By ChangingCity
In 2011 we noted how Maddox, a 34 storey tower designed by IBI/HB, and Salt – this building – would change the neighbourhood. Both are now complete.Maddox is more colourful; the Hornby Street tower for Concert Properties designed by Bingham Hill is less so.
It’s actually shorter than Maddox at 31 storeys, but somehow seems bigger as it was squeezed onto a small corner site where Ticketmaster used to have an office.
Source: Changing City
I am pleased to announce the sale of 526, 536 and 548 West King Edward Avenue to the Tianco Group. This 26,754 SF site sold for $11,250,000.
A project that we wrote about back in January goes to public hearing next week. 2975 Oak Street is an existing 14-unit apartment building at Oak and W 14th that is being proposed for partial heritage preservation and replacement with 50 rental units in a new 10-storey tower; for a total density of 2.8 FSR on the 12,500 SF site. All of this is being done under the existing RM-3 zoning.
Existing Building
Proposed New 50-unit Tower
The Aquilini family bought the property back in April of 2012 for $4,600,000 ($130 per buildable SF based on the proposed density).
Demolish 14 units and build 50…and no rezoning. How are they able to do this?
It’s all about the heritage. The existing building is a Heritage ‘B’ and the proposal includes a Heritage Revitalization Agreement (HRA) for the site.
Under the current RM-3 zoning applicable to the site, the existing building could be demolished and the site redeveloped with a density of up to 1.9 FSR and a building height of 120 feet without Council approval, subject to replacement of the existing rental units and securing these units through a Housing Agreement.
However, as incentive and compensation to the owner for the heritage designation, rehabilitation, and conservation of the heritage facades of the existing building built in 1928, an increase in permitted density to 2.8 FSR with a new tower is being supported by the City.
As with any demolition of existing rental, Aquilini had to provide a Tenant Relocation Plan which meets the requirements under the Rate of Change Guidelines for RM, FM, and CD-1 Zoning Districts.
Overall, not a bad little deal especially considering that this project isn’t going under Rental 100 and therefore rents won’t be capped. But before you get excited about finding another just like it, keep in mind that this one was unique with a very small heritage building on a disproportionately large site RM-3 zoned site. Even the City acknowledges that it won’t be setting a precedent as there are so few properties where an HRA would be viable in this area.
By ChangingCity
This remarkably bold architectural proposal is a residential over retail building for Burrard Street – specifically the northwest corner of Burrard and West 5th Avenue. The architects are Yamamoto Architecture, and the proposal currently has 25 units. The Urban Design Panel will no doubt get to weigh in on the project soon, which is not a rezoning, and so can proceed reasonably fast if it doesn’t hit any hurdles along the way.Source: Changing City
District of North Vancouver council approved a six-storey development near Phibbs Exchange Monday, but despite being billed as affordable housing, the project’s cost was too high for one councillor. The 112-unit Oxford Street development showcases the need for amalgamation between the City and District of North Vancouver, according to Coun. Lisa Muri.
“There’s tons of rental in the City of North Vancouver and if we were one municipality we wouldn’t even be having this conversation,” she said.
The project is a rezoning of four single-family lots between 1561 and 1583 Oxford St. Muri was nonplussed by the building’s size, its design, a lack of green space, and its location on a busy thoroughfare. “The access onto the Second Narrows Bridge has been suggested to come out right in front of this building,” she said.
Other councillors cited the project’s location as a prime attribute. “If ever there was a location in our community where it was appropriate to. .. potentially have a bit of a different model available for a building, this is it,” said Coun. Mike Little, noting its proximity to transit.
Read more: http://www.nsnews.com/news/rental-housing-a-go-near-north-vancouver-s-phibbs-exchange-1.1053957