Downtown Vancouver Updates

[Byron]

Hey guys, just saw this happen today. The Ambulance station in Yaletown was just knocked to the ground.

Does anyone know what is going in this spot? What height is it zoned for?

Is the existing brown building facing Drake to be torn down as well? what would the timeline be for that? Has anything been posted anywhere.

[Klazu]

I was looking at that corner few days ago and thinking that it would make great space for one more tower in the area (hopefully the tallest to stand out). Not sure what the plan might be, as I can't recall it having been discussed in here before. Interesting, nonetheless.

[WarrenC12]

Originally Posted by Klazu

I was looking at that corner few days ago and thinking that it would make great space for one more tower in the area (hopefully the tallest to stand out). Not sure what the plan might be, as I can't recall it having been discussed in here before. Interesting, nonetheless.

That ismali centre has been there for decades. I'm not sure who the owner is, but yes, it's ripe for redevelopment.

[Klazu]

It is interesting how the immediate area will have four almost similar height 40-42 floor towers when those two are completed. That's why I hope this site would see something higher to break the pattern. 40 floors is nice, but there are soon too many of those in a small area.

[Byron]

Actually I did a bit more digging and it looks like the two properties are hopefully separate (for the sake of my view...)

http://www.collierscanada.com/13229#.Vg7UbrSdJSU

[Klazu]

Now now, nobody likes a nimby.

Likely they are aquiring separate properties and lumping them into one. Isn't that what is going on with lots around Patina in West End?

[officedweller]

Originally Posted by Klazu

It is interesting how the immediate area will have four almost similar height 40-42 floor towers when those two are completed. That's why I hope this site would see something higher to break the pattern. 40 floors is nice, but there are soon too many of those in a small area.

The longer the developer waits to build - the taller the buildings seem to be...

[officedweller]

A Chinese company just bought the United Kingdom Building for $122M:

A small office tower — the 212,000 square foot United Kingdom building, which might best be described as a B class structure — in the heart of downtown Vancouver sold for $122 million on Monday. The deal has yet to close, so details remain scarce other than that the buyer of 409 Granville St. was from mainland China.

“It sold for more (than) $600 a square foot,” said one source, who said that might be 50 per cent more than the going rate for similar office buildings in the area. “When I heard the number, I thought ‘no way.’ But the thing is it’s right on top of a SkyTrain station. I think the Chinese are buying the land for speculation as much as the building.”

http://business.financialpost.com/news/p...s-as-canadian-commercial-market-heats-up

[LeftCoaster]

Fantastic. I've long hoped someone would redevelop the site, and at that price they need to.

[Klazu]

That's one of the ugliest buildings in Downtown. It is 20-something floors, so it would be a massive demolition, but for that price I would think it is a given that they will re-develop it.

[Prometheus]

Originally Posted by officedweller

A Chinese company just bought the United Kingdom Building for $122M:

http://business.financialpost.com/news/p...s-as-canadian-commercial-market-heats-up

Originally Posted by LeftCoaster

Fantastic. I've long hoped someone would redevelop the site, and at that price they need to.

As long as the city-imposed viewcones continue to stand in the way, any new tower on that site would be artificially restricted to about 115 metres, which is even shorter than Jameson House and The Exchange. Same goes for any redevelopment of the old, smaller building directly south of the UK Building on the corner of Granville and Pender.

[SFUVancouver]

I have actually always sort of liked the United Kingdom Building.

I think that it's a handsome modest office tower and one of the best examples of the quite-distinct version of the International-style of office buildings that were built throughout the UK in the late 50s, 60s, and early 70s.

I expect that the new Chinese owners of the United Kingdom Building will incrementally gut, renovate, and reposition the office building as class A product over the next few years. In the longer-term they will undoubtedly look at their options for redevelopment.

[trofirhen]

Originally Posted by SFUVancouver

I have actually always sort of liked the United Kingdom Building.

I think that it's a handsome modest office tower and one of the best examples of the quite-distinct version of the International-style of office buildings that were built throughout the UK in the late 50s, 60s, and early 70s.

Agree totally. It's infill-sized now, due to the neighbours, but still a sort of classic "gem."

[Jimbo604]

Originally Posted by Byron

Hey guys, just saw this happen today. The Ambulance station in Yaletown was just knocked to the ground.

Does anyone know what is going in this spot? What height is it zoned for?

Is the existing brown building facing Drake to be torn down as well? what would the timeline be for that? Has anything been posted anywhere.

More info:
http://globalnews.ca/news/1660776/future...in-vancouvers-downtown-core-in-jeopardy/

[osirisboy]

Good. Makes sense to get rid of it

[trofirhen]

It seems weird that you would applaud knocking down the only ambulance station in downtown Vancouver.
I hope that was nothing more than a scathing piece of sarcasm.

[BodomReaper]

Originally Posted by SFUVancouver

I have actually always sort of liked the United Kingdom Building.

I think that it's a handsome modest office tower and one of the best examples of the quite-distinct version of the International-style of office buildings that were built throughout the UK in the late 50s, 60s, and early 70s.

I expect that the new Chinese owners of the United Kingdom Building will incrementally gut, renovate, and reposition the office building as class A product over the next few years. In the longer-term they will undoubtedly look at their options for redevelopment.

100% agreed. One of the most stylistically distinct office towers we have - it would be a shame to lose it.

Downtown has countless more sites being used will beneath their potential.

[LeftCoaster]

Originally Posted by trofirhen

It seems weird that you would applaud knocking down the only ambulance station in downtown Vancouver.
I hope that was nothing more than a scathing piece of sarcasm.

It was 750 meters from St Paul's Hospital...

[LeftCoaster]

Originally Posted by SFUVancouver

I have actually always sort of liked the United Kingdom Building.

I think that it's a handsome modest office tower and one of the best examples of the quite-distinct version of the International-style of office buildings that were built throughout the UK in the late 50s, 60s, and early 70s.

I expect that the new Chinese owners of the United Kingdom Building will incrementally gut, renovate, and reposition the office building as class A product over the next few years. In the longer-term they will undoubtedly look at their options for redevelopment.

Hmm, well clearly we disagree on this one. I don't think it meets the street particularly well (not the hardest thing to fix I know) and is just plain old... well... plain. My issues with the building are purely subjective though, could end up being one of those buildings we look at in 50 years and wonder why we knocked it down... but i doubt it!

I suspect that given the size of the floorplates, elevator age etc... the owners will have a tough time re-positioning the asset to anything near an A class standard. Given that I would expect they will keep the building around for several years like you suggested, but try and limit capital injection and extract the maximum amount of value out of the existing infrastructure before moving towards a redevelopment.

[jlousa]

Crane went up today for the Ormidale Block building (next door to Woodwards on Hastings)