What You Should Know Before you start looking for a home, it’s important to understand the current real estate market in Vancouver. This gives you an idea of how much a home would cost and how much you would need to save up for. Based on current home prices in Vancouver as of October 2024, the average…
A group of Vancouver residents are speaking out against a proposed 18-storey high-rise development for W 14th Street and Yukon. “It doesn’t feel like the most appropriate thing for this area,” said Graeme Webber, a resident who lives in the neighbourhood. “It feels like a cash grab.” Signs in the neighbourhood posted on lawns read ‘Save 14th & Yukon’. The 100+ unit building was proposed as part of the city’s Broadway Plan to add more density along the new Broadway subway line. The neighbourhood currently boasts primarily detached homes or small apartment buildings approximately three-stories high. “Densification is important,” said Webber. “But it’s already a densely packed neighborhood.” Webber says he’s concerned that public services wouldn’t be able to handle an influx of residents. He tells CTV News that his son is currently on a waitlist to attend a nearby kindergarten. “As it is right now, we have to drive twenty minutes to get my kid to his elementary school,” said Webber. Eleanor Clark offered her support to the group, despite living several blocks away. She tells CTV News that another Broadway Plan development near Birch and 13th Street will eventually force her to move. “It’s happening everywhere,” said Clark. “I think they need to actually talk to people – talk to people that live in houses that are being destroyed, or four-story walk-ups that are being destroyed, and find out their stories and what it means to be displaced.” The Broadway Plan was approved in June 2022 and aims to transform a large section of Broadway into a second downtown. “I recognize change is difficult,” said Lisa Dominato, Vancouver City councilor. Dominato wouldn’t comment specifically on the development at 14th and Yukon, as the proposal still has to go before a public hearing, but she speak on the Broadway Plan’s vision. “We are trying to be responsive to what we’ve heard year after year after year is the issues of housing need, addressing the lack of the rental vacancy in the city, the inability to live here, to address affordability,” said Dominato. Dominato acknowledged that federal funding is needed to improve infrastructure, adding how City staff are currently reviewing the Broadway Plan and a new report is expected in the coming months. “We’re working collaboratively with the province, with the federal government to advocate for more infrastructure dollars to support the housing. They go hand in hand.” This comes as Council approved its first Broadway Plan high-rise on Thursday after a lengthy public hearing. The building is set for East 10th and St. George. For Webber, he hopes the city takes a close look at what makes sense for each neighbourhood. “We’d like it to be done more thoughtfully, more intentionally and not just trying to maximize density and put the smallest units in the tallest buildings possible,” said Webber.
Some changes are envisioned for the future Curv tower project in downtown Vancouver’s West End, which is billed to be the world’s tallest Passive House green building. In June 2020, Vancouver City Council approved the rezoning application to achieve the project at 1059-1075 Nelson Street, located at the northeast corner of the intersection of Thurlow and Nelson streets, replacing old low-rise apartment buildings. This was approved as a 586 ft tall, 60-storey, mixed-use residential tower, containing 102 units of social housing on the lower levels (25% of the building’s floor area), 50 units of secured purpose-built market rental homes within the middle levels, and 358 luxury strata market ownership condominium units within the upper levels. However, Montreal-based developer Brivia Group has now returned to the municipal government with a revised rezoning application to amend the building’s uses, reconfigure the interior floor plans, and make slight revisions to the exterior design. The overall form of the building will remain the same. Presumably due in part to the current poor market conditions for strata units as a result of the sustained high interest rates, coupled with growing construction costs and challenging construction financing, the developer is looking to convert the floor area originally intended for social housing into secured purpose-built market rental housing to improve the project’s financial viability and to enable construction to finally advance. 