“There are certain types of job lands that need single-use in order to keep land values low and taxes low…Protecting job growth from the greater profitability of residential [development] is an absolutely key aspect of a sustainable city.” Vancouver Sun
Proposed: TALLEST BUILDING outside the downtown core in Vancouver
May 27, 2010
PCI Group has proposed the tallest tower outside the downtown core, Marine Gateway on Canada Line, at Marine Dr. and Cambie St. in Vancouver [map].
And while the ambitious project would provide 577 residential units and housing for 750-850 people, the city is wary of approving it.
Why? This area of town is in an industrial zone, so if residential starts moving into the area, speculation might quickly follow. Basically, property prices in the area could rise and push businesses in the area out.
The Director of Planning for the City of Vancouver said:
Sounds like pretty sound logic, but it would be so COOL. Ahh well, we’ll have to keep up on what happens with the final ruling!