Hotel and condo development next to Oakridge SkyTrain moves forward

A 2023 artistic rendering of the revised design of 488 West 43rd Avenue (5910-5998 Cambie Street), Vancouver. (IBI Group Arcadis/Peterson Group)

Two-and-a-half years after receiving Vancouver City Council’s rezoning approval, the city block-sized redevelopment in Oakridge Municipal Town Centre with a sizeable hotel is now going ahead.

Local developer Peterson Group has submitted a new development permit application to redevelop 488 West 43rd Avenue (formerly 5910-5998 Cambie Street), which is located at the southeast corner of the intersection of Cambie Street and West 43rd Avenue – just east of SkyTrain Oakridge-41st Avenue Station and the Oakridge Park (Oakridge Centre mall) redevelopment.

On a land assembly of five single-family lots, this project will produce a 278 ft tall, 29-storey condominium tower and an attached 15-storey hotel tower, with both towers connected by a six-storey base podium with hotel, retail, and restaurant uses.

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The residential tower will contain 176 strata condominium units with a unit size mix of 59 one-bedroom units, 99 two-bedroom units, and 18 three-bedroom units, plus 10 live-work units.

The hotel tower component spanning 174,000 sq ft will have 233 hotel suites, including 121 one-bedroom units, 12 two-bedroom units, and four executive units.

This represents a change from the previous mix of 168 strata condominium units, 10 live-work units, and 270 hotel suites during rezoning.

488 West 43rd Avenue Vancouver Oakridge hotel

Site of 488 West 43rd Avenue (5910-5998 Cambie Street), Vancouver. (Google Maps)

Existing condition:

Site of 488 West 43rd Avenue (5910-5998 Cambie Street), Vancouver. (Google Maps)

2021 approved rezoning design:

A 2021 artistic rendering of 488 West 43rd Avenue (5910-5998 Cambie Street), Vancouver. (Perkins&Will Architects)

2023 development permit application design:

A 2023 artistic rendering of the revised design of 488 West 43rd Avenue (5910-5998 Cambie Street), Vancouver. (IBI Group Arcadis/Peterson Group)

Since rezoning approval in March 2021, the project has gone through tumultuous ownership changes, with Wall Financial Corporation selling the property and approved rezoning plans in March 2022 to a joint partnership between Peterson Group and Coromandel Properties.

Then earlier in 2023, after Coromandel Properties began insolvency proceedings, Peterson Group decided it would go solo on a number of projects it was previously partnered with Coromandel Properties on, including this Oakridge hotel and condominium project.

The new artistic renderings produced for the development permit application show the architectural design has been slightly revised with more streamlined details. Moreover, the lead design firm is now IBI Group (Arcadis), whereas the original project architect was Perkins&Will.

488 West 43rd Avenue Vancouver Oakridge hotel 10

A 2023 artistic rendering of the revised design of 488 West 43rd Avenue (5910-5998 Cambie Street), Vancouver. (IBI Group Arcadis/Peterson Group)

The total building floor area will reach about 330,000 sq ft, establishing a floor area ratio density that is 10.4 times larger than the size of the 31,700 sq ft land assembly. Underground levels will provide 310 vehicle parking stalls, including 106 stalls for hotel uses and 33 stalls for restaurant uses.

Beyond the Oakridge Park construction site, the immediate area is currently experiencing immense construction change spurred by the Cambie Corridor Plan, including mixed-use tower projects that immediately surround the prominent intersection of Cambie Street and West 41st Avenue.

Peterson Group was also involved in a number of other major hotel properties, including Fairmont Pacific Rim Hotel, Shangri-La Vancouver, Carmana Hotel & Suites Vancouver, and Shangri-La Toronto Hotel.

A 2023 artistic rendering of the revised design of 488 West 43rd Avenue (5910-5998 Cambie Street), Vancouver. (IBI Group Arcadis/Peterson Group)

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