Next week the City of Vancouver will consider allowing a rezoning enquiry for PCI Group‘s site at the Northeast corner of Broadway & Granville to move ahead to the application stage.

PCI already secured a Development Permit for the site at 1477 West Broadway in 2019 for a project including 6 floors of underground parking and storage, retail uses, a subway station entrance, and three floors of office above. The project is already under construction at the P5 parking level.

A higher density rezoning had been contemplated for several years, although the forthcoming Broadway Plan had essentially placed a moratorium on new rezoning applications. PCI’s rezoning inquiry will now be considered as an exceptional circumstance under the Broadway
Plan Interim Rezoning Policy given impacts on the station entrance construction should the project be delayed beyond the station construction timeline.

The preliminary proposal is a rental residential tower above a retail and office podium with integrated station entrance, to a height and density
significantly above what is permitted under existing zoning. Overall, it includes:

• additional retail capacity including a grocery store;
• additional office space;
• market rental residential units including 20% moderate income units.

The rezoning application is expected to pause the current construction, although it is expected to save significant delays later on thereby minimizing impacts on circulation and access to the South Granville station when the Broadway Subway opens in 2025.

The City report can be viewed here: https://council.vancouver.ca/20210721/documents/cfsc3.pdf

The leasing brochure for the existing project can be viewed here: https://www.cbre.ca/properties/search/office/details/CA-Plus-298159/1477-w-broadway-vancouver-v6h-1h6?view=isLetting

The MEC Building at 1077 Great Northern Way in the False Creek Flats area has sold to a partnership between Low Tide Properties and PCI Group for $103,000,000, or $916 per sq ft.

The site allows for a future expansion of the current office building by approximately 60,000 sq ft. on the Northern part of the almost 2-acre site.

The 112,400 SF office building was built in 2014 by Mountain Equipment Co-op and was subsequently sold, most recently in 2018 to Crestpoint for $75,000,000.

Since early 2020, MEC had been attempting to sublease most of the building.

PCI Group have submitted a rezoning application for a 16,104 SF site at 3555-3561 East Hastings Street in East Vancouver. The site is immediately adjacent the Kootenay Bus Loop to the West, and a block West of Boundary Road.

There was previously a restaurant on the site. There is also a small one-storey commercial retail building on the east portion of the site.

The proposal is to allow for the development of a 6-storey mixed-use residential building. The proposal includes:

• 56 secured market rental units;
• 5 studios, 31 one-bedrooms, 17 two-bedrooms & 3 three-bedrooms;
• 6,400 SF of ground floor retail/restaurant space;
• A total density of 3.13 FSR;
• A building height of 79 ft.;
• 49 vehicle parking spaces and 110 bicycle parking spaces.

The application is being considered under the Secured Rental Policy.

The architect for the project is BHA Architecture.

The site had previously been listed for sale for $10,000,000.

PCI Group, in partnership with HOOPP, have completed their acquisition of the Alsco site, a 1.66 acre redevelopment property in the Mount Pleasant area of Vancouver.

The site, located at 5 West 4th Avenue between Ontario and Manitoba Streets is L-shaped and is zoned I-1. The I-1 zoning permits a density of 3.0 FSR, or just over 205,000 SF.

PCI Group has submitted a rezoning application for 495 West 41st Avenue at the Northeast corner of Cambie and West 41st Avenue.

PCI acquired the vacant former gas station site from Coromandel properties last year for $40 Million.

The proposal is to allow for the development of a 14-storey mixed-use building with a rooftop amenity space. The proposal includes:

• 112 market rental units;
• 60 one-bedrooms, 50 two-bedrooms & 2 three-bedroom units;
• 12,625 SF of office space;
• 7,065 SF TD Bank;
• A total density of 6.59 FSR;
• A building height of 150 ft.;
• 64 vehicle parking spaces and 202 bicycle parking spaces

The application is being considered under the Cambie Corridor Plan.

The architect for the project is Perkins & Will.