Condos

This three-tower project could fulfill roughly 10% of the Government of British Columbia’s total target of catalyzing affordable homes for middle-income households through the new BC Builds program. In the process, it would also revitalize the easternmost end of Vancouver’s Downtown Eastside, bringing new life to an area specifically named the East Village. The significant project would be the first of a number of major housing redevelopments envisioned for this segment of East Hastings Street towards Commercial Drive. The three properties for this particular project are located on an approximate one-city block stretch of East Hastings Street between Glen Drive and Vernon Drive. Tower 1 will be a 373-ft-tall, 38-storey building at 1030-1070 East Hastings Street, which is a vacant site immediately adjacent to the CN railway at the southwest corner of the intersection of Glen Drive and East Hastings Street. This site is the westernmost site of the three properties. Tower 1 will contain 382 secured purpose-built market rental homes, with a unit size mix of 135 studio units, 141 one-bedroom units, 93 two-bedroom units, and 13 three-bedroom units. Nearly 5,000 sq ft of retail/restaurant space will activate the building’s East Hastings Street frontage, and three live/work units will front Glen Drive. Three sites for the East Village on East Hastings Street in Vancouver’s Downtown Eastside. (ZGF Architects/Westbank/Promerita/BC Housing) Three sites for the East Village on East Hastings Street in Vancouver’s Downtown Eastside. (ZGF Architects/Westbank/Promerita/BC Housing) Concept for the East Village on East Hastings Street in Vancouver’s Downtown Eastside. (ZGF Architects/Westbank/Promerita/BC Housing) Tower 2 will be just around the corner from Tower 1. It will be located at 1115-1127 East Hastings Street, which is the northeast corner of the intersection of Glen Drive and East Hastings Street. Old, low-storey commercial buildings currently occupy this site. Tower 2 is envisioned as the tallest and largest of the three towers, at 390 feet and 39 storeys. Tower 2 will contain 383 secured purpose-built market rental homes, with a unit size mix of 165 studio units, 123 one-bedroom units, 77 two-bedroom units, and 20 three-bedroom units. There will also be nearly 8,000 sq ft of retail/restaurant space, primarily at ground level, to activate the building’s frontages with East Hastings Street and Glen Drive. Tower 1; Concept for the East Village on East Hastings Street in Vancouver’s Downtown Eastside. (ZGF Architects/Westbank/Promerita/BC Housing) Tower 2; Concept for the East Village on East Hastings Street in Vancouver’s Downtown Eastside. (ZGF Architects/Westbank/Promerita/BC Housing) Tower 2 (left) and Tower 1 (right); Concept for the East Village on East Hastings Street in Vancouver’s Downtown Eastside. (ZGF Architects/Westbank/Promerita/BC Housing) While Tower 1 and Tower 2 are highly similar in uses and size, Tower 3 will be markedly different, with a shorter height of 195 ft and 19 storeys. Tower 3’s site of 1168-1180 East Hastings Street is the easternmost parcel of the three-site project, situated immediately east of Pink Peal Chinese Restaurant. Two low-storey structures currently occupy the site, including the 1905-built, three-storey Vernon Apartments SRO with 36 units. Tower 3 will contain 157 social housing units dedicated to seniors, with a unit size mix of 42 studio units, 79 one-bedroom units, and 36 larger one-for-one replacement SRO studio units. There will be higher levels of affordability with these homes rented at shelter, Housing Income Limits, and Low-and-Moderate Income Limit rates. There will also be a 2,300 sq ft social enterprise space fronting East Hastings Street. Tower 3; Concept for the East Village on East Hastings Street in Vancouver’s Downtown Eastside. (ZGF Architects/Westbank/Promerita/BC Housing) Tower 3; Concept for the East Village on East Hastings Street in Vancouver’s Downtown Eastside. (ZGF Architects/Westbank/Promerita/BC Housing) All three towers will feature a combined total of 924 homes, including 767 secured purpose-built market rental homes for middle-income households in Tower 1 and Tower 2 and 157 units of social housing for seniors, which is purposefully equivalent to over 20% of the project’s market rental homes as a public benefit. Overall, about 80% of the homes across all three buildings will be considered affordable for households with incomes below $80,000. These three towers in the East Village are a joint partnership between local developer Westbank, local investment firm Promerita, and the provincial government through BC Housing. Westbank and Promerita will own and operate Tower 1 and Tower 2, and they have already transferred ownership of the Tower 3 social housing site to BC Housing for a nominal fee. Westbank will be the lead developer responsible for the rezoning, development, and construction process of all three towers. ZGF Architects is the project’s design firm. Each tower represents a different rezoning application, but they will be considered together. All three applications have been submitted, and the review process is now set to enter formal public consultation. “BC Housing, through BC Builds, is very interested in participating in the proposed creation of new rental housing at the East Village with Promerita, Westbank, and a future non-profit operator, however, BC Housing’s final participation is further contingent on City Council rezoning approval as well as settlement of the final negotiated business terms amongst the parties,” reads a letter of support written to the City by Mike Pistrin, the vice president of development and asset strategies for BC Housing. “One of these milestones have been achieved and BC Housing has certainty regarding the inclusion of affordable rental units being approved, final project approval by our executive committee and associated boards will