Concord Pacific received approval from Vancouver City Council for its multi-building Marine Gardens redevelopment near Marine Drive Station’s growing hub.
In the seven-storey mid-size building, 70 rental units and a 37 space daycare will be constructed, while 514 residential units will be built over two 27 and 21-storey high-rise towers.
The buildings, between Cambie and Yukon streets, are said to help meet the city’s goal of building high-density housing along major transit routes.
Consequently, existing tenants within the affordable 70 units who moved there as part of a demonstration project for the 1976 United Nations Habitat conference will be rolled into Concord Pacific’s Tenant Relocation Plan that includes a 20 per cent discount on first rent agreement and a first right refusal to rent a completed unit.
Overall, the project will measure 455,000 square feet and rise near the three-tower Marine Gateway mixed-use complex that will serve as a commercial, retail and entertainment centre, expected to be complete this fall.