Broadway Office Proposal Revised as Rental Apartments
Chard Development has applied to the City of Vancouver to revise their office project at 8 East Broadway to switch uses to rental residential.
The site is located at the southeast corner of East Broadway & Ontario Street in the ‘Broadway Shoulder Area East – Area B (MBSB)’ sub-area of the Broadway Plan.
A previous rezoning for the site was approved in 2020 for a 12-storey office building totaling 125,000 SF. Changing market conditions and the subsequent adoption of the Broadway Plan has prompted Chard to seek an alternate development scenario for the 16,100 SF site.
The new proposal is to permit a 14-storey rental residential building, including:
- 152 market rental units;
- 55 studios, 42 one-bedrooms, 38 two bedrooms & 17 three-bedrooms;
- 4,200 SF of retail space on the ground floor;
- Floorplates ranging from 7,300 to 11,700 SF;
- A total density of 7.5 FSR;
- A building height of 148 ft.;
- 74 vehicle parking spaces and 320 bicycle spaces; and
- A publicly accessible bike share station.
The Broadway Plan requires a minimum of one floor of ‘job space’ above the ground floor. The application by Chard is requesting consideration of market rental on the second floor, which is a deviation of policy.
The architect for the project is MCMP Architects.
The site was acquired in 2021 for $42,000,000, or $336 per buildable SF based on the revised application.