This project was announced in December 2021. The Developer was on a fast track with the intent to start construction in Q3-2022. This project is designed as a 14 16 story, 268 299 unit tower on Block 21 at the Waterfront. Block 21 has the highest allowable height under the guidelines listed by the FAA and this building intends to take advantage of that. The structure will be the tallest on the waterfront thus far with drawings showing a height of 156.75 feet. That will make it the 3rd tallest occupied building in Vancouver behind 805 Broadway @ 165 feet and Smith Tower @ 158 feet. Plans do show a 16th floor rooftop patio are that will be the highest in the city surpassing Kirkland Tower’s 12th floor (defacto 13th) rooftop patio and gardens recently completed.

Although Modera is planned as a luxury building, it will have some affordable units in exchange for tax breaks under the MFTE program. Completion of this project would typically take 18-24 months, I’d say add 6 months due to the supply chain issues of late.

Update 9/9/2022: The CCRA did a design review of this project a few months ago and it was unanimously approved. Most of the land use permitting is done so it is now down to general construction permits and final approval by the city council. I haven’t heard much on this development since the CCRA approved it last spring. The target ground breaking in Q3 2022 is unlikely since Q3 ends in three weeks.

Update 10-25-2022: I have heard nothing further on this project despite its ‘green light’ status from pre-construction government regulators. Of course economics have changed a bit with higher interest rates making financing a bit tighter. I wouldn’t be surprised if Block 21 is used as a staging area to support the Block 19 project currently under construction. So far the block remains empty so that could be a sign that Mill Creek Residential is ready to move forward.

Update 12/8/2022: According to a report in the Columbian Newspaper on 12/6/2022 Mill Creek Residential is on track to start construction this upcoming spring.

Update 6/5/2023: Well there is about 20 days left of “spring” so I doubt we will see a construction start in Q2. The land sale has not closed yet, I don’t think we will see any activity until that happens. I scoured the loan funding site to see if a large construction loan was secured for the project and did not see it. That does not mean it didn’t happen. Mill Creek Residential has broken ground a several other large projects in the last few months in other markets, so they seem busy. It could also be that they are waiting for Block 19 to either complete or near completion to free up the street for construction staging this large tower.

Update 6/9/2023: I noticed that some road base and asphalt chip was laid over the top of Block 21 but with no excavation so the slope is intact. There is quite a bit of above grade soil there. I saw a construction worker so I stopped and asked him whether they were staging there or something else was happening. He indicated they were given permission to use the lot for construction parking but explicitly NOT staging. He also said that the project slated for Block 21 is “9 months out.” He didn’t know who or what was building on the lot. I let him know it was Mill Creek Residential and the planned tower is 14-16 floors and 285-300 units.