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Development

Market Spotlight: Burnaby Rezonings

Below is a summary of current rezoning applications going before the City of Burnaby council:

First Phases of Southgate Village Ledingham McAllister is moving forward with the first phases of their 48-acre Southgate Village project, a massive multi-phase development in South Burnaby, for which a master plan was approved in July 2015. The first phase includes a development in conjunction with BC Housing which owns a site across the street from the Southgate property.

  • 7121 Fourteenth Avenue

This 6.82 acre site is owned by BC Housing and was not part of the original Southgate rezoning. The application describes how BC Housing became involved with Ledingham McAllister:

“As the master planning work for the Southgate Village site advanced, an opportunity to also address the Cedar Place site became apparent. Extensive discussions with the applicant, BC Housing, and the City has resulted in an innovative approach to replace existing Cedar Place housing with new units, and access the value in the site itself to generate additional seniors’ non-market housing units.”

Currently, the site is improved with an older low-rise multiple family development in poor condition. The plan is to replace the Cedar Place units within the Southgate site (application below) and to redevelop the Cedar Place site with new family oriented affordable housing.

  • 7201 11th Avenue

The plan for this first phase is to build a 4-5 storey non-market rental apartment building on a 54,774 SF lot at the corner of 14th Avenue and Fifteenth Street. The non-market is intended as the first step to replace 90 social housing units located in a BC Housing development across the street, which is also slated for redevelopment by Ledingham McAllister. The end-result is that there will be a 2:1 replacement of units.

6695 Dunblane & 4909-4971 Imperial Street

This rezoning application in Metrotown, on behalf of Transca Real Estate Development is for the potential construction of a 35-40 storey highrise residential tower with street-oriented townhouses fronting Dunblane Avenue and live/work units fronting Imperial Street. The rezoning involves the consolidation of two sites under the RM3 and RM5s designations, which would total 58,499 SF. The sites were acquired as part of a land assembly in 2014; they are currently improved with lowrise apartments built in the 50’s and 60s.

2285 Willingdon Avenue and 4455-4483 Juneau Street

The plan for this 74,502 SF site in the southern part of the Brentwood Town Centre area owned by Amacon calls for a highrise residential tower and ground-oriented townhouses fronting Juneau Street. The site is comprised of existing industrial buildings and is designated under the Brentwood Town Centre Plan as RM4s, which allows a density of 3.6 FAR.

6921-6965 Arcola Street

This rezoning application is for a 23,760 SF site in the Edmonds area of Burnaby. The proposal is for a 22-unit, 3-storey townhouse development with underground parking. The site is an assembly of six run-down single family lots which are designated RM3 under the Edmonds Town Centre Plan. The total density for the site is proposed to be 1.1 FAR, though the applicant Kingswood Real Estate Management, can achieve a bonus of an additional 0.4 FAR under the plan guidelines.

Further information on these projects and other Burnaby applications can be found here.

January 27, 2016by david.taylor@colliers.com
Development

Townhouses Planned for Norquay Village Area

A development application has been submitted for an RM-7 zoned site on Duchess Street (at the corner of Cheyenne Ave) in the Norquay Village area of East Vancouver. The application proposes to consolidate two single family lots and develop two 4-storey townhouse residential buildings. The proposal includes:

  • 12 townhouse units
  • a density of 1.15 FSR (12,632 SF)
  • total building height of 37.65 ft.
  • at-grade lane parking (8 stalls)
  • 30 bicycle spaces

4740 Duchess

The architect for the project is Eszter Csutkai.

January 26, 2016by david.taylor@colliers.com
Development

Grosvenor Planning Downtown South Tower

Grosvenor has submitted a much anticipated rezoning application for a prominent “Grosvenor Pacific” site at the Northeast corner Hornby and Pacific; formerly the location of Umberto’s Il Giardino. Grosvenor had acquired the site in 2014 for $33.6MM along with the lot at Pacific & Howe.

1382 Hornby

The plan for the 15,000 SF site at 1380-1382 Hornby Street is for a 39-storey residential building and includes:

      • 212 units
      • a total density of 16.25 FSR
      • a building height of 375 feet
      • 238 underground parking spaces, and
      • restoration and relocation of Leslie House, the existing Heritage ‘A’ building that is located on the site (to be relocated to Pacific St on the lane).

Council direction on Potential “Benefit Capacity” in Downtown allows consideration of a rezoning application for this site.

The project, which is being designed by ACDF Architecure in conjunction with IBI Group, describes some of the design elements of the tower, including:

  • brushed stainless steel on the facade
  • metallic soffit
  • white stone cladding
  • tinted glass & glass spandrel

1382 Hornby_51382 Hornby_3 1382 Hornby_4The project joins other higher end condo towers at various stages of development, including Vancouver House, which is now under construction, and Reliance’s Burrard Place, the first phase of which is soon to begin construction.

