Qualex Landmark has applied to the City of Burnaby for permission to rezone the site they own at 4275 Grange to allow a 31-storey high-rise condo building, and a 5-storey non-market rental apartment building.
The site, currently a 53-unit strata building, was sold by Casey Weeks and Morgan Iannone of Colliers in January 2019, and the site area is 45,661 SF.
The Metro Downtown Plan designates the site RM4s and RM4r. In accordance with the City’s Rental Use Zoning Polic the project is required to provide rental units equivalent to 20% of the proposed strata units. The required rental units are to be set at 20% below CMHC median rents.
Slate Asset Management has applied to the City of Burnaby to rezone Metrotown Place in order to allow a complete renovation and expansion of the 250,000 SF office complex, as well as a strata conversion that would total 236 strata units. Slate acquired the property on behalf of their Slate Canadian Real Estate Opportunity Fund in March 2019 for $95,000,000.
The golden clad towers, previously owned and occupied by Metro Vancouver, were built in the early 80s are sited at the western gateway of the Metrotown Downtown neighbourhood on Kingsway.
The RBC building located on the northeast corner of the site is not part of this project.
The rezoning would allow for the following alterations to the property:
230 office strata units;
6 retail strata units;
a total of 223,000 SF of saleable area;
re-cladding of the buildings;
alterations to the site’s public realm & landscaping;
a 39,229 SF increase in total floor area;
an expanded ground and second floor level connection between the two buildings;
upgrade the building envelope to improve energy performance and meet Step 3 of the BC Building Code.
expand the second floor area to match the ground level, and provide additional floor area on the office tower.
strata-titling of some or all of the office and retail space.
a total density of 4.40 FAR.
Existing complex.
Typical office floorplate.
The application describes the design rationale: “The design intent to enhance the office buildings to Class AAA facilities builds on the legacy of the existing landmark Golden Towers as prime office real estate through modernization of the building’s exterior and interior. Classic, minimal, restrained and elegant are key words that influenced the form, shape, materials and colour for this gateway site. And an overarching desire to unify the three elements: podium, tower 1 and tower 3 form the foundation of the architectural language.
Currently the two towers are completely separate buildings. The project’s big move links these two towers on both the ground floor and level 2 to create a connection between the buildings allowing for efficiencies of use and access. The two main entry points off Kingsway and Kathleen are maintained.
The proposed design shifts the primary Kingsway entry closer to the property line to improve the street edge and shape a more intimate and active public space. Both entries are strengthened by framing the doors with a metal panel portal of contrasting colour, creating definition and wayfinding on site. The Kingsway entry is further enhanced through a large airy, light filled double height atrium space. Added retail program at the ground floor frames the double height space, creating increased opportunities to activate the street through small scale shops and cafes. Another, key feature of the building design is the increased amenity areas on levels 2 and 3. The level 2 amenities include: shared meeting rooms, work spaces and a lounge along with a large sub- dividable room for presentations and functions. These semi-public spaces offer business owners and employees shared facilities to meet with clients. Also on level 2 are state of the art end of trip facilities: large bicycle storage facilities offer showers, changes rooms, and lockers to promote healthy lifestyles and riding to work. Further, two transit stations are within walking distance of the site and the City of Burnaby’s street standard upgrades support this ambitious strategy. On level 3 a new club house, gym and an improved outside amenity deck offers private spaces for employees and owners to relax, work out, and have lunch.”
Sterling Pacific Developments have put forward a preliminary development proposal for a 4.5 acre site in the Eagle Harbour area of West Vancouver, located between Caulfield and Glen Eagles. The site is on Daffodil Drive and is bordered by the CN Railway, Westport Road and Eagle Creek.
A previously approved subdivision plan anticipated 10 large single family lots for 5,500 – 7,000 SF houses.
The preliminary plan for the project, entitled ‘Aquila’, includes:
67 townhouse and duplex units;
3 and 4 bedrooms units ranging from 1300 to 2400 SF;
Unit prices ranging from $1,100,000 to $1,900,000;
Tricor Pacific & Redic Developments have applied to the District of North Vancouver for a rezoning and OCP amendment to redevelop seven single-family lots in the Lynn Creek area of North Vancouver on Mountain Highway and Oxford Street, next door to Lynn Creek Apartments, completed in 2018.
The OCP designates the subject site as “Residential Level 6” (RES6) which envisions medium-rise apartments at a density of up to approximately 2.5 FSR. The application proposes a higher density which will require the OCP amendment.
The plan for the 33,000 SF site is to build a new 6-storey rental building that includes:
The target DCL and CAC rates are adjusted annually to keep pace with changes in property values and construction costs.
The proposed adjustment for 2021 is a decrease of 0.8%; the first decrease since the annual inflationary index was developed by the City in 2011.
Here are the new proposed rates:
The new target rates will become effective September 2020.
The report also recommends proceeding with the final phase-in of the Vancouver Utilities DCL rate for high-density residential development on the east side that was approved by Council in July 2018, and the adjustments of the Little Mountain and Southeast False Creek CAC Targets that were approved by Council with the updated CAC Policy in January 2020.
The new target rates for these areas are as follows:
Little Mountain Adjacent: The Little Mountain Adjacent CAC Target will be increased from its current level of $29.88 per sq.ft. to $47.00 per sq.ft. Southeast False Creek: The CAC Target in Southeast False Creek (SEFC) will be increased from its current level of $16.78 per sq.ft. to $67.00 per sq.ft.
First Capital REIT --> Choice Properties REIT and Kingsett Capital are teaming up to acquire the Canadian real estate company in a deal valued at over $9 billion, including assumed debt. Choice Properties will acquire roughly five billion dollars worth of shopping centres, while
