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Condo, Development, Retail

49-Unit Building Planned for Main & East 4th Site

PortLiving has submitted a rezoning application for 1940 Main Street, a 17,424 SF site at the Northeast corner of Main Street and East 4th Avenue in Mount Pleasant.

The site, currently improved as “ABC Tireland”, is zoned IC-2 but can be rezoned per the Mount Pleasant Community Plan.

This is the second project for PortLiving on Main, with a 65-unit proposed project at Main and East 6th, called Main Street Arts.

The proposal, dubbed “Main Street Arts 2” consists of a 6-storey mixed-use building, including:

  • 49 condo units;
    • 26 studios, 4 one-bedrooms, 13 two-bedrooms & 6 three-bedrooms;
  • a 37-space childcare facility;
  • 9,677 SF of ground floor retail;
  • 12,178 SF of below grade retail space;
  • a total density of 3.0 FSR;
  • a building height of 72 ft.; and
  • 112 underground parking spaces and 77 bicycle spaces.

The application describes the design rationale: “The project is a 6-storey mixed use building. The ground floor along the Main Street frontage proposes a series of retail spaces that reinforce a scale of walking and shopping with high-quality storefront, weather protection, and floorfloor heights that can accommodate a variety of uses over
time.

There is also lower retail space connected to ground floorwith stairs, floor openings, passenger elevator and skylights to create visual connections with pedestrians along Main St.

The ground floor is pulled back from the south-west corner of the site to create a partially covered public plaza with seating on a sunny corner. A public elevator which frames the plaza along East 4th Ave will provide access to belowgrade retail parking and childcare above.

East 4th Avenue is fronted by retail units and the residential entry lobby. The second to sixth floors are market housing including a significant number of family units. A group
Childcare facility is proposed on the second floor with access from below-grade parking and ground floor plaza via elevator directly off East 4th Ave.”

This rezoning application is being considered under the Mount Pleasant Community Plan and Implementation Strategy.

The architect for the project is Formosis Architecture (formerly Studio B Architects).

February 19, 2019by david.taylor@colliers.com

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David Taylor Personal Real Estate Corporation

Colliers International

DT

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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