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market-rate residences, as well as office and Seabus terminal.
and retail space and a child development
center. It will offer concierge and securi-
ty services, parking, access to SFU, and a
grocery and drug store.
The rooftop level of W-43 will be the
home of Club W, a 9,600-square-foot,
two-level indoor and outdoor clubhouse
for residents.
The club’s amenities will include a
rooftop terrace, dining area, fitness cen-
ter, climbing wall, lounge and a W-
shaped hot tub.
Key Location
Rennie notes this is a prime area for
development because it is within walk-
ing distance of the city’s Gastown neigh-
borhood and five minutes from down-
town Vancouver and the main shopping
district.
The project is near Chinatown and a
variety of the city’s arts and entertain-
ment venues such as GM Place, BC Place
Stadium, Queen Elizabeth Theatre and
Science World.
The area also is close to bus routes and
three blocks from the Skytrain station
■ Be an urban revitalization catalyst
“It was important that this develop-
ment served the entire community and
wasn’t just an example of gentrification,”
Rennie says. “We started advertising the
units in November 2005 and offered pre-
views in April 2006. We had more than
6,000 people register with us and saw
4,200 visitors on preview day. As a result,
we sold all 536 condos in one day.
“Vancouver is going through change
and diversifying, which is great. It is
growing so fast that the city had no
choice but to move to the east side
because that is where the most space is.
“We used the slogan ‘be bold or move
to suburbia’ to attract buyers, and ended
up selling the space at more than $550
per square foot,” he adds. “This will be
huge for the city.”
Project Guidelines
To ensure the development meets the
needs of the community, Vancouver has
an extensive list of guidelines for the
redevelopment project.
The mandate includes that it:
■ Be financially viable and self-sustaining
■ Maintain and enhance the existing
community
■ Incorporate the talents and ideas of
people throughout the city
■ Provide employment opportunities for
local residents in both the construction
and operation of the new building
■ Provide opportunities and create syner-
gies for local owners and businesses
■ Be environmentally sustainable
■ Create a lively street front
■ Be accessible
■ Take advantage of the area’s heritage
opportunities
“This development is the perfect
model for sustainability,” Rennie says. “It
will keep the stable community in and
eventually the drugs will leave. Social
housing is there to stay and there will be
a new conscious eye on the street.
“The city didn’t want to kick out the
current residents; it wanted to provide
them – and the rest of the public – with
a better environment,” he adds. “This
development is the perfect combination
of the nonprofit and market sides of
business.” ■
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