Over two years after originally unveiling plans for a new rental tower at Lonsdale and 13th, Hollyburn Properties is now close to final council approval. Hollyburn has had to seek a relaxation to the OCP height limits for the site – previously affirmed as 121 feet in the OCP. The current proposal is for a 187 ft tower. The plan is for a 19-storey mixed-use development that includes:
- 16-storeys of residential with 144 rental housing units
- a partial storey of amenity space, over a two storey, 27,290 SF retail and office podium including 6 CRU units
- a total density of 4.80 FSR
The site is currently zoned ‘C-1A’ which allows for a density of 2.6 FSR. The OCP allows for density of 3.0 FSR with a Density Bonus up to a maximum of 1.0 FSR in the Mixed Use Level 4B Designation for a total maximum density of 4.0 FSR. A maximum height of 37 metres (120 feet) is currently established for the site and the site has been designated a “Special Study Area” in anticipation of further exploration of appropriate form. The proposal includes the purchase of 0.8 FSR (22,186 SF) of rental transfer density at a rate of $90 / sq. ft., resulting in a cash contribution to the City of $1,996,758.
