The prominent southeast corner of the intersection of Lansdowne Road and No. 3 Road could be redeveloped into one of Richmond’s largest 100% rental housing projects in years.
A rezoning application by Headwater Living Inc. outlines a proposal to redevelop 5500 No. 3 Road – immediately south of SkyTrain’s Lansdowne Station and Lansdowne Centre shopping mall — into a 154-ft-tall, 15-storey, mixed-use building.
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The site is currently occupied by a building that was the longtime location of Cactus Club Cafe, until the restaurant’s 2017 relocation to CF Richmond Centre.
According to the application designed by Musson Cattell Mackey Partnership, there will be 149 market rental homes, with a unit mix of 13 studio units, 73 one-bedroom units, and 63 two-bedroom units.
While these are market rental residential units, there will be an affordability component for middle-class families through BC Housing’s HousingHub Provincial Rental Supply Program. The proposed rents will be restricted to no higher than the market rent, and household income will be restricted to no higher than the 75th percentile for BC households without and with children.
Households with a total maximum income of $116,300 or less can access monthly studio rents of between $1,350 and $1,600, while one-bedroom units will start at $1,600 to $1,900.
For a two-bedroom unit, with a household income ceiling of $163,220, monthly rents will begin at $2,200 to $2,400.
Residential uses will be located within the upper 11 levels, and there will be a 5,700-sq-ft restaurant space component on the ground level. Tenants will have access to about 1,600 sq. ft. of indoor amenity space, and a significant outdoor amenity space on the rooftop of the building’s eight-storey podium.
The first four levels are for parking, containing 143 vehicle parking stalls and 265 bike parking spaces. Following city guidelines, all resident vehicle stalls will have charging outlets for electric-battery vehicles, and 10% of the shared visitor and commercial stalls will also have outlets.
To encourage greener modes of transport, for the first year, the landlord will provide 40% of the units — a total of 60 units — with a monthly two-zone transit pass.
“The development has successfully demonstrated a strong urban concept contributing towards a high density, high-amenity, pedestrian-oriented environment in the Lansdowne Village, comprised of street-oriented commercial uses and market rental apartment housing,” reads a city staff report.
The proposed total floor area is about 108,000 sq. ft., creating a floor space ratio density of 3.77 times the size of the 31,400-sq-ft lot.