Vancouver Infill & Lowrise Updates Discussion

[Feathered Friend]

https://mlacanada.com/project/ortus

















54 Strata Homes
(formerly Oak Flats)
Rezoning Application Submitted – May 2017
Building Permit Issued – December 2021

https://www.instagram.com/p/DBaCZboSPL9/

[Feathered Friend]

https://okuliving.com/floor-plans/



















132 Strata Homes
Rezoning Application Submitted – December 2017
Building Permit Issued – December, 2021

https://www.instagram.com/p/DBsIDCQP46u/

[osirisboy]

Wish everything wasn’t always 6 stories

[Feathered Friend]

https://www.marqueegoc.com/properties/



















80 Market Rental, & 20 Below-market Rental Homes, 5 Retail Stores
Development Application Submitted – October 2022
Building Permit Issued – April 2024

https://www.instagram.com/p/DBxMQA3yO1W/

[NewfBC]

1780 Fir Street... Granville Island Residences? Hmmm.....

Ron.

[Migrant_Coconut]

It's literally a block and a half away from the Island; if Olympic Village Station can be nowhere near Olympic Village, this name can stay.

[officedweller]

Right on the old railway right-of-way.

[trofirhen]

Originally Posted by officedweller

Right on the old railway right-of-way.

If I may ask a question: is this a good thing, a bad or negative thing, a nostalgic thing, or simply a purely interested yet incidental observation? Just asking. Thanks for your consideration.

[BaddieB]

Probably upset it hinders future rail transit.

[officedweller]

Yeah, it'll force any future streetcar onto the street (which is what the City wants, but slows it by forcing it into traffic).

[Migrant_Coconut]

On one hand, it's been pretty obvious that City Hall isn't interested in making the streetcar work as anything more than a big, expensive trolley bus (if at all).

On the other, 2nd and Fir is pretty traffic-free, especially if they eventually traffic calm it further; in the unlikely event that a train ever gets built there, it'll probably be fine.

[officedweller]

Fir is the easiest street that goes directly from the Granville Island area to south of Broadway.

[Feathered Friend]

https://www.shapeyourcity.ca/1601-w-2-ave












Automobile Service Centre,
Development Application Submitted – April 2021
Building Permit Issued – July 2022

https://www.instagram.com/p/DB2Y9ljyXs7/

[whatnext]

This is kind of bizarre. Why would the city spend money to acquire this new building (Main at 41st) when the rental units were being built anyway?

Robert Renger
@rrrobbberttt
·
18h
WHAT WAS THE POINT?

Vancouver spent $38.5 M to buy this almost-completed 46-unit market rental building.

It didn’t create one single new affordable or market rental unit, and the City has refused to FOI-release proformas backing up the Mayor’s claim of profits.

FOR RENT NOW

https://x.com/rrrobbberttt/status/1853586950885925152

[GenWhy?]

Originally Posted by whatnext

This is kind of bizarre. Why would the city spend money to acquire this new building (Main at 41st) when the rental units were being built anyway?

Robert Renger
@rrrobbberttt
·
18h
WHAT WAS THE POINT?

Vancouver spent $38.5 M to buy this almost-completed 46-unit market rental building.

It didn’t create one single new affordable or market rental unit, and the City has refused to FOI-release proformas backing up the Mayor’s claim of profits.

FOR RENT NOW

https://x.com/rrrobbberttt/status/1853586950885925152

Is Devon Properties still leasing it out or is the City now leasing it out?

[whatnext]

Originally Posted by GenWhy?

Is Devon Properties still leasing it out or is the City now leasing it out?

Good question.

It is odd that the city would choose this building to purchase and seemingly stonewall FOI requests.

[GenWhy?]

Originally Posted by whatnext

Good question.

It is odd that the city would choose this building to purchase and seemingly stonewall FOI requests.

I don't think we have all the relevant information from this Robert Renger person.

[whatnext]

Originally Posted by GenWhy?

I don't think we have all the relevant information from this Robert Renger person.

Perhaps, but I note Michael Geller, a reputable developer, commenting on why the secrecy.

Story from the Vancouver Sun in the summer:

Exclusive: City of Vancouver enters new territory, buying new $38.5-million apartment building
Column: The recent purchase of a brand new apartment building represents a new approach for the municipal government
Author of the article: Dan Fumano
Published Jul 17, 2024

The City of Vancouver has quietly stepped into a new role recently, buying a brand new residential building with plans to operate it as a market-rate landlord.

Property records show the City of Vancouver spent $38.5 million to buy a six-storey building at the corner of Main Street and East 41st Avenue, with 46 market rental homes and a private liquor store on the ground floor. The building is now in the final stages of construction, with completion expected soon.

No information about this acquisition has previously been publicly released. In response to questions from Postmedia, the city confirmed that this marks the first and so far only time it has purchased a newly constructed market rental residential building.

“There are currently no tenants in the building as final construction is being completed,” the city said in an emailed statement. “Once this work is complete, tenants will be selected by a property management company.”

It will also be the city’s only liquor store tenant, the city said...

....But the acquisition of the soon-to-be-completed Main Street apartment building, which has an address at 188 Woodstock Ave., marks something new for the city.

“The purchase of 188 East Woodstock Ave. represents a new approach for the city, leveraging our resources to directly address the housing needs of our residents,” Vancouver Mayor Ken Sim said in an emailed statement Wednesday. “In addition to supporting middle-income housing, this market rental property will make money for the city through the property endowment fund, offsetting demands on property taxes going forward.”...

https://vancouversun.com/opinion/columni...ory-buying-38-million-apartment-building

[GenWhy?]

Right so the Tweet by Regner is vague so here's a breakdown of what I interpret:

"proformas backing up the Mayor’s claim of profits."
I think Regner's referring to the Mayor's statement in July of 2024 that the rents from this property will make the City money. Regner seems to not believe the Mayor, seeing the purchase price of $38 million for the property, and wants to see the City's books.

FOI-ing financial information seems tricky.

[GenWhy?]

Closed door seems standard practice. Wouldn't call that secrecy. I assume Real Estate gave it the green light. Secures the building (in mint condition) to generate the City revenue.