Vancouver is already know for its dense downtown core and high skyline. At the moment we are watching two new buildings rise in Yaletown.
The first, Richards Living, an Aquilini development at 1066 Richards. The second, The Mark, an Onni Development at 555 Pacific Street. With the construction of both of these towers underway it would lead you to believe developers are regaining confidence in our real estate market and buyers and sellers in Vancouver should as well.
A recent story by CBC News stated that there could be more development on the horizon in Vancouver from two different companies: Jim Pattison Developments and Reliance Properties. These guys are proposing 48-and-36 story towers and a 13-story office building. If City Hall approves these applications this will yet again transform the Vancouver city skyline.
Please see the complete article from CBC news below.
Two big Vancouver companies are proposing to build three new downtown towers near the Burrard Bridge that could impair the view of the North Shore Mountains from Queen Elizabeth Park.
Jim Pattison Developments and Reliance Properties have put 23 city lots together between Burrard and Hornby streets to build the 48- and 36-storey residential towers and a 13-storey office building.
The 750,000 square-foot project would create 600 residential units and some retail space near the Burrard Street Bridge, a daycare, recreation facilities and a showroom for Pattison's Toyota dealership.
The $500-million proposal has yet to be approved by city hall, but the developers say they have submitted a rezoning application and expect to get approval as long as other considerations are met. Some of the density in the design was transferred from the Burns Block heritage project at 18 West Hastings Street.
The Burrard site is one of six downtown locations the City of Vancouver has already identified as possible sites for buildings that exceed current height restrictions, as long as they combine a higher standard of green building design and architectural excellence.
The president of Reliance Properties Jon Stovel says the skyline of downtown Vancouver is destined to rise upward.
"I do believe that we will see a lot more taller buildings," said Stovel.
"It's a very desirable place to live and the city will continue to mature in terms of its ranking on global skylines. It will be done well. But it will continue," he said.
The developers say they expect to hold public hearings on the plans in the fall, and if approved, it could be a year and a half before a shovel goes into the ground.
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