Cressey Unveils Plans for Rental Building at 2nd & Main

Cressey has filed a rezoning application for a site at the corner of Main and East 2nd Avenue in East Vancouver.  The 18,683 SF triangular site at 1800-1880 Main Street is currently zoned IC-2, but the Mount Pleasant Community Plan allows for residential rezoning. 

The plan is for a redevelopment of the site to allow an 11-storey mixed-use building that includes:

      • 131 rental units;
      • 34 studios, 51 one-bedrooms, 36 two-bedrooms and 10 three-bedrooms
      • Two commercial units at grade;
      • A total density of 5.02 FSR;
      • A height of 113.4 ft.; and
      • 88 parking spaces (including 6 car share spaces).

1880 Main_11880 Main_21880 Main_3The architect for the project is Francl Architecture.

Cressey acquired the site in 2016 for $17,000,000, or $181 per buildable SF based on the rezoned density.

Plans Unveiled for 104-Unit Rental Building in Southeast False Creek

Cressey Development Group has filed an application to rezone a 12,169 SF site that they own at the corner of West 1st Avenue and Cook Street, just West of Olympic Village. The site sits directly East of their previously completed project “The James”.

The plan calls to rezone from the M-2 industrial zone to CD to permit the development of a 10-storey rental residential building, including:

  • 104 rental apartment units
  • 51 studio units, 27 one-bedrooms, 20 two-bedrooms and 6 three-bedrooms
  • a total density of 5.03 FSR
  • a building height of 99 feet
  • 50 underground parking spaces

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The application is being considered under the Southeast False Creek Official Development Plan and Secured Market Rental Housing (Rental 100) Policy.

Cressey acquired the site in December 2015 for $16,000,000, or $261 per buildable SF based on the expected rezoning.

The architect for the project is Chris Dikeakos Architects.

Cressey Planning 74-Unit Project on Cambie

Cressey has applied to the City of Vancouver to rezone a 4-lot assembly sold by our team in 2015 for $20.4 Million.

The plan for the 36,637 SF site at the Northwest corner of Cambie and West 31st Avenue is for two 6-storey residential buildings that include:

  • 74 residential units;
  • 26 one-bedrooms, 27 two-bedrooms and 21 three-bedrooms
  • maximum building heights 69 ft. and 71 ft. from grade;
  • a total density 2.36 FSR; and
  • 157 vehicle parking spaces and 101 bicycle spaces.

The application is being considered under the Cambie Corridor Plan.

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Market Spotlight: City of Vancouver Rezoning Applications

Here is a brief overview of rezoning applications going to City of Vancouver Council next week seeking approval to move forward to the final public hearing stage. While these proposals have been posted on this site before, their potential advancement to public hearing signals an intent by each proponent to move forward with their respective projects.

101 East 2nd Avenue

101 East 2ndThis application is for the new MEC location at 2nd and Quebec. MEC will be relocating from their existing West Broadway location when their lease expires.

The plan is for a 3-storey building totaling 45,262 SF of retail space and 16,350 SF of office and fitness space. The total density is 2.04 FSR. A CAC of $11.50 per SF is being charged.

288-388 West King Edward Ave

288 W King Ed_2This proposal, by Mosaic Homes, is for a 4-storey, 56-unit condo building at the Southeast corner King Edward and Yukon. The site is a 5-lot assembly being rezoned under the Cambie Corridor Plan.

The proposed density is 1.76 FSR, and the CAC is based on the fixed rate of $55 per SF of net increased density.

4085 Ash & 619-633 West King Edward

619 West King EdAlso in the same area as the project above, Aragon is planning a development on a 3-lot assembly at the Northwest corner of King Edward and Ash Street.

The plan for the 19,150 SF site is a 4-storey condo building with a total of 31 units. The total proposed density is 1.93 FSR and the CAC is $55 per SF.

3365 Commercial Dr

Cressey‘s plan for a rental apartment building on a site at Commercial Drive and East 18th Ave includes relocation and restoration of a heritage house. The new 6-storey building on the site will have 101 much needed rental apartments. The total density for the project is 2.70 FSR. 37% of the units will be family-oriented. There is no CAC.

420 Hawks Avenue

420 Hawks_3Atira Women’s Resource Society originally made this proposal back in November 2014 and it has been the subject of some media attention recently amid some objection by the Strathcona Residents’ Association.

The plan has been revised since the original proposal, with 21 social housing units being proposed in a 7-storey building. A unique aspect of the building is that it will be constructed out of shipping containers. There is no CAC for this project.

753 Seymour Street

753 Seymour_3GWL’s plan to redevelop the parkade it owns next to 650 West Georgia (Vancouver Centre) became public with an application back in the summer of 2013.

The plan is for a 33-storey office tower, totaling 398,942 SF of new office space above the existing 6-storey parkade structure. The parkade could also be converted into an additional 65,000 SF of office space in the future. The total density of the project is 22.96 FSR. A CAC equivalent to $5 per SF is being paid as a contribution towards childcare facilities downtown.

Cressey Acquires Main & 2nd Avenue Site in $17MM Deal

Cressey Development Group has acquired a 14,922 SF site at 1880 Main Street, at the Southeast corner of Main and 2nd, for $17,000,000. The triangular block, currently improved with lowrise retail buildings, is zoned IC-2. No development applications have yet been filed with the City of Vancouver.

1880 Main

Cressey Planning Next Kerrisdale Project

Cressey Development and IBI Group Architects have applied to develop a full block site at West Boulevard and West 47th Avenue in Kerrisdale, just across the street from their nearly sold-out 37-unit Sterling project, which is undergoing excavation to the South on West 48th.

The plan for this 31,238 SF site is to develop a 4-storey mixed use building that includes the following:

  • Total floor area of 77,825 SF
  • 16,271 SF for commercial on the first floor and 61,554 SF for residential;
  • Building height of approximately 45 ft;
  • 4 townhouse Units and 36 apartment condo units;
  • 125 underground parking spaces accessed from the rear lane.

Under the site’s existing C-2 zoning, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning. The full application details can be viewed here: http://development.vancouver.ca/6333wblvd/index.htm.

6333 West Blvd 6333 West Blvd_1Cressey acquired the site in April 2015 for $26,300,000, or $338 per buildable SF.

Cressey Unveils Plans for Kerrisdale Site

A development application has been submitted for a full city block at West Boulevard and West 48th Avenue that was bought by Cressey last year for $17,100,000. The plan for the over 34,000 SF, C-2 zoned site includes:

  • 37 condo units (averaging 1,600 SF each)
  • 26,100 SF of retail space
  • A total density of 2.50 FSR (85,300 SF)
  • 179 underground parking stalls on two levels

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