Tianco Group has applied to rezone a 26,579 SF site at 526-548 West King Edward Avenue from RS-1 to CD-1 under the guidelines of the Cambie Corridor Plan. The proposal is for a 6-storey residential building and five townhouses along the lane, including:

• 69 residential units;
• a maximum building height of 63 ft.;
• a density of 2.45; and
• 65 underground parking spaces.

The site is an assembly of three single family lots that were assembled and sold in 2011.

More details on the rezoning application can be found here.

The City of Vancouver has released an administrative report that provides information on Community Amenity Contributions (CACs) and Density Bonusing for 2014. These types of reports highlight some interesting market information. Of note, 2014 generated more than the previous two years combined, primarily as a result of the Oakridge Centre rezoning approval.

Here are few highlights:

• In 2014, there were 50 approvals of additional density resulting in a net increase in floor area of 6,500,000 SF and total public benefit in the amount of $234 Million.
• The rezoning of Oakridge Centre in May 2014 represents 60% of the density and CACs generated
• 80% of the public benefits are provided as on-site contributions, and 20% were cash in-lieu
• 95% of additional density approvals aligned with recently approved community plans
• The heritage density bank has been drawn down to 800,000 SF, a 50% decrease since the creation of new heritage transfer density was put on hold in 2009
• There were 14 approvals for secured market rental housing in 2014, or 1,073 apartment units

For those interested, the report provides a full list of all rezoning applications approved by Council in 2014 that generated additional density and public benefits.

A rezoning application has been made for a site at 225 Smithe Street, at the Northwest corner of Smithe and Cambie in Downtown Vancouver. The plan calls for rezoning from the existing DD (Downtown) District to CD-1 to allow a 26-storey residential above office mixed-use building that includes:

• four levels of commercial space totaling 27,000 SF;
• a  building height of 286.8 ft;
• a density of 11.85 FSR;
• 114 residential units; and
• 178 underground parking space

This rezoning application is being considered under the Rezoning Policy for the Central Business District (CBD) and CBD Shoulder.

The site was previously owned by James Schouw and envisioned for a luxury 28-unit condo building called ‘Thalia‘, but was later sold under foreclosure to Boffo Developments in 2011. The purchase price at that time was $11,600,000.