One of the most divisive proposed developments in Vancouver in a long time is currently being considered by Vancouver city council. The Rize Alliance Properties development at Kingsway and Broadway promises to radically change the area where Kingsway, Main and Broadway meet. An article from BC Business is in support of this development and offers some insight into the issues. The original development proposal was more aggressive at 26 stories but has since been scaled back to 19 stories following public opposition. Notice in the renderings above how the building height differs depending on which party it was created by and their particular interest. The rendering closest to reality is likely the one created by the City.
It seems to me that this location is an ideal place to increase density since it’s well-located close to public transportation along the Broadway corridor and is a walk or quick bus ride to two Skytrain lines. The anti-development types are unlikely to be satisfied with any proposal put forward but many Mount Pleasant residents are watching this one closely to see what the City will allow.
I welcome any questions you may have about selling or buying. Feel free to comment here or contact me directly.
First post of 2012 so it seems fitting to start with a list of ideas on how to increase housing options. This article appeared recently in the Vancouver Sun and the writer makes a number of useful, if perhaps optimistic, suggestions on how home ownership might be made more attainable in Metro Vancouver.
The simplest suggestion mentioned to implement would be encouraging and allowing higher density (innovative design and more compact units). This would increase opportunities for people to remain in urban areas without breaking the bank. The main hurdle here seems to be nearby neighbors who fear their property values will fall as a result of additional density being built close by.
Another idea presented relates to having municipalities reduce the charges and fees (development cost charges) they assess for granting building permits as this is a major cost. One would hope that savings here would trickle down to property buyers.
Finally, higher density developments should first be considered near good public transit and the requirements for minimum number of parking spaces per property should be abandoned in some instances.
So that’s the wish list. Do I think any of these are likely to happen any time soon? No, but dreams are healthy.
I welcome any questions you may have about selling or buying.
Feel free to comment here or contact me directly.