Construction for The Exchange is now well above ground and becoming noticeable from street level.The construction had just reached the ground level back in December.

The 31-storey, 369,000 SF office tower is now over a year into construction, with completion slated for 2017. Aside from National Bank, there have been no major tenants announced for the building yet.

courtesy mcminsen http://po.st/WpSyw2 via @imageshack

courtesy mcminsen http://po.st/NI3oQY via @imageshack

courtesy mcminsen http://po.st/fsUIU5 via @imageshack

City of North Vancouver Council will be considering a draft Housing Action Plan (“HAP”) that has been prepared by CitySpaces Consulting.

The concept for the HAP was first brought forward in 2015 as a way to explore new housing policies to encourage more options and enhance affordability, with particular focus on renters, seniors and low to moderate income families.

Some of the specific policy and regulatory actions being proposed in the HAP include:

Family-Friendly Housing Policy

• Increase the number of family-friendly units within new multi-unit residential
  development projects
• Amend the Zoning Bylaw to require a minimum percentage of three or more bedroom units in all new multi-unit residential development.

Density Bonus and Secured Low-End of Market Rental

• To secure low-end of market rental units in new multi-unit residential development projects
• Update the Density Bonus and Community Benefits Policy to permit a 1.0 FSR density bonus to eligible rental housing in exchange for 10% secured low-end of market rental (10% below CMHC average)
• 100% purpose built rental not required to have low-end of market rental.

Housing on the Frequent Transit Network

• Encouraging the development of new rental housing and reducing construction costs for purpose built rental housing and non-market housing within close proximity to the Frequent Transit Network
• Reduced Parking Policy pilot project – 25% reduction for rental, 75% reduction for non-market if sites located within 400 metres of Frequent Transit Network.

Rental Revitalization Tax Exemption Bylaw

• Preserve the existing rental supply and improve livability of existing rental and social housing through a new Rental Housing Revitalization Tax Exemption Bylaw which would apply to new construction to be exempt from property taxes for up to 10 years depending on eligibility criteria

Fee Simple Townhouses

• Making townhouses more affordable and encourage movement of moderate-income households up the housing continuum and to alleviate pressure on the rental supply
• Create templates for Party Wall Agreements and Service Easement Agreements
• Explore areas to pre-zone for Fee Simple Townhouses

Explore Repurposing Bungalows

• Intensifying single detached lots while retaining neighbourhood scale and character; and reducing demolition waste and to bolster the existing coach house initiative
• Relocation of old bungalows to repurpose as coach houses
• Incentives for owners to repurpose bungalows

A copy of the full report can be downloaded here.

Bonnis Properties has acquired 929 Granville Street in deal for $38,250,000. The property, officially named the Wilson Block, but more widely recognized as the “Tom Lee Music” Building on the Granville Strip is a 5-storey heritage building originally built in 1927.

The 41,000 SF building sits on a 14,985 SF site just South of the prime retail area of Granville and Robson. It is on the heritage register as a “C”.

The building was taken over by Tom Lee in 1989 and the interior substantially redesigned for the music store and head office for the company.

Here is an update for an interesting rental apartment project at Oak and West 14th Street. The project, by Aquilini Development, involved heritage retention of an existing 14-unit apartment building known as the Santa Fe Apartments.

As part of the heritage retention, Aquilini received approval for a 10-storey, 50-unit rental apartment building in behind the current structure, with a total density of 2.8 FSR under the RM-3 zoning. The project was unique in that only 14 units existed on a 12,500 SF site.

The project was approved at public hearing in May 2014.

The concrete tower is now topped out, although completion appears to be several months away yet.

courtesy mcminsen http://po.st/k9iCuZ via @imageshack

courtesy mcminsen http://po.st/9zUcFu via @imageshack

courtesy mcminsen http://po.st/2BrZjX via @imageshack

courtesy mcminsen http://po.st/RZscJv via @imageshack

Bogner Developments has applied to the City of Vancouver for permission to develop a 12,458 SF site on East Boulevard between West 46th and West 47th. The plans for the C-2 zoned site are for a five-storey building including:

• 21 residential units on the first through fifth floors;
• two commercial retail units on the first floor and mezzanine;
• 46 parking spaces in an underground garage;
• overall density of 3.08 FSR (38,357 SF);
• building height of 57.51 feet;
• retention and restoration of the façade of the existing 2-storey commercial building.

Existing Heritage Facade/Building

“In order to achieve the development that is proposed, City Council will be asked to consider a Heritage Revitalization Agreement (HRA), which would approve the form of development and vary the provisions of the Zoning and Development By-law in order to enable this development to proceed. This HRA, as well as the municipal designation of the existing heritage building, will secure the rehabilitation of this heritage resource, and assist in its long-term preservation.”

Rositch Hemphill is the architect for the project.

The site was acquired by Bogner in December 2013 for $5,318,756, or $139 per buildable SF based on the density in the application.