground floor 
  • 2,600 SF of office space on the 2nd floor;
  • A building height of approximately 120 ft;
  • A total density of 3.29 FSR;
  • 50 underground parking spaces accessed from the lane with 4 parking spaces at grade directly off the lane.

Under the site’s existing C3-A zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Development Permit Board.

The application describes the design rationale: “The compact footprint of the site and the surrounding environmental variables were the basis for the design approach. The north elevation provides great views of downtown and the north shore while the south looks over lower density development with good sun exposure. The east and west frontages are better suited for more solid wall, helping to mitigate overlook to adjacent towers and deflect ing noise from heavy traffic travelling east and west on Broadway. These factors led to a very slim tower that expresses a strong contrast between the north / south and east / west elevations. The north and south are expressed much more openly with large balconies while the east and west incorporate much more solid wall. The tower is split into two narrower volumes to emphasize the slenderness, provide privacy between units, and buffer the east / west traffic on Broadway. Balconies on the south east and south west corners also project out to give the units on these corners both southern and northern views.”

The architect for the project is GBL Architects.

The detailed development application can be found here: http://development.vancouver.ca/2501spruce/index.htm

The site was acquired in January 2017 for $19,000,000, or $463 per buildable SF.

October 28, 2017by david.taylor@colliers.com

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David Taylor Personal Real Estate Corporation

Colliers International

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David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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