Oakridge Centre has changed hands from Ivanhoe Cambridge to QuadReal Property Group and the new owners have plans to do a major redesign for a mixed-use development. QuadReal has selected Westbank as their partner for this redevelopment. 

"Along with QuadReal, we have an opportunity to bring to fruition a new standard of urban living about which we have long been passionate - a cultural hub that takes every element of a vibrant multicultural city and shares them with our community and millions of visitors a year," said Ian Gillespie, Founder of Westbank. "We believe the future of Oakridge Centre will be even more dynamic than its past. We have few opportunities in life to create world-class projects - this will be one."

The new Oakridge Centre will be a true mixed-use community. As a prototype for inspiring city-making, it will be a culturally and environmentally sustainable model that harnesses the potential of a large urban site situated at a transit hub. The variety and diversity of retail will be increased to allow Oakridge to better serve new residents and the neighbourhood at large. A new outdoor shopping street, High Street, will bring about a different type of retail experience with cafés and restaurants spilling out onto the street which will enliven the community after the interior retail closes for the day. 

A consolidated amenity building with a seniors’ centre, a library, and multipurpose rooms will be adjacent to 9 acres of public open space. This expansive area will feature activity fields, urban agriculture, quiet gardens, a reflecting pool, sport courts, a running track, and more... a space for everybody to enjoy. The rezoning approved by the City of Vancouver in 2014. Estimated completion is 2025 as per Westbank and new redevelopment plans will be available to the public for review in the fall.

More details here: Oakridge Redevelopment.

For all your real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca.

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The City of Vancouver has a desire to redevelop the Cambie Corridor and launched the three-phase planning program in 2009 with the purpose of guiding long-term, transit-oriented growth. The Cambie Corridor is located in central south Vancouver and encompasses approximately 2,471 acres. This area extends 6km from West 16th Avenue to the Fraser River and is bordered by Oak Street and Ontario Street. The Cambie Corridor has roughly the same population as the West End, but five times the land area. 4 out of the 9 Canada Line stations are within the Cambie Corridor. Map view can be found below.

Source: City of Vancouver, Cambie Corridor Phase 3 Community Profile

Currently, Phase 3 is underway by building on the plan, focusing on land use and new housing opportunities while remaining within close proximity to the Canada Line stations. On June 12, 2017, the City announced that there are 11,500 new homes planned for the Cambie Corridor, of which more than 4,000 are intended to be "affordable" homes, including social and rental units that are linked to residents' incomes.

“The third phase of the Cambie Corridor Plan is the first of many exciting steps that puts the City’s Housing Strategy into action with vision for the neighbourhood that delivers a housing mix that meets peoples’ needs,” said Vancouver Mayor Gregor Robertson. “I’ve heard loud and clear that people want a mix of housing – rental, townhomes and row houses – near schools, parks and transit in Vancouver’s low-density neighbourhoods. This plan for the Cambie Corridor provides that and more.”

According to the City, the new interim 10-year housing targets will create housing that is "based on what people can afford, in new locations, and in housing forms that will meet the needs of our diverse population". These housing targets will be refined throughout the fall and will form part of the final Housing Vancouver Strategy.

For all your real estate needs, contact Amalia Liapis at 604-618-7000 or alternatively at amalia@wesellvancouver.ca.

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Looking for major developmental projects happening in the Lower Mainland? Look no further! The BC Major Projects Inventory (MPI) gives details on projects within BC with a capital cost value of $15M or $20M within the Lower Mainland area. Take a look below for a snapshot of some private and public sector construction projects.

 
 

For a more comprehensive look at the projects, click hereFor all your real estate needs, contact us at info@wesellvancouver.ca or alternatively at 604-801-6654.

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