The first-ever project under Vancouver's new zoning district has officially launched, bringing a nine storey mixed-use development to Mount Pleasant. Stranddev | AY_Canada | realestate realestatenews developments mixeduse Vancouver
, analyzing economic issues and challenges the city may face in the future, particularly as it relates to employment space and job growth.
The review identified the top edge of the Mount Pleasant Industrial Area — along West 2nd Avenue, bordering on Southeast False Creek — as a strip of land where the new I-1C zoning would be allowed, and rezoning to Residential or Comprehensive Development would not.
Three Sixty was already in the works prior to the City’s aforementioned review of employment lands, with original plans calling for a four-storey building. After the I-1C zoning was introduced, the design for Three Sixty was changed to double the density. The development will now be a nine-storey mixed-use building, with light industrial space on the four lower floors and office space on the five floors above . The building will also include four levels of underground parking and a rooftop patio, with a total leasable floor area of 112,000 sq. ft, according to Strand.The biggest difference with I-1C zoning is that while most other light-to-medium industrial zones only allow for a maximum FSR of 3.0, I-1C zoning allows for a FSR of 6.
With its mix of industrial and office use, Three Sixty is yet another example of a “stacked” industrial space, a style that has grown increasingly common in Vancouver as a result of an industrial land shortage. Other notable projects of this nature include PC Urban’s Evolution Block in the False Creek Flats and Wesbild’s Marine Landing in South Vancouver.
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