General Vancouver Updates

[jollyburger]

Website here:

https://130westbroadway.com/

[logan5]

Originally Posted by madog222

Update on the former MEC site on Broadway, according to Daily Hive, including a single new render of the podium park.




Image from Reliance Properties

https://dailyhive.com/vancouver/130-west-broadway-vancouver-former-mec-redevelopment-update

The options for residential development on this site under the Broadway Plan are...

10 FSR - Secured rental and below market rental housing - A minimum of 20% of the residential floor area is required to be secured at below-market rents.

8.5 FSR - Secured rental housing with no social housing requirements

5.5 FSR - Strata ownership housing with no social housing requirements, but must contribute to community amenities.

Interesting to see they opted for the rental (8.5 FSR) over strata. Should see a lot of rental units come on line, even early in the process. There are lots of sites where the rental FSR is much higher than strata FSR.

[Changing City]

Originally Posted by logan5

The options for residential development on this site under the Broadway Plan are...

10 FSR - Secured rental and below market rental housing - A minimum of 20% of the residential floor area is required to be secured at below-market rents.

8.5 FSR - Secured rental housing with no social housing requirements

5.5 FSR - Strata ownership housing with no social housing requirements, but must contribute to community amenities.

Interesting to see they opted for the rental (8.5 FSR) over strata. Should see a lot of rental units come on line, even early in the process. There are lots of sites where the rental FSR is much higher than strata FSR.

Reliance had to find a partner in the BC Investment Management Corporation to make the project work. There are very few institutional or private developers expanding their rental portfolio with 500+ units in one hit. But the strata development market is, for now, dead in the water, so Reliance was probably very keen to find a way of building on an expensive site with little rental return to cover the costs of maintaining the existing building. They've owned it for several years, but MEC paid rent until a couple of years ago.

It's why the number of residential projects in the Broadway Plan will probably be limited for a while - unless it's somebody like Quadreal with very deep pockets, projects are going to be difficult to work financially if the development funds have to be borrowed with a commercial mortgage.

[logan5]

Originally Posted by logan5

The options for residential development on this site under the Broadway Plan are...

10 FSR - Secured rental and below market rental housing - A minimum of 20% of the residential floor area is required to be secured at below-market rents.

8.5 FSR - Secured rental housing with no social housing requirements

5.5 FSR - Strata ownership housing with no social housing requirements, but must contribute to community amenities.

Interesting to see they opted for the rental (8.5 FSR) over strata. Should see a lot of rental units come on line, even early in the process. There are lots of sites where the rental FSR is much higher than strata FSR.

And the developer at 1540 West 10th Avenue decided to go rental, even tough the FSR for strata is nearly the same - 6.5 FSR vs 6.0 FSR. Both rental and strata developments would require 20% social housing or below market rents.

https://dailyhive.com/vancouver/1540-west-10th-avenue-vancouver-rental-housing-tower

[GenWhy?]

Originally Posted by jollyburger

Website here:

https://130westbroadway.com/

Hmm I thought the highest they would be able to go was maybe 15-storeys due to the view cone. Reliance just wastes too much money on these exercises I think.

[Changing City]

Originally Posted by GenWhy?

Hmm I thought the highest they would be able to go was maybe 15-storeys due to the view cone. Reliance just wastes too much money on these exercises I think.

I guess they've been watching the Broadway Safeway saga and are trying to head off anything similar happening. It doesn't seem necessary now we have the Broadway Plan, and they're apparently intending to build in line with it.

[GenWhy?]

Originally Posted by Changing City

I guess they've been watching the Broadway Safeway saga and are trying to head off anything similar happening. It doesn't seem necessary now we have the Broadway Plan, and they're apparently intending to build in line with it.

True that it's quite the elevation change from a site we have up the road, so I guess they're up to the underside of Queen Elizabeth Park viewcones for sections 3.2.1-3.2.4 at this location.

I forget that penetrating view 3.1 (their west tower) is much "taller" than 3.2.4a (their east tower).

For instance, about 2 blocks south you can only max out at about 14-storeys in the "more height allowance area"

[jollyburger]

DP for 450 Alexander

A 16-storey, mixed-use building, containing 180 social housing units, social enterprise space and childcare
An approximate height of 48.8 m (160 ft.)
A floor space ratio of 5.61 (12,714 m² / 136,856 sq. ft.)
A total of 42 vehicle parking spaces and 341 bicycle spaces, having vehicular access from the lane

https://www.shapeyourcity.ca/450-alexander-st-2

[hollywoodnorth]

fencing is up around the whole site for KITS BLOCK at the NW corner of 4th/MacDonald

the rental residential building has been vacated. I would expect demolition to begin soon.

[officedweller]

Originally Posted by jollyburger

DP for 450 Alexander

https://www.shapeyourcity.ca/450-alexander-st-2

I'm surprised at the height at this location
- but I haven't kept track of what's allowed around the DTES.

Is this taller than other social housing in the area?

[jollyburger]

Originally Posted by officedweller

I'm surprised at the height at this location
- but I haven't kept track of what's allowed around the DTES.

Is this taller than other social housing in the area?

I think all the newer ones were around 10 storeys or so.

[madog222]

Yeah, 10-12

[giallo]

Originally Posted by hollywoodnorth

fencing is up around the whole site for KITS BLOCK at the NW corner of 4th/MacDonald

the rental residential building has been vacated. I would expect demolition to begin soon.

What's planned for that corner?

[hollywoodnorth]

Originally Posted by giallo

What's planned for that corner?

https://dailyhive.com/vancouver/new-development-block-kitsilano-beach-district

[giallo]

Originally Posted by hollywoodnorth

https://dailyhive.com/vancouver/new-development-block-kitsilano-beach-district

Looks great. Thanks!

[whatnext]

Originally Posted by hollywoodnorth

https://dailyhive.com/vancouver/new-development-block-kitsilano-beach-district

“Kits Beach District”?

[giallo]

Originally Posted by whatnext

“Kits Beach District”?

You're not down with the "KiBe"?

[Migrant_Coconut]

If the River District can be a five-minute walk away from the actual river, surely the Beach District doesn't have to literally be next to the beach?

[Changing City]

Originally Posted by officedweller

I'm surprised at the height at this location
- but I haven't kept track of what's allowed around the DTES.

Is this taller than other social housing in the area?

It's a similar density to three others developed nearby, including one on the same block (it's 5.67 FSR), but the tower is taller and slimmer to create a large enough uncovered space to meet the requirements of the childcare facility that's proposed, and also avoids shadowing the public and private realm to the north of the site, that includes the outdoor childcare space at the Japanese Hall across the street.

[officedweller]

Thanks!