2024 revised concept for the Curv tower at 1059-1075 Nelson Street, Vancouver. (IBI Group/Brivia Group) There will no longer be an on-site social housing component; instead of providing 102 units of social housing, the total number of market rental housing units will grow from 50 to 174. Furthermore, the social housing obligation of the project — an in-kind community amenity contribution (CACs) — will now be achieved as a cash CACs payment to the City, which will enable off-site social housing. During the 2020 rezoning process, it was indicated that the provision of 102 units of social housing within the tower carried an in-kind CACs value of $70 million. The number of strata homes will remain the same at 358 units. As well, in conjunction with the pivot to more rental housing, the rezoning amendment seeks to eliminate the balconies on the building’s east and west frontages to help achieve the Passive House green building certification targets. With the enclosed balconies now adding to indoor living space, along with other changes, the building’s total floor area grows from about 427,00 sq ft to about 456,000 sq ft. The building’s total floor area ratio (FAR; a measure of comparing the size of the building’s floor area to the land area it sits on) will grow from 24.7 during the 2020 rezoning to 26.4 in the amendment. The project’s architectural firm is IBI Group. Brivia Group initially submitted its rezoning amendment application in June 2023 to seek these changes, and this will now be up for public consultation. It was reported in October 2023 that 100 of the condominium units (28% of the total number of condominium units) were pre-sold for an average of over $2 million each, after pre-sales were initially launched in May 2023. Artistic rendering of Curv. (Brivia Group) Artistic rendering of Curv. (Brivia Group) In recent years, the municipal government has revised its policies under the West End Plan to improve the financial viability of stalled housing projects. This includes the previous move of providing developers with an alternative path of building projects along the Thurlow Street corridor with market rental housing and including a below-market rental housing component, instead of the only established framework of strata condominiums with a social housing component and CACs. Over the past five years, this move has pushed stalled projects forward, catalyzing a significant number of secured purpose-built rental housing units. Then in September 2024, Vancouver City Council made further changes to the West End Plan by reducing the inclusionary social housing requirements from 25% of the residential floor area to 20% or one-for-one replacement of the existing rental housing, whichever is greater. Also, a new cash-in-lieu option has been introduced to reflect the costs for the municipal government to generate off-site social housing projects, including the cost of land and construction. Both of these changes will be introduced on an interim basis for at least years until December 31, 2026. When complete, Curv will tie with The Butterfly as the city’s third tallest building. The Butterfly, developed by Westbank, situated toward the eastern end of the same city block, reached completion this year. However, as both buildings are built on the highest elevation point of the downtown Vancouver peninsula, they will appear taller in the skyline from a distance than their actual structural height. For example, Curv will appear as a 724 ft tall tower, as its site is 139 ft above sea level. 2024 revised concept for the Curv tower at 1059-1075 Nelson Street, Vancouver. (IBI Group/Brivia Group) 2024 revised concept for the Curv tower at 1059-1075 Nelson Street, Vancouver. (IBI Group/Brivia Group)
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
Posted September 18, 2024 7:38 am. A new program aimed at supporting people and communities to make the switch to clean energy and save on their energy bills was announced by the B.C. government Tuesday. Minister of Energy, Mines, and Low Carbon Innovation Josie Osborne explained the ministry is launching the Clean BC Multi-Unit Residential Building Retrofit Program in partnership with BC Hydro. She says this program will provide rebates and energy coaching to business owners, strata councils, and equity co-op boards to undertake whole-building retrofits. “This includes everything from heat pumps to LED lighting, electrical upgrades, to better windows and ventilation,” she said. “Rebate amounts will depend on what retrofits and upgrades the building requires.” Osborne says one example could be that a building is switching from fossil fuel heating to electric heat pumps and may then receive $3,000 per heat pump installed. The minister says retrofitting buildings to make them cleaner is complex, and this program provides one-on-one advice and energy coaching to support building owners and managers in navigating the process. The ministry expects that a typical 65-unit building could save as much as $16,250 per year, or $250 per year per suite, after switching from central gas heating to in-suite heat pumps. “Making smart choices about how we use clean electricity has been core to our business for over 35 years,” said Chris O’Riley, president and CEO of BC Hydro. “Energy-efficiency programs defer the need for additional capital infrastructure, helping to keep rates affordable and offer additional flexibility to our electricity system. But equally important, programs like this one and the many others we offer provide our customers with the opportunity to save energy and money.”