A major developer is a step closer to redeveloping the Arbutus Shopping Centre on the west side of Vancouver.
Larco Investments Ltd.’s application for the first of three phases of construction is included in the Tuesday (September 8) agenda of the city’s development permit board.
In July 2011, council unanimously approved the West Vancouver company’s proposal for the city to rezone the almost three-hectare property for mixed-use development. The plan includes 400 condo units, and an additional 100 units that the developer will turn over to the city for affordable housing. Larco will also develop 269,000 square feet of commercial space.
The entire development involves four buildings with heights of six to eight storeys.
The first phase of construction will cover the northeast portion of the property. The initial development will be an eight-storey, mixed-use building with office space, a restaurant, and a new and bigger Safeway store on the ground floor; underground self-storage and 374 parking spaces; and seven storeys for residential purposes. More than half (115) of the planned 215 homes will be for market rental. The remaining 100 will be nonmarket rentals.
Larco is the owner of West Vancouver’s Park Royal shopping centre.