January 21, 2016by david.taylor@colliers.com
Development

Details Emerge for Onni’s Pearson Dogwood Project

Details have emerged regarding the rezoning of the Pearson Dogwood site at 500-650 West 57th Avenue, as the full rezoning application has now been released. Onni‘s proposed plan for the 25-acre site at Cambie and 57th is for a large-scale mixed-use development that will include:

    • a total density of 2.8 FSR
    • 3,097,262 SF of building area
    • 2,170 total units
    • 5 phases
    • residential use consisting of: market units, rental units and affordable units
    • building heights between 3 and 28-storeys
    • replacement housing for George Pearson Centre
    • a replacement facility for the Dogwood Lodge
    • retail and commercial space
    • a community health centre
    • a YMCA facility with a 25-metre pool and a therapeutic pool
    • a 69 space child care facility
    • a 2.5 acre City park
    • an urban farm
    • a potential future transit station

Pearson_4a

The application describes the rezoning rationale: “The proposed site master plan embodies the principles of Complete Community planning, intertwining health, recreation, retail, and employment uses with housing diversity and affordability.

At the heart of the development is an extensive park and open space system, which includes: a new 2.5 acre City Park (to be designed later through a City-led process); a 1 acre urban farm; the large Pearson Plaza; the High Street Commons, a north-south open space that ties the Pearson Dogwood site to Langara Gardens to the north; and the Cambie Walk retail plaza, which extends from the central open space area to the proposed transit station at 57th Avenue and Cambie Street.
In addition, the open space network is complemented by diagonal pathways through the development blocks in all four corners of the site, providing excellent porosity and movement to and from the proposed transit station to the northeast, the Cambie Corridor, and schools and recreation facilities to the west.
Housing affordability and diversity will be a hallmark of the Pearson project, integrating a variety of people with differing incomes and abilities throughout the site. Affordable and accessible housing units will be included in multiple buildings across the site, with almost half of the replacement units for Pearson residents included in phase 1. In addition, a new 144- bed Complex Residential Care facility will be developed for residents with significant health care needs.
In addition to affordable housing, market housing will include a significant number of larger units (2 and 3 bedrooms), appropriate for families with children. Opportunities for improving affordability of market units will be explored, which may include providing units with modest finishes.”
Pearson_5 Pearson_6The master architect for the project is IBI Group.
January 20, 2016by david.taylor@colliers.com
Development, Market Research

District of North Van Updates CAC Policy

The District of North Vancouver will review a report at council next week that seeks to update the District’s Community Amenity Policy, which has not been reviewed since 2010. The update was required due to increased development pressures and was brought forward partially at the encouragement of the development community. Coriolis Consulting assisted with the review of existing policy.

Here is an excerpt regarding the existing policy:

EXISTING POLICY:

The District of North Vancouver’s existing CAC policy includes two different approaches to
determine the appropriate value of a CAC, depending on the location of the rezoning:

  • In the designated Town and Village Centres (growth centres), the value of the CAC is
    determined through a negotiated approach, equivalent to 75% of the estimated increase in the market value of the property due to the rezoning. The reference to 75% of the increase in property value is to ensure that the CAC does not exceed the
    amount that is financially viable for the development project.
  • Outside the Centres, the CAC value is based on a target fixed rate per square foot of additional residential floorspace approved by the rezoning. Outside of centres, the CAC can be negotiated if the developer thinks the fixed rate is not appropriate or the rezoning exceeds the density identified in the OCP.

Below is an excerpt outlining the recommended changes to be implemented going forward:

“Recommended CAC Approach Outside Centres:

Staffs recommended approach to CACs outside of the Centres is:

1. Establish three separate fixed rate CAC categories outside the Centres with fixed rate
targets as follows:

(a) $6 per square foot (current rate $5) of increased permitted residential gross floor  area for any project with an FSR less than or equal to 0.8 FSR;
(b) $13 per square foot (current rate $5) of increased permitted residential gross floor area for any project with an FSR greater than 0.8 but less than or equal to 1.0 FSR
(c) $20 per square foot (current rate $15) of increased permitted residential gross floor area for any project with an FSR greater than 1.0

2. Negotiate the CAC for the rezoning of any properties that are currently improved with rental housing to take into account the specific details of any rental replacement requirement. The target for negotiations should be at most 75% of the increased value due to the rezoning .

3. Continue to allow negotiated CACs in the specific circumstances currently identified in the District’s policy, but change the target negotiated CAC to be a maximum of 75% of the increased value due to the rezoning, rather than “50% to 75%” of the increased value due to the rezoning as currently written.

Recommended CAC Approach Inside Centres:

Staff’s recommended approach to CACs in the Centres is:

1. Negotiate CACs for major, complex rezonings where it is difficult to determine an appropriate CAC rate in advance of a development application, including:

  • Large sites that have significant land dedications and on-site infrastructure requirements.
  • Sites which include existing rental housing that the District would like to see replaced as part of any redevelopment.
  • Higher density mixed-use sites, such sites in the CRMU 2 and CRMU 3 OCP designations (i.e., mixed-use projects over 1.75 FSR).
  • Highrise residential projects (over 6-storeys in the RES Level 6 designation).
  • Sites identified for a significant on-site amenity.
  • Sites currently zoned for industrial use.
  • Applications that require an OCP amendment.

The target for negotiations should be a maximum of 75% of the increased property value due to the rezoning.

2. Establish new fixed rate area inside the five Centres with a fixed rate target of $20 per square foot (presently negotiated) of additional permitted residential floorspace. The fixed rate areas for inside centres may be found in Schedule 2 of the Draft CAC Policy attached to this report.”

Source: http://app.dnv.org/OpenDocument/Default.aspx?docNum=2796413

January 15, 2016by david.taylor@colliers.com
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David Taylor Personal Real Estate Corporation

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David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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