Value Group has submitted their rezoning application for a 16,136 SF site that they own at 24 E Broadway & 2520 Ontario Street; at the Southeast corner of the intersection.

The site is currently zoned C-3A. The rezoning proposal would allow for a 12-storey office building at over twice the density permitted in the current zone. The proposal includes:

• 20,284 SF of retail space;
• 104,755 SF of office space;
• Building height of 148 ft.;
• A total density of 7.75 FSR;
• 6 levels of underground parking, including 230 vehicle parking and 68 bicycle parking.

The application describes the design rationale: “The proposed project is a 12-storey mixed use retail/office building. The ground floor along Broadway is fronted by retail space that reinforces a scale of walking, and shopping with continuous weather protection.

There is also below-grade and above-grade retail space connected to the ground floor by stairs, an elevator, and floor openings to create visual connection with the street and the other levels of retail. On the west of the site, the ground floor is pulled back to allow a seating plaza adjoining a proposed cafe. An on-site public bike share along the Ontario Greenway adds bike capacity adjacent to the Ontario street bike path and pedestrian interest to the corner plaza.

Above the retail base, floors of office are grouped into three distinct ‘blocks’. The lower two blocks are large floor-plate offices which form a podium; rising no taller than eight floors thus avoiding shadowing of the north sidewalk of Broadway from spring to fall equinoxes. Atop the podium, a shared amenity rooftop is open to the building’s office users, and serves as an on-site gym and end-of-trip facilities. Five upper floors of office tower rise above the planted amenity deck.”

This application is being considered under the Metro Core Jobs and Economy Land Use Plan.

The architect for the project is Formosis Architecture.

Value Group acquired the site in 2017 for $13,250,000, or $106 per buildable SF based on the application. The site is currently improved with an older 3-storey office/retail building.

Rize Alliance has submitted their development application for The Grid, a 10-storey office and light industrial project located on the South side of Terminal Avenue (306 Terminal), currently a Tim Hortons.

Details include:

• Ground floor brewery/distillery/ancillary restaurant space;
• 29,000 SF of industrial/manufacturing space;
• 118,000 SF of office space;
• 3 levels of underground parking w/192 stalls;
• a building height of 48 ft.; and
• a total density of 5.0 FSR.

Under the site’s existing I-3 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

A description of the project is provided in the application: “The project seeks to provide flexible floor plates that are suitable for all approved uses in the I-3 Zoning District Schedule. This is accomplished by providing open floor plans with generous floor-to-floor heights and robust electrical and mechanical infrastructure. Each suite is organized around a compact central core allowing for daylight penetration deep into the floorplate. Access to daylight, fresh air and views are provided through double height exterior communal spaces on the upper levels 3-10. The central core will connect tenants to a robust loading facility located on the ground floor level complete with a shared freight elevator servicing the industrial areas, and as well to an enhanced end of trip facility for commuters located on L2. The main level exterior plaza will provide opportunity for a communal social space for the occupants of the building, while also encouraging pedestrian flow from Terminal Avenue South into the Creative hub. “

The architect for the project is OMB.

Rize acquired the site in 2017 for $15,500,000, or $106 per buildable SF.

A 13,700 SF retail and office building on West 4th Avenue near Alma Street has sold for $10,500,000. The building is 2-storeys with office above retail and the site, measuring 11,191 SF is zoned C-2 commercial.

The sale equates to a price per SF of $768 for the building, or $375 per buildable SF based on the zoning. The cap rate equates to 2.8%.

The property had been listed with Macdonald Commercial.

Austeville Properties has submitted their rezoning application for 450 West Georgia Street, a mostly vacant lot with two smaller buildings at West Georgia and Richards. The site is located between Deloitte Summit (400 West Georgia) and Telus Garden.

The proposal calls for a 23-storey office building with retail at grade. Details include:

• 374,068 sq. ft. of office space;
• 1,500 sq ft. of retail space;
• a building height 286 ft.;
• a total density of 15.65 FSR;
• 270 vehicle parking spaces and 236 bicycle spaces

This application is being considered under the Rezoning Policy for the Central Business District (CBD) and CBD Shoulder.

The architect is W.T. Leung Architects.

One of the more fascinating construction projects to watch in town has been 410 West Georgia Street, now known as ‘Deloitte Summit’ after its lead tenant. The building is being developed by Westbank.

The 24-storey, 375,000 SF office tower began below-grade construction less than a year ago and is now well advanced above ground level in part, due to the steel construction which progresses more rapidly than concrete.

Photos courtsey mcminsen