Shape Properties is proceeding with a formal rezoning application for the first residential tower in The City of Lougheed, the project name for the 40-acre Lougheed mall site that was approved for redevelopment under a master plan earlier this year to include 23 residential towers.

The application for the first phase of the project is in a prominent part of the site at the Southeast corner (Northwest corner of North Rd and Austin Ave). The plan includes:

• a 55-storey residential tower
• a total building height of 520 ft.
• 566 units
• 517,000 SF of residential area
• a total density of 2.60 FAR
• 590 underground parking spaces

The application describes the design: “The floor plates of the subject Tower 1 are arranged in two massing volumes that offer a different height extrusion of one part against the other. The larger of the two parts extends up to 55 storeys while the smaller part sits at 47-storeys. This arrangement provides for a landscaped terrace and exposed elevator core.”

Next week the City of Vancouver will consider recommendations to revise DCL and CAC rates. This comes following a decision earlier this year to allow increases to CAC (Community Amenity Contribution) target rates that did not have an inflation mechanism similar to Development Cost Levies (DCL’s – which allowed inflation starting back in 2009). The intent of the increase rates is to keep revenues in line with inflation in property values and construction costs.

DCL Rate Adjustments

• $0.60 per SF increase for higher density residential (>1.2 FSR) and commercial developments;
• $0.20 per SF increase for industrial development; and,
• $0.14 per SF increase for lower density residential (≤1.2 FSR) development.
• For residential and commercial development over 1.20 FSR, the DCL rate equates to $13.91 per SF

DCL Target Rate Adjustments

The changes come into effect September 30th, 2016.

A development application has been submitted for an industrial-zoned property in the Strathcona area of East Vancouver. The plan for the 11,616 SF, I-2 zoned site at 1157 Parker Street is to develop a new four-storey, mixed-use building, consisting of:

• Manufacturing uses on the first, second, and third floors (23,198 SF)
• General Office uses on the third and fourth floors (11,650 SF)
• Total building area of 34,848 SF
• total density of 3.00 FSR
• two levels of underground parking

Under the site’s existing I-2 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning. The architect for the project is Yamamoto Architecture.

The site was listed and sold by Matt Smith and Steve Fame of Colliers.