two-rental-housing-towers-eyed-for-kingsway-near-fraser-street-in-vancouver
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Two rental housing towers eyed for Kingsway near Fraser Street in Vancouver

ByKenneth Chan

Nearly four years ago, a rezoning application was approved to redevelop the southeast corner of the intersection of Kingsway and Carolina Street — situated on the southernmost border of the Mount Pleasant neighbourhood of Vancouver — into a six-storey, mixed-use building with 80 secured purpose-built market rental homes. But the project — which was one of the larger rental housing proposals in Metro Vancouver at the time, prior to the current wave of proposals — did not proceed as planned. As it turns out, this is because the project was being redesigned for a much larger mixed-use rental housing concept under the prescriptions and stipulations of the City’s Broadway Plan. A new rezoning application has been submitted to redevelop 602-644 Kingsway and 603-617 East 16th Ave., which entails a larger development site than the original concept — growing the available footprint by 50 per cent to over 30,000 sq. ft. The project is just west of the prominent intersection of Kingsway and Fraser Street. The original north site entails old low-rise commercial buildings, including a former funeral home building, while the addition of a south site includes a surface vehicle parking lot and low-rise residential and commercial buildings. Site of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) Site of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Google Maps) Site of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) Cancelled 2020/2021 concept: Current condition (top) and 2020/2021 cancelled concept (bottom) of 602-644 Kingsway, Vancouver. (Studio One Architecture) 2025 revised concept: 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) Under the new application, local developer Bonnis Properties has partnered with architectural firm Perkins&Will to pursue a 167-ft-tall, 14-storey north tower and a 276-ft-tall, 25-storey south tower. The proponents are pursuing a new concept with two high-rise towers, after determining that a project with three towers would not meet the minimum tower separation requirements from an adjacent lot on Kingsway. There will be a total of 327 secured purpose-built rental homes, including 120 units in the north tower and 207 units in the south tower. Based on the Broadway Plan’s requirement of setting aside at least 20 per cent of the residential rental floor area for below-market units, there will be 66 below-market rental homes and 261 market rental homes. The unit size mix is established as 152 studios, 47 one-bedroom units, 105 two-bedroom units, and 23 three-bedroom units. 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) The north and south towers will be physically connected on the second level by a pedestrian bridge over the laneway that separates the two sites, enabling continuous shared amenity spaces between both buildings. Expansive indoor and outdoor amenity spaces will be found on the second level — including landscaped outdoor areas on the base podium rooftops — along with outdoor amenity spaces on the rooftops of both towers. The rooftop of the north tower’s podium also features a 2,900 sq. ft. childcare facility for up to 20 kids, plus outdoor play space. Down below, about 19,400 sq. ft. of retail/restaurant space spread across the ground levels of both buildings will activate the street frontages and a new public plaza. This triangular-shaped plaza space — a public space element passed down from the original concept — will be achieved by repurposing a 70-ft-long segment of East 15th Avenue and median that parallels Kingsway. 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) 2025 concept of 602-644 Kingsway and 603-617 East 16th Ave., Vancouver. (Perkins&Will/Bonnis Properties) The floor plates of both towers rising above the podium are curved to strategically place the structural columns along the perimeter of the floor plates, which serves to optimize the views from the residential units and enable a more efficient unit layout. The exterior design is defined by a 40-60 window-to-wall ratio, with protruding balconies protected by steel picket guard railings. Four underground levels at the north tower site will accommodate 141 vehicle parking stalls, while two underground levels at the south tower site will provide over 600 secured bike parking spaces. Altogether, the project will generate a total floor building floor area of over 257,000 sq. ft., establishing a floor area ratio density of a floor area that is 8.5 times larger than the size of the lot. The site is well served by frequent bus routes along Kingsway, Fraser Street, and Main Street, and about a 15-minute walk from SkyTrain’s future Mount Pleasant Station (intersection of Main Street and East Broadway). Under the Broadway Plan, high-rise tower developments are generally

Find the right home
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Find the right home

ByStan S.

Understand your housing options, choose your priorities and select your homebuying professionals. Think long term when buying a home. What kind of home do you need now? What will you need in 5 to 10 years? Consider: COMMON TYPES OF HOMEOWNERSHIP Options vary slightly between provinces, but you can choose between the following ownership types in Canada:…

Are you financially ready to own a home
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Are you financially ready to own a home

ByStan S.

