A spectacular proposal for a 46-storey glass condo tower on a triangular lot in the Coal Harbour neighbourhood of downtown Vancouver has emerged.
Brilliant Circle Group Investments Ltd (BCG) and James KM Cheng Architects are proposing the “family-oriented” tower – read: large, luxury units – on West Georgia Street, where Pender and Georgia merge at Nicola Street.
The tower concept is to create a “slender, tapered form” at the western gateway to downtown Vancouver. The residential floors are elevated over a dramatic glass-framed lobby with the amenity floors suspended above. Amenities will include a private dining area, lounge, children’s play area and fitness centre.
The building will be clad in a combination of silver and dark-tinted glass, as well as custom-coloured metal cladding and stone. There will be a “porte-cochère” arrival and drop-off area on Pender Street, and seven levels of underground parking and car wash station.
The unit breakdown is as follows:
- 128 units
- 2 bedroom: 76
- 3 bedroom: 41
- 4 bedroom: 9
- 5 bedroom: 2
In the rezoning documents, the developer proposes a new piece of public art in Flag Plaza, the triangular public green space west of the site.
Neighbouring project Cardero by Bosa Properties, achieved the highest price per square foot in Vancouver history when it was presold in the summer of 2016, despite the introduction of the foreign-buyer tax. Foreign-buyer tax is not due until the unit is complete, usually two to three years from the time of purchase.
Bosa Properties is also proposing a Jenga-style residential tower at 1500 West Georgia Street, adjacent to the Crown Life Plaza fountain, a fixture on West Georgia Street for more than 40 years.
The Globe and Mail reported in 2016 that many developers have seen the proportion of foreign buyers increase since the introduction of the tax, with many buyers betting on a rise in value by completion date, as well as their immigration status changing to permanent residency or citizenship.
The developer of this site, Brilliant Circle Group Investments Ltd (BCG), is relatively new to the Vancouver property scene, but is already flexing its deep pockets. The company recently acquired 230 acres of Imperial Oil land in Port Moody and Anmore, and plans to develop a mixed-use village.
The Vancouver Sun reports Brilliant Circle Group Investments Ltd (BCG) is owned by David Cai, a Canadian citizen, who has a home in Vancouver as well as roots in Hong Kong.
The Vancouver Sun also reports that David Xiao Ming Cai is also the name of the CEO and an executive director of Brilliant Circle Holdings International Ltd. The Hong Kong-based public company is registered in the Cayman Islands and is involved in cigarette package printing, printing services and manufacturing laminated paper.
Feedback on the Flat Iron proposal can be left on the City of Vancouver’s website here.