Posted Apr 2, 2025, 5:16 PM
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Registered User
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Join Date: Dec 2015
Posts: 15,744
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Quote:
The challenges surrounding CRU9, a commercial unit at Park West, Keltic’s signature mixed-use community in North Vancouver’s Lions Gate Village, highlights the growing need for zoning flexibility to ensure commercial spaces remain responsive to both market conditions and neighbourhood needs.
Located just east of the Lions Gate Bridge, Park West offers residents and visitors an urban-style lifestyle in a connected, transit-oriented setting. CRU9 is an 11,800-square-foot retail unit within a larger 46,000-square-foot commercial promenade designed to serve the surrounding community with shops, services, and everyday amenities.
Originally zoned to accommodate a grocery store, CRU9 remains vacant. despite considerable investment and ongoing efforts to secure a food-store operator. The unit was pre-sold for $8.9 million; however, after two years of unsuccessful attempts to find a suitable operator, the original investor rescinded the deal.
At the request of the District of North Vancouver (DNV), Keltic invested an additional $2.5 million and spent nearly 10 more months enhancing the space in hopes of attracting a branded grocer. These efforts were made to comply with a pre-defined zoning requirement established by the District more than a decade ago.
However, the local retail landscape has evolved significantly. Within a one-kilometer radius, several grocery stores have opened, creating an oversaturated market. Despite months of marketing and a price reduction to $7.5 million, the unit remains unoccupied.
Residents and brokers alike have begun asking why the space cannot be repurposed for other essential community functions, such as a food court, medical clinic, pharmacy, childcare centre, or financial institution. These alternative uses could activate the space, better serve the neighbourhood, and align more closely with today’s market conditions.
Despite genuine interest from prospective tenants, including healthcare providers, financial institutions, co-working operators, fitness studios, and liquor retailers, the current zoning restrictions preclude these Uses.
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https://renx.ca/call-for-action-mounting-barriers-to-affordability
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