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Apartment, Development, Office, Retail

Mixed-Use Development Planned for Commercial & Pender

Cressey Development Group has applied to the City of Vancouver for permission to develop a 24,775 SF site at the Northwest corner of Commercial Drive and East Pender Street in East Vancouver. The site is currently zoned MC-1, which allows a total combined mixed-use density up to 2.50 FSR and 4-storeys.

The site is actually located within the boundaries of the Grandview Woodland Community Plan which allows up to 6-storeys, but Cressey has elected to develop under the existing zoning, rather than rezoning. The site to the immediate North can be built up to 10-storeys per the Grandview Plan.

The development proposal for the site at 485 Commercial Drive is for a 4-storey mixed-use residential/commercial building containing:

    • 8,206 SF of retail space in two CRU units fronting Commercial Drive;
    • 3,226 SF of office space on the 2nd floor;
    • 10 rental units (4 studios, 4 one-bedrooms and 2 two-bedrooms)
    • 31 condo units (10 studios and 21 three-bedroom townhouse units)
    • a total density of 2.23 FSR;
    • an overall building height varying from 46.42 feet – 49.67 feet; and
    • one level of underground parking providing 61 parking spaces, having vehicular access from the lane.
    • 11,493 SF of gardens and decks.

 

The architect, Gair Williamson describes the application: “The proposed mixed-use development comprises residential, commercial and office units in forms of four discrete building blocks gathered around an internal courtyard. Bounded by two streets, a laneway and a part wall to the west, the development proposes distinct functions and facade treatments on each elevation. Back of house on the laneway serves parking and utilities; the Commercial Drive frontage is dedicated to commercial units, and the East Pender Street elevation accommodates two main lobby entrances for the residential and commercial components, as well as individual entries to the residential units at grade.

A key feature of the proposed development is the courtyard on the 2nd level. Not only does it host entrances to the residential units, but accomodates a safe, semi-private outdoor amenity for families, allowing functions such as communal gathering and playing.”

The application requires a variance to the maximum allowable height by just a few feet.

The full application can be viewed here (for a limited time only): http://development.vancouver.ca/pc485commerical/index.htm

January 30, 2018by 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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