The City of Vancouver has released its concept for the future of False Creek South — the neighbourhood of primarily leasehold buildings stretching from the Cambie Bridge west to Granville Island.
With leases on City land expiring in the next 15-25 years, Council has the opportunity to consider a 21st century renewal of the original vision for False Creek South established in the 1970s … including 80 acres of land under the stewardship of the City, prime waterfront land that could be leveraged via renewal over next several decades to substantially advance Council’s policy objectives, while at the same time respecting the existing community and tenants on City land.City of Vancouver presentation
The city manages a total of 730 leases in False Creek South, in buildings mostly built in the 1970s and 1980s. In total, there are 1,800 residential units on city land home to approximately 4,000 people, and 1,300 units on third party-owned land in the neighbourhood.
Four different development proposals were evaluated, with the city recommending what they are calling the “new sites and open spaces” option, which will add 3,770 new units in phase one, while excluding the redevelopment of all existing strata leasehold sites in False Creek South. However, as those leaseholds expire, those sites will be redeveloped as well. Once both phases are complete, there will be 6,645 residential units in the neighbourhood, compared to 1,849 today.
Taller buildings will be located close to the Cambie and Granville Street bridges, with lower building heights around Charleson Park in the centre of the neighbourhood. The mix of housing will be roughly split three ways between strata, non-market housing and co-op housing, and market rental.
The city plans to address the expiration of current strata leaseholds and co-op leases later this year. The report goes before council on October 21, 2021 and can be viewed here.
DIALOG is working with the city on the plan.