Gracorp has submitted a rezoning application for a site at 1470-1476 West Broadway, on the South side of Broadway just East of Granville.

The proposal for the 15,633 SF site is to allow for the development of a 34-storey rental tower that includes:

• 300 rental units;
• 20% below-market;
• 2,500 SF of retail space;
• a secondary Broadway Subway station entrance for South Granville station;
• a total density of 13.0 FSR;
• A building height of 391 ft.

This application is being considered under the Broadway Plan. The application requests consideration of additional density and for a reduction in the minimum job space requirements.

The architect for the project is MCMP Architects.

The full rezoning application can be viewed here: https://www.shapeyourcity.ca/1470-1476-w-broadway

The Safeway property on West 4th Avenue and Vine Street in Kitsilano has been sold by Sobeys to a partnership between PCI Group and Low Tide Properties for $90,000,000.

The 2.2 acre property is zoned C-2B, which allows mixed use residential above ground floor commercial; up to 3.70 FSR and 6-storeys if the residential is rental. The Broadway Plan does not contemplate towers for the site.

No redevelopment plans have been announced but a likely development scenario under the existing zoning would include a 6-storey rental project with a new Safeway and additional retail on the ground floor.

The purchase price equates to $254 per buildable SF based on the existing zoning at a mixed-use rental density of 3.7 FSR.