Quote:
Originally Posted by GenWhy?
Does one remember the level of non-residential development occurring around / at/ in placement of, the mall?
EDIT: office mainly
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The 2016 Lougheed Town Centre Master Plan Report says the zoning allows up to 5.0 FAR of residential (about 8.9 million sq. ft. on the mall lands, and 2.2 million in the other sites not owned by SHAPE). "Shape Properties, the majority land owner in the Core Area, is anticipating to achieve the full 5.0 FAR of residential density on its lands as the area builds out over time" That's estimated at over 11,000 units in total, over 30 years.
In theory the zoning allows 6.0 FAR of commercial space to be developed (10.7 million sq. ft. on the mall, and 2.2 million on the other sites). However, "with respect to commercial density, Shape Properties has indicated it is considering in the order of 2.67 million sq. ft. of commercial floor area, the equivalent of 1.5 FAR, for its properties." "For the development sites not owned by Shape Properties, a minimum of 1.0 FAR density commercial density is expected." (That would be around an additional 400,000 sq. ft.).
So the total build of commercial could be about a quarter of what the zoning permits, split between retail and office, and maybe hotel - around 3 million sq. ft. "At minimum, over 5,200 jobs will be created"
On Phase 1, the first 4 towers have 1,539 units over a commercial podium with 128,600 of retail and 24,500 of office, replacing 28,000 sq. ft. of retail in part of the mall that was demolished. Further phases haven't been announced yet.
On the 'other sites' within the Town Centre, Pinnacle have proposed three towers on 9850 Austin over a 430,000 sq. ft. podium, mostly office and a hotel, but some retail. That hasn't been approved yet.