Jim Pattison Developments Ltd.and Reliance Properties Ltd. said they have submitted a rezoning application to the City of Vancouver for the proposed $500 million mixed-use development.
Located on Burrard and Hornby streets, north of Drake Street, the rezoning would cover 14 city lots owned by Reliance Properties and nine owned by Jim Pattison Developments. The project would require the landowners to consolidate their holdings for development.
"This proposed development is designed to create a dramatic entrance to Vancouver's downtown area as people crest the Burrard Bridge heading north on Burrard Street," said Reliance Properties president Jon Stovell.
As currently proposed, the development consists of three towers of 13-, 36- and 48-storeys and a seven-storey podium with a total space of more than 750,000 square feet. The project would include market condominiums and rental housing, office and retail space and a flagship Toyota dealership for North America.
The Burrard Gateway site is one of six locations the city has proposed as having the potential for a building with a height increase above current policy and regulation.
The rezoning process will involve public open-house meetings, a public hearing at Vancouver city council and review by the city's tall-building design panel.
Reliance Properties is a privately-owned Vancouver company active in acquisition, development, leasing and management of a wide variety of commercial and residential real estate for more than 50 years. The Jim Pattison Development Ltd., through its Real Estate Group, is involved in development and construction as well as property management. It has commercial and residential property projects across Metro Vancouver.
from Western Investor, December 2010
