Quote:
Originally Posted by Feathered Friend
Strand has opted to split the development permit for 456 Prior into two separate applications.
https://plposweb.vancouver.ca/Public...ctId=249048569
My guess is they've been in a holding pattern with the St Paul's construction, and that this will allow them to move ahead with the east tower. |
It could be a degree of caution to avoid overextending themselves financially too. It's not a neighborhood that has much new (and therefore, more expensive) market rental residential development, so building an initial tower will allow them to confirm they can move forward with the second. They're also the first offering to test the market for healthcare offices.
The other Prior Street office building (already about 50% completed) that was initially offered as healthcare offices was taken by a US medical device company in its entirety, so these will be the first market office spaces near the new hospital.
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