In the urban pipeline there are numerous projects in various stages of development and it has been a few since I updated these proposals and under construction projects. But first, on the local urban condo scene a quick update; sales, new listings, and pendings were pretty typical again this week. Inventory remains about the same.
COVID-19 of course has had an impact on projects. The City Center Redevelopment Authority held its first meeting since February last week. It is quite reasonable to suggest that the pipeline of proposals working through the system has been slowed due to a bureaucratic delay imposed by Corona Virus regulations and cancellations. The City of Vancouver is also notoriously slow when updating the online projects status on the city website. I’ve seen a building topped out before the city has changed the status from under review to approved. This is why I go to the meetings or listen to the recorded sessions to try and stay on top of activity.
Active urban projects under construction:
- Kirkland Tower, 12 floor condominium project on the Waterfront was topped out in 2019. This project was delayed a bit during the phase one reopening period as construction briefly was halted and then continued at a slower pace to remain compliant with the Governor’s rules. Phase two seems to have opened things up a bit and the glass front cladding is nearly complete. The tower crane was removed back in February by the authority of the FAA so this has likely slowed that process a bit. I have not seen any official completion adjustments, but I doubt they can make the Q4 2020 date, I’m figuring Q1 2021. The adjacent 8 story hotel will likely complete first.
- Several urban apartment projects are hammering away, The Aria is topped out, the Vancouver Center tower 4 is fully clad and now seeing final exterior trim and interior finishing. Our Heroes Place a two tower complex on Mill Plain is complete and leasing. Both of the 4 story apartment buildings in the VW-10 project in Midtown are topped out.
- The Columbia on Block 20 at the Waterfront is nearing completion on the underground garage and base podium. This 248 unit apartment building will rise rather quickly after the steel and concrete work is complete on the base. I believe the top 5 floors will be wood frame construction although I have not confirmed that yet. The suggested target opening of “July 2021” suggests wood frame for the top five floors.
- Al Angelo’s Mill Plain II tower is topped out. The steel and concrete structure will be a mixed use building with some apartments included in the mix. It serves as the companion to the previously built Mill Plain I tower.
Proposed projects getting close:
- The AC Marriott Hotel at Terminal One has completed the ground prep but no activity yet on actual construction. The city has approved the plans but perhaps some permitting issues remain.
- The City green lighted the Hyatt Place Hotel on West 4th and Washington. This is a small hotel with 5 floors and a rooftop bar and patio. This seems like a nice little project. Evergreen and Ryan Hurley are involved in the development. I’d expect to see a ground breaking very soon.
- Aegis Phase One received the City blessing early this year, but has yet to get final approval to pull permits as near as I can tell. All indications were for a Q2 start, but COVID-19 may have led to delays. Since Q2 ends tomorrow I suppose Q3 is more likely for a start. I’m rather excited about this project as it will clean up the area around the beautiful Academy Building.
Proposed projects (selected):
- Timberhouse on Block 3 at the Waterfront remains in the pre-app phase. I have been unable to get a comment from the developer on the status of this project that is one of my favorites. This 12 story CLT (cross laminated timber) building seems to be stalled, but no one has said one way or another. The block was sold to the project developer, so it remains reasonable to assume they will start this project at some point in the not too distant future.
- The Springs Living proposed a 12 story senior community for Block 18 on the Waterfront last year. I would imagine they have their hands full dealing with COVID-19 in their other facilities around the Northwest. Not much has been released aside from the initial drawings in the pre-app submission. Based on my observations this will be a flagship location for them.
- The Trestle on Block 14 was a proposal last spring (2019) for a 16 story CLT tower that received media attention but has not publicly progressed any further. The Kaiser + Path website in Portland shows a number of cross laminated timber projects including the “world’s tallest” CLT building, but no mention of this project. The Block remains in the ownership of Waterfront.
- Vancouver Downtown, Block 10 is slated to get underway as soon as the Vancouver Center Tower 4 project is not needing the staging space on the block. This is a full block mixed use project by Holland Partner Group. A two story podium mixed with retail and structured parking will have two towers over the top one with five floors of residential, the other 4 floors of office. Block ten has sat idle for decades following the closure and subsequent demolition of the Lucky Lager Brewery complex.
- Gramor’s 14 story 80 unit condo tower on Block 16 at the Waterfront, has been proposed since the early development stages. The waterfront is advertising the project proposal on their website. I would imagine the success at Kirkland Tower will be monitored and have an effect on how this tower ultimately is built and marketed.
Urban Living in the ‘Couv’ is still tracking roughly 50 urban projects as they make their way from proposal to completion. Keep checking back every week for updates and information. Also remember you can track real time progress and activity of listed urban condos anytime by visiting this page.