Plan A Real Estate has applied to the City of Vancouver to develop additional rental units on an apartment building they own at 1170 Barclay Street, The “Florida Apartments”. The proposal for the site includes:

• interior and exterior alterations, including a 2-storey plus roof deck addition,
• a Heritage Revitalization Agreement, to this existing two-storey plus basement, multiple dwelling building,
• increasing the number of apartment units from 16 to 28 units
  
• 7 surface parking spaces at the rear, having vehicular access from the lane
• total overall density of 2.07 FSR. (17,909 SF).

Under the site’s existing RM-5B zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.

Existing Building

The architect for the project is Hearth Architectural Inc. The application explains the design rationale:

“The development proposal for The Florida is to preserve and restore the existing Heritage Class “B” Art Deco building that has long been in disrepair and in need of a major renovation. An addition to the restoration of The Florida will take the form of two storeys that steps back from the face of the existing building to emphasize the original heritage massing and form. With a total of 5 storeys in the new development proposal for The Florida, the floor plans will be redesigned to house more functional living spaces and provide for a good mix of studios, one bedrooms and two bedroom apartments. A total of 23 apartments will provide livability options for West End residents.”

The building was acquired in 2010 for $3,360,000, or a 3.5% cap rate.

Later this week, the City of Vancouver council will consider a report recommending a revised rezoning application for the 28 acre Oakridge Centre site, being jointly developed by Westbank Projects and Ivanhoe Cambridge.

The project was originally introduced back in 2012, and was approved for rezoning over two years ago, to include 11 residential towers and over 4.6 Million SF of total building area including commercial. As was reported in the summer of 2015, the project faced a number of challenges since the rezoning approval, including:

• technical complications of constructing lower parking levels due to an aquifer
• accommodating continuous operation of the shopping mall during construction
• the need to maintain The Bay store in its current location due to lease requirements

The new rezoning proposal is summarized as “shedding 20% of the total density and delivering all of the public benefits from the previous application”. The letter of inquiry from Ivanhoe and Westbank outlines the following proposed changes to the project under a revised application:

• an overall reduction in the amount of new residential and commercial
  density (approx. 20%)
  
• larger park area at-grade
• maintaining the mall at one level with new mall space to be added at grade,
• keeping The Bay store in its current location,
• reconfiguration of the underground parking to avoid the existing aquifer,
• a Civic Centre and park at grade with further rooftop park and open space,
• comparable community amenities including affordable housing, and
•  building heights similar to the 2014 rezoning, but two fewer towers
• project construction in 6 years instead of 8 years
  

The new rezoning application will require a new negotiation on public benefits, and will require a full rezoning process with new public consultation. The total cost of the new application is $1.5M, which will be covered by the proponent.

Millenium Developments first submitted a rezoning application for this 74,661 SF site located at Douglas Road and Goring Street in November 2015, and is now at the point of First Reading, after which it would move to public hearing.

The site is currently industrial and zoned M2, but is seeking approval under the high density residential RM-5s designation.

Details of the proposed project include:

• two highrises of 32-storeys and 26-storeys
• 390 condo units
• 196 one-bedrooms, 182 two-bedrooms, 12 three-bedrooms
• below and above ground parking (429 stalls)
• a total density of 5.0 FAR
• 14,584 SF of work/live space

The architect for the project is Chris Dikeakos.