The City of Vancouver’s approved 500-block strategy to add massive density along Broadway Street’s future east-west subway line has long been the subject of controversy. CityofVancouver | realestatenews Vancouver BC
11:52 AM Jul 25, 2023
There’s also a substantial office component, specifically around the Oak-Vancouver General Hospital and Broadway-City Hall transit stations, where office towers up to 32 storeys are allowed.vision is to add more than 40,000 new jobs along the corridor and to create a second downtown featuring Vancouver’s trademark podium-style towers that offer retail at ground level.
by Jameson Development Group. That project, which proved highly controversial when it was first proposed because of its height, received $164M in low-interest financing from the provincial government this year.To the west, construction is also underway for PCI Developments’that will include retail, office, grocery and rental homes, located directly on top of the new South Granville Station.
“They have owned the property for some time and the doors won’t be open for several years so there is every possibility that by the time it’s ready, there will be an uptick in the office market,” he says. “But it will be several years before it’s at market, and hopefully at that point, with all the action on Broadway, there will be the need for more office tenancy on Broadway. It’s basically a timing issue.
The Broadway corridor will offer a mix of commercial and residential, including retail and hotel. It’s a departure from the conventional separation of downtown commerce and living. It also fits with the trend for living close to where you work, and being within reach of amenities, as opposed to long commute times, says Letvinchuk.
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