How to calculate how much you’re spending now, what you can afford and your future expenses. Are you financially ready to own a home? Look into these 5 calculations and questions before you meet with your broker or lender. QUALIFYING FOR A MORTGAGE There are 2 affordability rules that determine how much you can spend on housing without…

Age in place safely and independently
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Age in place safely and independently

ByStan S.

Use these tips and resources to ensure you get the most out of life – and home – as you age in place. Housing options for seniors Canada has a variety of housing options to fit different needs and budgets. Canada has many housing options available for seniors that suit a wide range of budgets,…

The Process for Estate Sales in BC
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The Process for Estate Sales in BC

ByStan S.

Estate sales in British Columbia generally involve the sale of a deceased person’s property, usually handled by the estate executor named in the will or appointed by the court if no will exists. The process can vary depending on whether the deceased left a will and the type of assets involved, but generally follows several…

Foreclosures in BC – Everything You Need to Know
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Foreclosures in BC – Everything You Need to Know

ByStan S.

Some of my clients have been asking me if I have been seeing more foreclosures in our market place. Some have also been curious as to what I think about foreclosures as a vehicle to potentially buy property for less than market value. To better engage in this conversation I feel that it is important…

sign-of-the-times:-surprising-new-indicator-of-bc.s-sluggish-real-estate-market
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Surprising new indicator of B.C.s sluggish real estate market

ByAmy Judd

Call it a sign of the times? “There are so many listings right now in the Metro Vancouver area that there’s not enough signposts,” Kaitlyn Herbst, realtor with MRKT Real Estate Group said. “The company is actually offering, if we take down the signpost, if it’s already sold property and give them their signpost back so that they can use it for a new client, they will give us money back on our next signpost.” Herbst said in April there were more than 15,000 listings in the Greater Vancouver area. “That’s a lot of signs,” she said. “I mean, condos don’t always have signs and stuff, but buyers, they’re just not showing up. They’re a little bit uncertain with everything that’s going on and kind of taking a little more time to look.” Story continues below advertisement 2:07 Metro Vancouver condos sitting empty amid housing crisis Real estate experts say it has been an interesting start to the year in Greater Vancouver. “What we expected to happen was the market to be a little more active than what we’ve seen so far,” Andrew Lis, director of economics and data analytics at Greater Vancouver Realtors, told Global News. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. “Our forecast called for some growth in sales for the year, but sales have come in pretty slow since the beginning of the year.” Lis said it could partially be due to the uncertainty brought about by U.S. President Donald Trump’s tariffs, the political uncertainty around the Canadian election and the federal government’s overall housing strategy plan. “So it could be a number of factors keeping buyers on the sidelines, but things have been sort of quiet on the buy side,” Lis said. Story continues below advertisement “On the sell side, we have a lot of people coming to market with their property. So we’re actually at a point right now where we have some of the highest levels of inventory we’ve seen in almost over a decade. So a really interesting time right now for the market.” Lis said that sales are down about 24 per cent year-over-year. “They’re hanging below our 10-year seasonal averages, you know, around 20, 30 per cent. They’ve kind of been around those levels for some time.” Lis said that the market started to pick up late last year but has been slower in the first part of 2025. “On the inventory side, however, what we’ve seen is a pretty significant increase in inventory levels in our region,” he added. “Our inventory level in the Greater Vancouver region that we track at our board has surpassed the 16,000 mark, which we have not seen in over about a decade.” Trending Now 4:55 New cabinet role puts former Vancouver mayor back in the spotlight Lis said that for buyers, it’s a good thing as there is finally some choice across the board — condos, detached houses and townhouses. Story continues below advertisement However, they have seen more sales of detached homes than attached or apartments. “Generally, price trends have been fairly flat over the past few months and even actually over the last couple of years,” Lis said. “There’s some very small minor ups and downs — a per cent here, up, down a per cent there — but generally the price trend has been flat and that’s been pretty much true across all product types.” Herbst said she has never seen a market like this. “When a couple years ago there was no subjects, you were buying places, sight unseen,” she said. “I had clients buy homes I had never actually seen. Subject free, all that. Now we’ve got, ‘Okay, we’ll come back and see you a second time’.” Herbst said there are even sellers adding incentives to lure in prospective buyers. “There is one home (in Langley) that is for sale that the realtor is offering a Disney Cruise to the buyers of this family home. A four-person Disney cruise,” she said. “It’s not cheap, but it’s a way to make it stand out. It’s a way to get those families through the door. And there’s a lot of options for those buyers. So it’s comparing apples to apples, but this one I get to go on a trip with my family.” &copy 2025 Global News, a division of Corus Entertainment Inc.