Yesterday, Vancouver city council approved Phase 3 of the Cambie corridor plan, which will radically change the current neighbourhoods surrounding Cambie Street, from West 16th Avenue to the Fraser River.
Part of an expansive, 30-year plan, this phase incorporates new zoning regulations which will permit 1,700 existing single-family lots to be replaced by townhomes, rental housing, and retail space. The plan aims to create 32,000 new housing units, of which 25 percent are planned for people with low and modest incomes.
“We are transforming Vancouver's single-family neighbourhoods so more people can live, work and play there, while also adding new parks, community facilities and public spaces, and improving transportation," Mayor Gregor Robertson said in a media release.
It’s expected that more than $450 million will be invested in the corridor over the next 10 years, including the creation of Oakridge Municipal Town Centre in the area around Cambie Street and West 41st Avenue. This area will see the corridor’s highest density, and maximum allowable building heights of up to 330 feet. In all, it’s estimated that space for more than 9,200 jobs will be created within the new developments along the corridor.
“This is a major city-building initiative that sees about 50,000 more people living close to rapid transit in vibrant, complete communities over the next 30 years," wrote the city’s chief planner, Gil Kelley, in a media release.
Completed after consultation with more than 7,000 people during the planning process, the plan anticipates multiple community benefits. Included are 1,080 new childcare spaces, more than eight hectares of new parks, a new civic centre and seniors centre, an expanded cycling network, improved walking areas, road upgrades, and a series of new public plazas.