General Vancouver Updates II

[chowhou]

Originally Posted by logan5

Yes, let’s spread the wealth. Build social housing around all Skytrain stations and de-centralize concentrated areas like Mt. Pleasant, where there is a lot of social housing, and especially the dtes.

The land around Skytrain stations is some of the highest value land around Metro Vancouver; I say they should pass this off to Translink and let them develop the land for $$$.

[Spr0ckets]

It's worth noting (per that article,...and which even I didn't know...) that a large part of the reason why that area around Nanaimo station and 29th Avenue station haven't been densified as much as you'd expect Transit-oriented areas to have been over the last 30 years is because the area doesn't have the services infrastructure to support more housing density, and it's something the city will have to play catch up on to facilitate densifying and upzoning those two skytrain station areas.


What an ironic circular set of contradicting circumstances.

They never upgraded the services and insfractructure in the area over the years because they never expected there would ever be any need for it (they probably imagined they would remain SFH zoned areas forever) , but now that there is a need for it with an added impetus and imperative from the new Provincial housing guidelines to back it, developers can't build them up because they both don't have the services infrastructure to support increased density.

[mcj]

Originally Posted by chowhou

The land around Skytrain stations is some of the highest value land around Metro Vancouver; I say they should pass this off to Translink and let them develop the land for $$$.

It was sold to the "BC Transportation Authority" according to the source. Which could mean the MoTI but Translink is the "Transportation Authority" for the region. Not going to know for sure without more details.

[madog222]

Originally Posted by mcj

It was sold to the "BC Transportation Authority" according to the source. Which could mean the MoTI but Translink is the "Transportation Authority" for the region. Not going to know for sure without more details.

Great job finding the actual source. By what they have written it does sound to be Translink who is officially South Coast British Columbia Transportation Authority.

[jollyburger]

According to filings in the Supreme Court of British Columbia obtained by STOREYS, the buyer was the BC Transportation Financing Authority (BCTFA), a Crown corporation that was established in 1993 whose mandate is "to plan, acquire, construct, hold, improve, or operate transportation infrastructure throughout BC," according to its website.

Sam Nakhleh of NAI Commercial was retained to list, market, and sell the property. The property was listed for $30M in early August — in line with an appraisal given by Saran Appraisals & Consulting on March 8, 2023 — before being reduced to $27M in early September. The purchase and sale agreement with the BC Transportation Financing Authority — for $22,500,000 — was reached on October 4, approved by the Supreme Court on November 16, and closed on November 27, with the BCTFA taking possession of the property on November 29.

On November 15, the day before the court was set to approve the sale to the BCTFA, Junchao Mo, who served as a guarantor for most of Coromandel's mortgages, objected to the sale saying that — at that point — only eight days had passed since the Province introduced the new legislation and that "more time is necessary for the market to absorb the news regarding Bill 47 and the proposed zoning changes."

https://storeys.com/bc-transportatio...rties-nanaimo/

[csbvan]

Yes, the BCTFA is getting into the housing game. This purchase makes sense.

[whatnext]

Originally Posted by chowhou

The land around Skytrain stations is some of the highest value land around Metro Vancouver; I say they should pass this off to Translink and let them develop the land for $$$.

And yet they battled to build social housing at Arbutus and 7th despite strong community opposition and a prime location right near a new transit hub.

Personally I agree with what I think you’re saying, there are other sites that would be better suited to social housing and make more economic sense. For example, that huge empty parcel near Main and SE Marine that was to be a Walmart. Close to a grocery, located on a good bus route but not prime land.

[GenWhy?]

Originally Posted by whatnext

And yet they battled to build social housing at Arbutus and 7th despite strong community opposition and a prime location right near a new transit hub.

Personally I agree with what I think you’re saying, there are other sites that would be better suited to social housing and make more economic sense. For example, that huge empty parcel near Main and SE Marine that was to be a Walmart. Close to a grocery, located on a good bus route but not prime land.

I think social housing next to SkyTrain well outside the core is a great spot. I don't think you can build housing on the lot you mentioned. that spot is close to a large concentration of jobs tho. But it's also not currently being sold at a "discount".

EDIT: Looks like that site sold recently for $150 million and I think it's 3 FSR under I-2.

[whatnext]

Originally Posted by GenWhy?

I think social housing next to SkyTrain well outside the core is a great spot. I don't think you can build housing on the lot you mentioned. that spot is close to a large concentration of jobs tho. But it's also not currently being sold at a "discount".

