Nicola Wealth Real Estate has submitted a proposal to the City of Vancouver for a twin rental tower project at 2111 Main Street in the Mount Pleasant neighborhood. The development features two high-rise buildings of 24 and 22 stories, designed to offer a combination of residential, commercial, and cultural spaces. This project is being considered under the larger urban strategy outlined in the Broadway Plan.
The proposed development site is located between East 5th Avenue and East 6th Avenue on Main Street. Historically, the site housed the City Centre Motor Hotel, built in 1954. After Nicola Wealth Real Estate’s acquisition of the property in 2021, it was temporarily repurposed as the City Centre Artist Lodge. The property is currently valued at $43,973,000.
The development application involves rezoning the site from IC-1 (Industrial) District to CD-1 (Comprehensive Development) District. This change would be necessary to accommodate the proposed mixed-use buildings and aligns with the Vancouver Green Buildings Policy for Rezoning and the Vancouver Building Bylaw 2019, focusing on energy and emissions performance.
Development Specifications
Residential Components
The proposal includes a total of 446 rental units, with 20% designated as below-market rentals. The development also emphasizes family housing, with 40% of the units planned as two- or three-bedroom apartments.
The North Tower (24 storeys would contain 230 units, including 41 studios, 99 one-bedroom, 60 two-bedroom, and 30 three-bedroom units. The South Tower (22 storeys) would feature 216 units, comprising 56 studios, 70 one-bedroom, 77 two-bedroom, and 13 three-bedroom units.
Commercial and Cultural Spaces
The ground floor would offer 14,710 square feet of retail space. In addition, the development will include 5,000 square feet of arts and cultural space to be provided in-kind to the City, and 10,321 square feet of outdoor amenity space. The project also features 4,841 square feet of privately-owned public space.
Design and Architectural Features
The buildings are designed with a floor space ratio (FSR) of 9.93. The North Tower would reach a height of 70.3 meters (231 feet), with additional height for rooftop amenities. The design approach aims to create a subtle architectural presence, allowing the lower podium to enhance the pedestrian experience and foster a community-oriented atmosphere. A notable design element is the “breezeway” that separates the two towers, providing a connection to the Main Alley creative campus currently under development by Westbank.
Transportation and Amenities
The development would include 197 below-grade parking spaces spread over three levels and 1,065 Class A bicycle stalls to support cycling. The building is close to existing and planned public transit options, for a transit-oriented design.
Application Process and Timeline
The rezoning application was submitted on May 3, 2024. A public Q&A period is scheduled from July 3 to July 16, 2024, allowing for community feedback.