2-tower Oakridge development site

Overview

High-density development site in the Oakridge area, offering potential for a two-tower project of significant scale. The site is comprised of 5 contiguous lots (each 61′ × 138.5′ ) at the northwest corner of West 39th Avenue and Manson Street, totaling 305 feet of frontage and 42,242.5 SF of developable land.

The assembled parcel is designated Apartment (up to 18-storeys) within the Cambie Corridor plan. Developers have the option for either 100% secured rental with 20% below market, or market strata with 30% of residential floor area provided as social housing. The scale of the site allows potential for a two-tower project, with similar proposals in the immediate area indicating densities ranging from 5.6 to 6.3 FSR.

Community Plan Highlights

Rezoning guidelines are outlined in Section 4.3.6.1 of the Cambie Corridor Plan – High-Density Residential Areas (North of 41st Avenue). A summary of key considerations are provided as follows:

• Maximum 15-18 storeys (depending on typology) permitted on sites with a minimum 150 FT frontage and either: 100% of the residential floor area is secured rental with a minimum of 20% provided as below-market rental; or, a minimum of 30% of the residential floor area is provided as social housing
• Density varies with building performance
• Minimum 90 ft tower separation
• Maximum 2 towers per block
• Tower floor plates should not exceed an average of 6,500 SF

Location

The property is centrally positioned within the vibrant and rapidly densifying Cambie Corridor neighborhood on Vancouver’s west side. The site falls within the Oakridge Municipal Town Centre, described by the City of Vancouver as one of 17 regionally-significant town centres across Metro Vancouver. This established area is rich in amenities and boasts numerous parks and schools in close proximity.

The property’s strategic location places it within 2 blocks of the massive Oakridge Park project (Oakridge Centre redevelopment) and approximately 450 m from the Oakridge-41st Avenue Station on the Millennium SkyTrain line. Upon completion, Oakridge Park will feature 10 residential high-rise towers, an 850,000 SF regional shopping centre, 700,000 SF of office space, a 100,000 SF civic centre, and a 9 acre publicly accessible park.

This highly sought-after neighborhood is easily accessible by public transportation, and arterial routes including Cambie Street and West 41st Avenue.