Broadway Plan redevelopment site

Overview

Extraordinary opportunity to acquire a centrally located Broadway Plan redevelopment site at the corner of Heather Street and West 12^th Avenue in Vancouver’s Fairview. The 12,500 SF (125’ x 100’) RM-4 zoned property is currently improved with a 20-suite apartment building, and has successfully gone through the Letter of Enquiry (LOE) process, with support from City of Vancouver staff for a proposed high-rise secured rental project at 6.50 FSR.

The property is within the Uptown South – Area A (FUSA) of the Broadway Plan. FUSA allows rezoning for secured rental projects up to 20-storeys and 6.5 FSR, with 20% of residential floor space secured at below-market rents.

The LOE response identifies the subject site as a candidate for relaxation of the minimum site frontage requirement. As a corner site in a high-profile location immediately opposite Vancouver General Hospital, staff have also put forward an option to increase density by up to 0.3 FSR for ground level retail/service uses.

Broadway Plan

Additional Policies

• There will be a maximum of two towers per block (street to street, including any laneways). However, for the block east of Ash Street, one additional tower will be considered in Uptown South Area A.
• Minor increases in height and density will be considered for delivery of ground-level local-serving retail/service uses or childcare.
• For 6-storey apartment buildings, minor increases in density may be considered where 100% of the residential floor area is social housing, generally following the provisions for social housing in the RR-2C district schedule and associated requirements.

Location

The property is located in a walker’s paradise between Oak Street and Cambie Village, in Vancouver’s prized Fairview neighbourhood. This central location affords convenient access to major employment nodes along the Broadway Corridor and is immediately opposite Vancouver General Hospital (VGH), one of the largest employers in the province.

West 12th Avenue forms one of the major east-west traffic arteries across the city, while Cambie & Oak Street are major north-south arterials to and from the downtown core and Richmond / YVR. The property is well positioned on the highly trafficked bus route to the University of British Columbia (UBC), and is less than a 10-minute walk of both the existing Broadway-City Hall Canada Line station, and the future Oak-VGH Broadway subway station.

West Broadway offers extensive amenities in the immediate area, including restaurants and commercial services. Nearby, South Granville’s retail corridor is one of Vancouver’s trendiest shopping destinations and offers tenants easy access to numerous amenities, art galleries, coffee shops, restaurants, banks and theatre, to name a few.