Relatively minor changes have been made to the proposal to build the second gateway tower into downtown Vancouver at the north end of the Granville Street Bridge.
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A revised rezoning application was submitted last week for Pinnacle International Development’s proposal to develop the 62,200-sq-ft site at 601 Beach Crescent — on the east side of the bridge deck, opposite of Vancouver House. The project is designed by Shanghai-based Jyom Architecture and local firm GBL Architects.
The latest changes are relatively minor and include a reduced height in the podium, adjustments to parking, additional setback from Beach Crescent and Granville Bridge, and a reorientation of the podium form to reduce shading of the outdoor amenity space.
“The revised design integrates both the tower and podium as one entity by allowing the skin of the tower to flow down and gradually transition from vertical to horizontal ribbons that form the façade of the podium,” reads the design rationale.
“The movement of the tower is celebrated in the podium as well. The systems and materials will be further refined into similar types that unify the tower and podium. From every angle the tower is in dialog with the podium.”
The height of the tower has been increased from its previous proposal of 535 ft to 563 ft, with 55 floors. It will be taller than its counterpart, Vancouver House, at 493 ft.
The proposal is being considered under the city’s Higher Buildings Policy.
“It has been established that the forms of the two towers contrast yet through proportion and scale is recognized as a true gateway pair. A tower that is lesser will disassociate this desired relationship. Therefore, the similar floor plate shape and size has been retained even after the relocation of the tower in order to maintain this balance,” continues the rationale.
There will be 455 new homes, including 303 condominiums and 152 social housing units; the condominium unit mix is 93 one-bedroom units, 142 two-bedroom units, 68 three-bedroom units, while the social housing unit mix is 20 studios, 77 one-bedroom units, 30 two-bedroom units, and 25 three-bedroom units.
On the ground level, nearly 22,000 sq. ft. of retail and restaurant space will supplement the area’s new cluster of retail anchored by the neighbouring Vancouver House.
Four underground levels will accommodate 455 vehicle parking stalls, plus 970 bike parking spaces.
With a total floor area of about 494,000 sq. ft., it will have a floor space ratio density of a floor area 7.95 times the size of the lot.
In 2016, the municipal government sold the property to Pinnacle International for a base acquisition price of $20 million, and as part of the deal another $44.5 million will be spent on constructing 152 affordable housing units on behalf of the municipal government.
On top of all that, the developer agreed to further payments on an incremental scale, with the amount determined by the approved size of the project. For instance, the municipal government will receive an additional $73 million if the build-able floor area is 200,000 sq. ft. and $127.75 million if it is 350,000 sq. ft.