Larco has submitted their rezoning application for the 4.4 acre site that they own in the Lower Capilano area; home to a former athletic club near Capilano Road and Marine Drive. This project will be adjacent to another 262-unit two-tower project announced earlier this year.

The plan calls for a mixed use project which would include 451 residential units, a small amount of at grade commercial, a mini-storage operation, and a public community centre.

The proposal is to build this project in four phases over ten years, with the community centre targeted to begin construction in year seven. Project details include:

• A total of 451 residential units;
• An 18-storey residential tower and a 12-storey residential tower;
• Three 6-storey apartment buildings, one of which is a market rental building;
• A 4-storey apartment building (two storeys over top of the community centre);
• A 4-storey seniors’ rental building;
• Twenty 2 and 3-storey townhouse units.
• A 26,550 SF community centre on the north side of the public plaza in the foot of the 12-storey tower;
• A public plaza in line with the future cross roads;
• A continuation of the open space with the village green park area next to the plaza;
• A new greenway trail along the western edge of the site;
• 4,200 SF of commercial space next to the public plaza; and
• A 125,000 SF underground mini-storage facility in the 3rd level of the basement.

Richport Town Centre, a large strip retail and office complex located on a 5.37 acre site on Ackroyd Road has sold for a reported $74,800,000.

The property contains 116,426 SF of rentable area and is anchored by Chapters Books, Royal Bank, Starbucks, Pennington Superstore, and City Fresh Market and many other retail and office uses.