City Square Mall: The mixed-use commercial complex City Square Mall (located immediately west of Vancouver City Hall) has just been sold for $225 million in one of the most expensive property acquisitions in Vancouver this year. The complex was sold to Sun Commercial Real Estate Group, based in Richmond, at well above its latest assessed value of $102.7 million. This significant purchase price might be indicative of its future redevelopment potential, keeping with the trend of incorporating shopping centres into a redevelopment, similar to the Brentwood Mall and Oakridge Mall projects currently underway.
Patullo Bridge Replacement: The BC Ministry of Environment and Climate Change Strategy & the BC Ministry of Municipal Affairs and Housing announced last week that the $1.3 billion, four-lane suspension bridge construction project (crossing the Fraser River between New Westminster and Surrey) has passed its assessment. The replacement bridge will be built 100 metres upstream the existing 1937-built structure and will be designed with the capability to be widened to six lanes in the future. While the project has passed the provincial environment assessment, it still requires other federal, provincial and local government permits and approvals.
TransLink: TransLink has just launched the first phase of its Transport 2050 public consultation, inviting the public to submit feedback for the region’s transportation future. The last time an engagement was made was in 1993, which provided the input that eventually led to the Canada Line, Millennium Line and the Evergreen Extension. This public consultation will lead to the creation of a new regional transportation strategy that will guide TransLink’s decision for the next 3 decades. TransLink’s public engagement will reach out to residents of all 23 of the region’s municipalities and their respective municipal governments. Public feedback can be submitted through surveys at Transport2050.ca, and the first phase of the public engagement will end in September.
Granville Island 2040: Granville Island’s long-term strategy, budgeting and planning – named Granville Island 2040 – is a planning project aimed to produce a comprehensive vision for Granville Island for the next quarter century. Released last year, it includes a plan to build an elevator from the Granville Bridge to the island, expansion of the public market, and increased support for arts and innovation after Emily Carr University relocated to a new campus on Great Northern Way. As a first step, an autonomous governance structure – a 7-member Granville Island Council – was recently appointed with the aim of putting decision making authority in the hands of local people who understand Granville Island and its importance to the community. We’ll report further developments as they happen!
PNE Playland: The Vancouver City Council’s approved master plan for the future of Hastings Park will include a significant Playland expansion. A renewal for the aging outdoor amphitheatre is expected with a preliminary design concept that includes an expansive roof structure, new power and water connections, washrooms, food & beverage concessions, VIP suites, box office and a covered stage. The design would include flexibility to the stage size, seating configurations, and floor plans to allow for the venue’s use by a wide range of events.