Well as we've seen lately the only thing that stop SE Marine being used for housing is the construct of zoning. Better it had been used for housing than sitting empty for two decades.

This leads me to the thought that the province and city got their timing backwards. They should have been quietly buying up building sites before they opened up zoning.

[GenWhy?]

Originally Posted by whatnext

Well as we've seen lately the only thing that stop SE Marine being used for housing is the construct of zoning. Better it had been used for housing than sitting empty for two decades.

This leads me to the thought that the province and city got their timing backwards. They should have been quietly buying up building sites before they opened up zoning.

I'd imagine the price tag would be higher than $150m if it was allowed to build housing.

[Vin]

Originally Posted by madog222

The Province has picked up a Coromandel site at Nanaimo Station consisting of 11 SFH lots for $22.5M. That's only $105 / sqft buildable at 5 FSR.

https://dailyhive.com/vancouver/3805...rnment-housing

Thank you, ABC!

In October 2023, Vancouver City Council approved Mayor Ken Sim’s member motion on seven “bold” strategies for housing, which included directing City staff to explore more high-density, transit-oriented developments next to Vancouver’s underdeveloped SkyTrain stations, with a particular focus on the rezoning of lands surrounding Nanaimo Station, 29th Avenue Station, Renfrew Station, and Rupert Station.

(Quote from same Dailyhive article)

[csbvan]

Originally Posted by Vin

Thank you, ABC!

(Quote from same Dailyhive article)

Yes, surely this has nothing to do with the actual provincial legislative changes, and has everything to do with a municipal press release and motion to further study, that has so far yielded no actual policy change

[GenWhy?]

Originally Posted by csbvan

Yes, surely this has nothing to do with the actual provincial legislative changes, and has everything to do with a municipal press release and motion to further study, that has so far yielded no actual policy change

Not to mention the area is to be looked at after REnfrew & Rupert is completed some time in 2025 and the area has HUGE infrastructure upgrade requirements (they nixed areas of plan area from Rupert & Renfrew beacuase of this lack of sewer capacity).

[Changing City]

Originally Posted by GenWhy?

Not to mention the area is to be looked at after REnfrew & Rupert is completed some time in 2025 and the area has HUGE infrastructure upgrade requirements (they nixed areas of plan area from Rupert & Renfrew beacuase of this lack of sewer capacity).

Including Nanaimo Street. The City recently upgraded the sewers on 54th Avenue so that Cambie corridor projects could proceed, and that cost $10m. Oak Street upgrades in Marpole will take 18 months, and are needed because of all the development from the Marpole Plan (and the need to separate sewers). West 49th upgrades are just wrapping up. There's a long list of already identified projects - and they're all urgent! The big projects can be asked to pay for their own sewer requirements, but the smaller ones couldn't cover the costs - which is why DCLs are collected to cover some of the costs.

[simons]

Originally Posted by Vin

Thank you, ABC!

(Quote from same Dailyhive article)

The purchase and sale agreement with the BC Transportation Financing Authority — for $22,500,000 — was reached on October 4, approved by the Supreme Court on November 16, and closed on November 27, with the BCTFA taking possession of the property on November 29.

https://storeys.com/bc-transportatio...rties-nanaimo/

The purchase and sale agreement was finalized a week before ABC Party's announcement linked in that same Dailyhive article and two weeks before the "member motion" Ken Sim said he'd be putting forward so...

[madog222]

4983-4993 Joyce

37 storey, 377 unit residential tower. 100% rental housing

https://plposweb.vancouver.ca/Public...ctId=221597303

[gaviscon]

5055 Joyce a few days ago

[officedweller]

Form


From Lawrence Black twitter April 2nd:


https://twitter.com/LawrenceBlackTV/...38819539030505

[jollyburger]

1587 W 4th Ave

Arno Matis Architecture has applied to the City of Vancouver for permission to develop a new seven-storey mixed-use residential building, containing an Animal Clinic on the Main and 2nd storey, and 22 rental dwelling units above, consisting of:

A Floor Space Ratio of 3.5 (approximately 19,770 sq. ft.)
A proposed height of approximately 72 ft.
Surface parking at the rear having access from the lane

https://www.shapeyourcity.ca/1587-w-4-ave

Here's the renderings of their new offices located behind this project facing West 3rd

https://www.arnomatisarchitecture.co...580-w3-ave.php

[officedweller]

Henry Hudson School

From Lawrence Black twitter posted April 3rd:


https://twitter.com/LawrenceBlackTV/...53824625357246


https://twitter.com/LawrenceBlackTV/...53824625357246