The City of North Vancouver Council has approved a new $400 million waterfront neighbourhood on Harbourside Drive right on the Burrard Inlet. This mixed-use development now has the greenlight to go ahead and start development and construction. The entire area will constitute a new lifestyle and a dramatic change to North Vancouver's south side waterfront.
The entire development will consist of 18 buildings, 1.16 million square feet of development space built by Concert Properties on 12 acres of ocean front property. It will include the following:
- 800 residential units (including both condominums and rental units)
- 216,000 sqft of office space
- 55,000 sqft of retail space
- and even a 100,000+ sqft hotel
This huge undertaking will be able the same equivalent development cost and timeframe as Vancouver's Olympic Village. North Vancouver is seeing a lot more attention due to it's relatively low density housing market and desirable living conditions. Since this development is not located near any large bus routes, Translink and North Vancouver may have to sit down to discuss future transit plans regarding the expected growth to the area.
Concert Properties is expecting to institute a private shuttle bus service from the Seabus to the area but that is still in development. We look forward to seeing how this new development will progress and what they will likely name it! If you are interested in learning about this or any other development in the region, please don't hesititate to contact me.