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Vancouver’s West Broadway is in the midst of a ‘land rush’ - The Globe and Mail A long-established Vancouver family, the Pappajohns, snapped up the Denny’s restaurant site on West Broadway this year for $26-million. (Colliers) “Once we have confirmed funding and an annual project, we’ll engage in a planning process,” says Jane Pickering, Vancouver’s acting general manager of planning. “Around transit stations, it’s pretty clear there will be some densification.” One area that does have the green light for greater density is around the existing Commercial-Broadway station, the secondbusiest in the transit system. Increased density around that station was recently approved as part of the Grandview-Woodlands community plan, which is mapping out what services are needed as the neighbourhood grows by 10,000 people over the next 25 years. There is a Safeway grocery store with a large parking lot next to it, where developer Ian Gillespie of Westbank Corp., who has worked with Safeway on other projects in the past, is in the midst of designing a new complex of towers with residential and office space. Mr. Stovell says he’s certain the province, which has to commit to millions of dollars in funding, along with the federal money, for the project to proceed, will be pushing the city to http://www.theglobeandmail.com/report-on-business/industry-news/property-report/vancouvers-west-broadwayis-in-the-midst-of-a-land-rush/article31494096/[26/09/2016 11:59:03 AM]
Vancouver’s West Broadway is in the midst of a ‘land rush’ - The Globe and Mail allow more density. Reliance Holdings acquired a large West Broadway site, which includes the current Mountain Equipment Co-op store that is due to move in a couple of years. Plans call for rental units on the site. (Colliers) “Clearly, the province is convinced the Broadway line has to go along with densification. They’re not going to allow what happened on the Expo line again,” he says. The city’s first transit line opened in 1986 – the Expo line ran from downtown Vancouver to Surrey – and is remarkable for the low density of development that still exists around its stations 30 years later. But there are no firm guarantees on exactly what density will be allowed. That’s not stopping property buyers, though. The prospect of a new transit line along West Broadway has made commercial buildings more appealing to developers. (Colliers) Mr. Stovell’s company, Reliance Holdings, acquired a large site eight blocks east of the IHOP restaurant, the current Mountain http://www.theglobeandmail.com/report-on-business/industry-news/property-report/vancouvers-west-broadwayis-in-the-midst-of-a-land-rush/article31494096/[26/09/2016 11:59:03 AM]
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