A planned condominium project on Vancouver’s Cambie Corridor is proposing a pivot into a secured market rental housing redevelopment.
The rezoning application for 618 West 32nd Avenue — the southwest corner of the intersection of Cambie Street and West 32nd Avenue, just across from Queen Elizabeth Park — was previously approved by city council in October 2017, but the proponent has returned to the city with a revised rezoning application to convert the strata units into rentals.
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The property, currently occupied by a 1988-built, two-storey single-family home, changed hands in August 2017 in a deal worth $7.039 million.
Designed by Shift Architecture, the original plan called for a six-storey concrete building with 15 strata units. The new proposal now envisions a six-storey building, but with wood construction and 34 rental homes, with 38% of the units sized with two or more bedrooms.
There are also expanded common amenities, including the use of the rooftop.
Other than construction method and use, there are no changes to the form, height, and density approved under the previous rezoning.
It will also contain 29 vehicle parking stalls and 64 bike parking spaces.
The total floor area is 20,500 sq. ft., giving the project a floor space ratio density of 2.46 times the size of the 10,000-sq-ft lot.
The community amenity contribution previously approved will be renegotiated, “recognizing the change in project economics that accompany a secured market rental housing tenure.”