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Development

Oakridge Centre Rezoning to be Revised

Later this week, the City of Vancouver council will consider a report recommending a revised rezoning application for the 28 acre Oakridge Centre site, being jointly developed by Westbank Projects and Ivanhoe Cambridge.

The project was originally introduced back in 2012, and was approved for rezoning over two years ago, to include 11 residential towers and over 4.6 Million SF of total building area including commercial. As was reported in the summer of 2015, the project faced a number of challenges since the rezoning approval, including:

  • technical complications of constructing lower parking levels due to an aquifer
  • accommodating continuous operation of the shopping mall during construction
  • the need to maintain The Bay store in its current location due to lease requirements

The new rezoning proposal is summarized as “shedding 20% of the total density and delivering all of the public benefits from the previous application”. The letter of inquiry from Ivanhoe and Westbank outlines the following proposed changes to the project under a revised application:

  • an overall reduction in the amount of new residential and commercial
    density (approx. 20%)
  • larger park area at-grade
  • maintaining the mall at one level with new mall space to be added at grade,
  • keeping The Bay store in its current location,
  • reconfiguration of the underground parking to avoid the existing aquifer,
  • a Civic Centre and park at grade with further rooftop park and open space,
  • comparable community amenities including affordable housing, and
  •  building heights similar to the 2014 rezoning, but two fewer towers
  • project construction in 6 years instead of 8 years

The new rezoning application will require a new negotiation on public benefits, and will require a full rezoning process with new public consultation. The total cost of the new application is $1.5M, which will be covered by the proponent.

May 30, 2016by david.taylor@colliers.com
Development

Plan for Brentwood Site Includes Two Towers, 390 Units

Millenium Developments first submitted a rezoning application for this 74,661 SF site located at Douglas Road and Goring Street in November 2015, and is now at the point of First Reading, after which it would move to public hearing.

The site is currently industrial and zoned M2, but is seeking approval under the high density residential RM-5s designation.

Details of the proposed project include:

  • two highrises of 32-storeys and 26-storeys
  • 390 condo units
  • 196 one-bedrooms, 182 two-bedrooms, 12 three-bedrooms
  • below and above ground parking (429 stalls)
  • a total density of 5.0 FAR
  • 14,584 SF of work/live space

2360 Douglas RdThe architect for the project is Chris Dikeakos.

May 30, 2016by david.taylor@colliers.com
Development

64-Unit Residential Building Planned for Burquitlam Area

Otivo Development Groups’ plan for a new 6-storey project on a 3-lot assembly at 717-721 Breslay is heading to public hearing. The proposal calls for rezoning from the current RT-1 Zoning to RM-3 Medium Density Residential. The site falls within 400m of the new Clarke Road Evergreen Line Station. Details of the project include:

  • 64 condo units
  • 24 one-bedrooms, 30 two-bedrooms and 10 three-bedrooms
  • a total density of 2.3 FAR
  • 91 underground parking spaces
  • Woodframe construction
  • A CAC totaling $151,400

717 Breslay717 Breslay_2 717 Breslay_1The architect for the project is Cicozzi Architecture.

May 30, 2016by david.taylor@colliers.com
Development, Market Research

Change Coming for City of Vancouver’s CAC Policy

Next week, City of Vancouver council will review a policy report that recommends changes to the Community Amenity Contribution (CAC) policy as part of an ongoing initiative to streamline and simplify the City’s overall approach to development contributions.

 

The major recommendations on changes to the CAC policy include:

 

1. Adjusting CAC target rates annually for inflation
One of the major recommendations is that current CAC fixed target rates will now adjust annually with inflation, just as the current DCL rates do. The proposed inflation rate would be based on a third party index for property and construction costs and would change to reflect “market conditions”. Moreover, there will be a “One-time Inflationary Adjustment Catch-Up to 2015”, as the areas with fixed rates have not been adjusted for several years. Here is a table showing current and proposed new CAC target rates:

CAC Table

The report indicates that the City will minimize any potential negative impacts, either on the
development industry or on the City’s ability to adjust CAC targets and DBZ (Density Bonus Zone) contributions, by:
  • reviewing recommended adjustments with industry stakeholders before applying annual inflationary rate adjustments;
  • carrying out periodic updates to recalibrate CAC targets and DBZ contribution rates. The recalibration of rates would be established by updating the public benefit strategy growth costs and then testing development viability for appropriate growth cost recovery
  • monitoring the pace of rezoning and redevelopment activity in each CAC target and DBZ contribution areas.

