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Development Options for â€œSite 8â€ in North Vancouver
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(Posted on Jun 29, 2016 at 10:29PM by Michelle Bogle)

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Locally owned and operated since 1980, the Polygon family of companies has built more than 26,000 homes throughout the Lower Mainland, ranging from concrete highrises to wood-frame condominiums, townhomes and single-family communities.Â

Most recently, they have submitted a proposal including two options for a development at 119 â€“ 131 West Esplanade, also known as â€œSite 8â€, which includes lands owned by the City of North Vancouver.Â

The overall rezoning application seeks an amendment to the allowable building height and to rezone the site for construction of a mixed-use building consisting of a residential tower over a commercial podium. The project will also be supported by four levels of underground parking.

Two option are up for consideration:

Option 1 with Non-Market Office Space will include:

â€¢ An 11-storey tower with 107 residential units

â€¢ A building height of 122 ft.

â€¢ A total density of 3.78 FSR

â€¢ The sale of City lands, transfer density and density bonus, resulting is a cash contribution of $10.3 Million

â€¢ 6,000 SF of office space owned by Polygon and rented at below market rates to non-profits

â€¢ 100 parking spaces for off-site uses

Option 2 with Community Amenity Space will include:

â€¢ A 12-storey tower with 117 residential units

â€¢ A building height of 139 ft.

â€¢ A total density of 4.07 FSR

â€¢ The sale of City lands, transfer density and density bonus, resulting is a cash contribution of $8.7 Million.

â€¢ 16,155 SF of City-owned community space for a museum

â€¢ 100 parking spaces for off-site uses

For complete details regarding this project, please click here.Â

For more information regarding this development plan, including its impact on commercial real estate opportunities in Vancouver, please contact our office to speak with one of our advisors.