Broadway Properties and Colliers International held a preliminary open house Tuesday for a redevelopment that could bring over 500 purpose-built rentals to Arbutus Street and West 32nd Ave.
The preliminary concept for the redevelopment involves replacement of an existing, low-rise apartment complex at 4683 Arbutus Street. The complex, adjacent to Prince of Wales Secondary and Park was built in 1964 and is currently only 50 per cent occupied. The other half of the apartments are considered uninhabitable. Current tenants will be assisted with relocation.
The concept includes 502 new purpose-built rental homes under the City’s Moderate-Income Rental Housing Pilot Program (MIRHPP). Under this program, at least 20 per cent of the units will be made available at MIRHPP rates, targeted at people earning between $30,000 to $80,000 annually. A new daycare facility is also part of the redevelopment, as well as small-scale neighbourhood retail.
Open house boards: 4683 Arbutus Street
The site is in a unique transitional zone between the high density Arbutus Village redevelopment to the north and single family homes to the south.
The development will be a minimum of 14-storeys, with the option of a 17-storey tower or a seven-storey podium being floated as a way to increase the number of purpose-built rental homes.
The unit mix is proposed as follows:
- studio 25%
- one bedroom 40%
- two bedroom 25%
- three bedroom 10%
- Parking Stalls: +/-225
The project is in its early planning stages and a formal rezoning application has not yet been submitted to the City of Vancouver. Architecture is by DIALOG.