2. Administrative Updates to City-wide CAC Policy

The report also identifies some changes to the current overall CAC policy, including:
Removing $3.00 per SF CAC target for Standard Rezonings, and the 1.35 FSR exemption on small site rezonings
The $3.00 per SF CAC rate had been in place since 1999, and had only been used 22 times in 17 years – half of those for office buildings. The City is now proposing to remove this target rate and use a negotiated CAC approach.
Clarifying that CAC payments are due prior to rezoning enactment
Previously, cash-in-lieu payment of CACs could be made at either rezoning enactment or building permit issuance. The new policy will now require payment at rezoning enactment only.
The full report can be viewed here: http://council.vancouver.ca/20160531/documents/p1.pdf

Coincidentally, Council will also receive the Annual Report on Community Amenity Contributions and Density Bonusing for 2015 (the report can be viewed here: http://council.vancouver.ca/20160531/documents/a1.pdf) . Here are a few highlights:
  • in 2015, there were 42 rezoning approvals resulting in 2.4 Million SF of additional density
  • these rezonings generated a total of $103 Million in CACs
  • by comparison, there were 1,600 building permits under existing zoningCAC Table_1
  • in 2015, five large projects accounted for 65% of all CACs:

CAC Table_2

  • Cambie Corridor, Marpole and West End accounted for over 50% of rezoning density and CACs

CAC Table_3

  • There were 14 secured market rental housing projects approved in 2015, representing 1,192 units

CAC Table_4

  • in 2015, applications for density transfers totaling 160,000 SF were approved, reducing the heritage density bank down to 650,000 SF.
  • Affordable housing was the largest recipient of public benefit contributions (56%), followed by childcare facilities (19%), heritage, community facilities, and parks/open space/public art.
May 26, 2016by david.taylor@colliers.com
Apartment, Development

Westbank Planning 214 Rental Units for Gastown Site

Westbank Projects has applied to the City of Vancouver for permission to develop a site at 33 West Cordova with a 11-storey mixed-use building.The plan, which involves a deal between Ian Gillespie, the Portland Housing Society and BC Housing, was first announced a year ago.

33 W Cordova_2

The proposal for the 19,071 SF site that also fronts onto Blood Alley includes the following:

  • 214 rental apartments (80 social housing units /134 secured market rental units);
  • commercial uses on the ground floor and cabaret underground;
  • 163,482 SF of gross floor area;
  • total density of 8.57 FSR
  • building height of 110 ft.;
  • 267 bicycle parking spots.

Under the site’s existing HA-2 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Development Permit Board.  33 W Cordova33 W Cordova_1

The architect for the project is Henriquez Partners Architects. In the application, Henriquez explains the design rationale:

“The Blood Alley project at 33 West Cordova Street will make a significant contribution to the life of Gastown by retaining its heritage facade, providing affordable housing options, reinforcing an active street life through retail, food and performance opportunities, and provide a backdrop for the new Blood Alley Square renovation.”
May 25, 2016by david.taylor@colliers.com
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howard__24 Howard Chai @howard__24 ·
5 Mar

Exclusive:

Brookfield has flipped the Shangri-La Vancouver (now Hyatt) retail podium to Aquilini Group for $55 million. Brookfield bought the property last summer.

Full story:

https://howardchai.substack.com/p/shangri-la-vancouver-hyatt-retail-brookfield-aquilini

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vancouvermrkt Vancouver Market @vancouvermrkt ·
22 Feb

SOLD: East Vancouver Retail & Apartment Building
https://vancouvermarket.ca/2026/02/22/sold-east-vancouver-retail-apartment-building/

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northshorenews North Shore News @northshorenews ·
17 Feb

12-unit Gleneagles townhouse project proposed in West Vancouver

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vancouvermrkt Vancouver Market @vancouvermrkt ·
31 Jan

A new proposal has surfaced for the parking lot next to Waterfront Station.

The redesigned project includes a 26-storey, 416,000 SF office tower, shaped like a tree, cantilevered over the existing station building.

Architect: James Cheng

Details: https://bit.ly/46aUB0W

4

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