I am pleased to introduce this remarkable mid-rise residential development opportunity in Port Moody. Please download the brochure below for more information.
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Strand Development has submitted an application to rezone a 20,727 SF 3-lot land assembly at 210-262 West King Edward Avenue on the Southwest corner of Columbia and King Edward from RS-1 to allow a rental residential development that includes:
- one 4-storey building on West King Edward Avenue with 2-storey townhouses facing the lane;
- 52 market rental apartment units;
- 3 studios; 29 one-bedrooms; 15 two-bedrooms & 5 three-bedrooms
- a building height of 44 ft. from grade;
- a total density of 1.77 FSR; and
- 54 underground parking spaces and 66 bicycle spaces.
The application is being considered under the Cambie Corridor Plan.
The architect for the project is Yamamoto Architecture.
The City of Vancouver Council will receive a staff report this week providing an update and high-level strategy to deal with the long-term land leases covering much of the False Creek South neighbourhood. What will likely follow is a multi-year planning process that will pave the way for redevelopment of some portions of the land.
False Creek South covers 136 acres extending along the waterfront from the Burrard Street Bridge to the Cambie Street bridge (excluding Granville Island), and it includes 23 acres of parks. About 80% of the land is owned by the City and was developed primarily in the 1970’s as either market strata, rental apartments, or co-ops.
Most of the housing on City-owned land are on ground leases, the majority of which are set to expire between 2036 and 2046 (with one co-op expiring as early as 2022. This includes 669 residential strata units and 48 commercial strata units.
The City is now proposing to work over the balance of 2016 to establish a foundation before a new community plan is developed in the coming years. Overall work includes:
1. Lease-end Payment Methodology
City staff continue to work with the provincial government and to consult with False Creek South strata leaseholders to clarify the methodology for determining the fair market value of each strata leaseholder’s interest in the strata lot upon expiry of the strata lot lease.
2. Co-op and Non-profit Residential Leases
The GM, Community Services report back to Council in Fall 2016 with a timeline for negotiating False Creek South co-op lease renewals in context of a broader non -market housing end- of-lease strategy framework.
3. Landowner Due Diligence
In its role as the major landowner in False Creek South, the City will evaluate the costs, benefits and implications of various renewal, extension and redevelopment options while recognizing the importance of providing certainty for leaseholders.
4. Affordable Options to Remain in Neighbourhood
City staff work with the False Creek South Neighbourhood Association, to explore affordable housing options for False Creek South residents to remain in the neighbourhood, in line with the City’s affordable housing policies and programs.
Champion Development Group Inc. has applied to the City of Vancouver for permission to develop a 18,128 SF site at 151 West 5th Avenue, on the NOrth side of West 5th between Columbia and Manitoba Streets. The plan is for a new 4-storey mixed use building consisting of:
- Manufacturing uses on the ground floor and mezzanines;
- General Office uses on the 2nd through 4th floors;
- 95 parking spaces in an underground parkade; and
- total density of 3.00 FSR (54,291 sq. ft.).
Under the site’s existing I-1 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.
The application describes the design concept:
“The design intent for the project is to create a high-quality, mixed-use development with offices, industrial uses, and collaboration spaces that will enhance the existing neighbourhood and its industrial zone. The overall form and character of the building is inspired from the industrial history of the area and is celebrated in a modernized building to service contemporary industries and office tenancies.
The building is designed with the ability to service small and large scale tenants and the spaces are planned for flexibility and various business types. Double height industrial space on the ground floor with mezzanine space will serve potential manufacturing, storage or production companies while the upper office floors will provide open spaces with access to the outdoors.”
Cressey has applied to the City of Vancouver to rezone a 4-lot assembly sold by our team in 2015 for $20.4 Million.
The plan for the 36,637 SF site at the Northwest corner of Cambie and West 31st Avenue is for two 6-storey residential buildings that include:
- 74 residential units;
- 26 one-bedrooms, 27 two-bedrooms and 21 three-bedrooms
- maximum building heights 69 ft. and 71 ft. from grade;
- a total density 2.36 FSR; and
- 157 vehicle parking spaces and 101 bicycle spaces.
The application is being considered under the Cambie Corridor Plan.
