Live In Commercial Drive

Think of 10 high-rises, each with 22 storeys and every floor measuring about 6,500 square feet. That’s the equivalent of what developers could put up in Vancouver with the available density supply—that is, if they’re building at all in this economic climate. Vancouver has so much unused density that city staff have expressed concern about awarding more of it to developers in return for saving heritage buildings. Developers can either use the density they’ve earned or sell it to other builders. This matter came to the fore at a December 18 deliberation by council on a proposal to restore the former York Theatre on Commercial Drive. Proponents had suggested a 100-percent density transfer, meaning that developer Bruno Wall would get a density bonus valued between $10 million and $11 million—the cost of rehabilitating the theatre—which he could in turn use on another project. ...