The downtown Vancouver peninsula’s entry route through the Burrard Street Bridge could see a new mixed-use tower that provides a visual gateway into the city centre.
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Coromandel Properties has plans to demolish and redevelop the seven-storey south building of the Anchor Point complex at 1380 Burrard Street — the northeast corner of the prominent intersection of Burrard Street and Pacific Street. This building sits on a 29,621-sq-ft lot.
There are very few specifics available at this time, but early project details on Arno Matis Architecture’s website indicate a 450-ft-tall tower with hotel and residential uses.
A highly preliminary artistic rendering of the redevelopment shows two building forms for the site, with a mid-rise building — likely the hotel portion — occupying most of the site footprint and the tower at the intersection’s corner.
The project is still in its early pre-application stages; no formal application has been submitted to the municipal government at this time.
The development site is immediately adjacent to the under-construction The Pacific, a 375-ft-tall, 39-storey residential building by The Grosvenor at 889 Pacific Street.
This proposal is also about 100 ft shorter than Jim Pattison Group and Reliance Properties’ One Burrard Place Tower, located upslope one block away at 1290 Burrard Street. It is set for completion in 2020.
The north ends of the other False Creek bridges are also flanked by towers with a higher standard of architecture to provide gateways into downtown. Granville Bridge is anchored by Westbank’s 493-ft-tall Vancouver House and, possibly, a 563-ft-tall tower at 601 Beach Crescent by Pinnacle International Development.
Further east, Concord Pacific’s newly built ARC Vancouver tower also provides the north end of the Cambie Bridge with a visual landmark.
The south building of Anchor Point was constructed in 1982 and has over 107,000 sq. ft. of commercial area, with retail on the lower floor and office space on the upper floors. One of its anchor office tenants is lululemon, which uses the building as a satellite workspace within close proximity to its Kitsilano headquarters.
According to BC Assessment, the property’s latest assessed value is $81.846 million, with $80.865 million coming from the value of the land and just $981,000 from the value of the existing structure.
On the southern end of Burrard Bridge, there are longer-term plans to redevelop significant sites next to the bridge, including Squamish First Nation’s proposal to redevelop its 12-acre reserve into a high-density redevelopment with 3,000 homes, and Concord Pacific’s vision to turn the old Molson Coors brewery into an office and residential redevelopment.
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