The long anticipated rezoning of the 14-acre Oakridge Transit Centre site at 949 West 41st Avenue and 5469-5507 Willow Street is nearing the final stages, with a referral to public hearing next week. The master planned project has required a number of minor revisions along the way.

The rezoning application for the site represents the culmination of a 6-year planning and sale process which included:

• Oakridge Transit Centre and Adjacent Sites Policy Statement (2014-2015)
• Sale of site by Translink to Modern Green Development for $440 Million (paid between 2017-2022) (2016)
• Formal rezoning application (July 2019)
• Revised (current) rezoning application (May 2020)

The finalized details of the overall development plan include the following:

• 17 buildings up to 26 storeys in height;
• 1,630 total residential units, including:
  • 1,120 condos;
  • 330 social housing units;
  • 180 market and below market rental units;
• 24,000 SF of retail space;
• 2.36 FSR gross density;
• a 69-space childcare;
• a 2-acre public park;
• new dedicated streets & lanes linking with existing road network;
• total DCLs of $31,246,346 (social housing units exempted)
• public art budget of $2,357,465 ($1.98 /sq ft)
• a total CAC of $80,711,050 – cash & in-kind including:
  • turn-delivery of social housing component ($65,911,050)
  • childcare facility ($8,000,000)
  • public park ($5,000,000)
  • $1,800,000 cash allocated to transportation improvements.

Overall site plan:

The OTC is anticipated to be developed in four phases over a timeline of 10-12 years. The phasing will begin in the southwest corner of the site with the secured rental housing and then move east and northward towards 38th Avenue as shown below:

The total CAC amount of $80 Million is equivalent to $77 per sq ft. of market residential and commercial space (excluding the social and rental housing components).

The total purchase price of $440 Million equates to:

• $300 per buildable SF on the gross overall density
• $372 per buildable SF on the condo/rental/retail density (excluding social housing & childcare space)

The architect for the project is James KM Cheng.

Westbank has submitted a revised rezoning application for the 2.5 acre East Broadway site, originally proposed in September 2019.

The main change to the proposal is a shift away from primarily condos, to primarily market rental units. The revision shows a decrease in the number of condos from 520 to 236, and an increase in the number of rental units, from 160 to 452 units. Details of the updated plan include:

• 452 secured rental units;
• 236 strata residential units;
• Revised tower heights from 24, 27, & 30-storeys to 25, 29, & 30 storeys;
• 63,000 SF of retail including 50,000 SF Safeway store;
• 48,000 SF of office space;
• Public plaza running parallel to the SkyTrain station;
• 486 vehicle parking spaces and 1360 bicycle parking spaces.

The application is being considered under the Grandview Woodland Community Plan(External link).

The architect for the project is Perkins + Will.

Investors Group has sold Trenant Park Square, a 138,716 square foot,
open format, grocery and drugstore anchored retail centre located in the Ladner area of Delta, B.C. to Keltic Canada, for $64,500,000, or a 4.8% cap rate. The property was built in 1989 and sits on a 9.7 acre site with future development upside.

The property was listed and sold by Jones Lang Lasalle. It is anchored by FreshCo. and London Drugs; other tenants include RBC, Dollarama, Starbucks, Cobs Bread, Subway and Kin’s Farm Market.

Keltic Development has submitted their formal development application for 220 Prior Street, a 20,000 SF site, an I-3 zoned site adjacent the future new St. Pauls Hospital that they acquired in February 2020 for $25,000,000.

The proposal for the site includes a new 10-storey office building that includes:

• 1,600 SF of retail on the ground floor;
• 16,000 SF of manufacturing/light industrial uses on the main & 2nd floor;
• 84,000 SF of medical office space;
• a total density of 5.0 FSR;
• a building height of 149 ft.;
• 173 parking spaces on four underground levels.

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.

The architect for the project is MCMP Architects.

Reliance Properties has submitted a development application to rehab and expand a building that they own at 837 Beatty Street in Downtown Vancouver.

The plan includes preserving the existing 2-storey heritage warehouse/office building constructed in 1911, and adding three additional floors of office space. The site is zoned DD is 6,992 SF.

A previous proposal for a 26-storey residential tower was not supported by the City due in part to shadowing on Terry Fox Plaza.

Details include:

• retail uses on the ground floor;
• office uses on the 2nd to 5th floors;
• rooftop amenity space;
• a total building area of 39,000 SF;
• modern mass timber beams and columns and laminated timber floors;
• steel elements to provide code compliant lateral resistance;
• a building height of 90 ft.;
• a density of 5.50 FSR including a 10% heritage density bonus;
• loading is located in the lower level having vehicular access from the lane.

Under the site’s existing DD zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Development Permit Board.

Reliance acquired the site in 2015 for $9,880,000.

The architect for the project is OMB Architects.