Concord Pacific has applied to the City of Vancouver to amend the existing CD-1 Zoning for the Marine Garden Site at 445 Southwest Marine Drive, just east of the rapidly changing intersection of Marine Drive and Cambie. The proposal includes:

• two residential towers totaling 514 units in 388,000 sq. ft.: one at 27 storeys (235 ft.), with a 7 storey podium, and one at 21 storeys (185 ft.), with a 6 storey podium;
• 70 units of affordable housing and a 37 space daycare in a 6.5 storey mid-rise;
• 411 underground parking spaces; and,
• a density of 4.27 FSR

This project comes on the heels of Marine Gateway by PCI (415 units) and MC2 by Intracorp (443 units). In addition, Wesgroup owns the site at the Northwest corner of Cambie and Marine which could add another 400 units. In total, this intersection could see close to 2,000 new units in under 5 years…

Twelve-storey proposal will go to public hearing.

A 12-storey building proposal for Vidal Street in White Rock was moved forward at council Monday, paving the way for the public to have its say.

The proposed development would see 12 townhouses and 97 apartment units go up between 1467 and 1519 Vidal St., the site where the Mariners Reach townhouse complex currently stands.

Coun. Larry Robinson said he expects a fair bit of community discussion surrounding the proposal, which could set the mood for future developments.

Another Westbank project is heading to public hearing, this time at 2200 Kingsway which was formerly a Canadian Tire.  The proposal features three towers that total 404 residential units over 350,000 square feet of gross floor area and 597 parking spaces. 

An interesting article on some of the pioneers of the REIT world.  REITs have become like daytime talk shows, new ones pop up every week and for any sort of real estate asset class. 

Cohen & Steers Looking Beyond REITs and Real Estate.

Proposed 46-storey tower in limbo.

A proposal for what could potentially be one of Burnaby’s tallest towers – standing at 46-storeys – was withdrawn at a recent public hearing held in council’s chambers.

On March 19, three rezonings were up for public input, except for the highrise proposed for Gilmore Ave. with a three-storey townhouse podium facing Halifax Street and a two-storey residential amenity podium that included a rooftop swimming pool.

Coun. Colleen Jordan, who attended the public hearing, said she could not comment on why the proposed tower was withdrawn.

Now the proposal is in limbo – it will either go to a future public hearing with changes or not go ahead at all. The site’s developer is Millenium Development, which has also developed 10 other highrises in the city, including Mayfair Place, Belvedere and One University Crescent in the SFU community.