Agenda Index City of Vancouver

ADMINISTRATIVE REPORT

TO:

Vancouver City Council

FROM:

Director of Current Planning

SUBJECT:

626 West Pender Street (London Building) - Designation and Heritage Revitalization Agreement

 

RECOMMENDATION

A. THAT Council authorize the City to enter into a Heritage Revitalization Agreement to secure the rehabilitation and conservation of the London Building at 626 West Pender Street and vary Section 3 of the Downtown Official Development Plan By-law to permit a density bonus of 7 400 m2 (80,000 sq. ft.) to be transferred off-site;

B. THAT Council amend Schedule A of the Heritage By-law to designate the exterior of the building, and portions of the interiors of the main lobby, main double-height chamber or hall, and main staircase, as described in detail in the body of the report for the London Building at 626 West Pender Street as protected Heritage Property;

C. THAT Council authorize the Director of Legal Services to prepare the Heritage Revitalization Agreement By-law and Heritage By-law amendment in accordance with the previous Recommendations in this report.

GENERAL MANAGER'S COMMENTS

COUNCIL POLICY

The Heritage Policies and Guidelines outline a procedure to be followed in applying the heritage density bonus provision as permitted in the Downtown Official Development Plan. The Transfer of Density Policy and Procedure allows for the transfer of density from heritage sites in the Central Area.

An Issues Report was brought forward to Council at the Standing Committee of Council on City Services and Budgets, Thursday, April 26, 2001. Council's decision is provided below:

PURPOSE

The purpose of this report is to seek Council support for a Heritage Revitalization Agreement (HRA) that would authorize a transferrable density bonus and secure the conservation and protection of the "B" listed London Building at 626 West Pender Street.

BACKGROUND

The London Building at 626 West Pender Street (originally the New London Building), is located on Pender Street between Granville and Seymour Streets, as shown on the map in Appendix A. It is located in Sub-Area B of the Downtown District, which permits a maximum FSR of 7. The site is 52' X 120' and the building has an FSR of approximately 9. The building is in need of major upgrading in order to meet current Building By-law requirements. The owner has proposed to undertake conservation work on the exterior and significant interior features in exchange for a heritage density bonus. Development Permit DE406066 details the proposed scope of work in the rehabilitation, restoration and renovation of this building.

DISCUSSION

Heritage Value: The London Building (1912) was designed by the prominent architectural firm of Somervell & Putnam. This firm had also designed such significant commercial structures as the adjacent Bank of Montreal, the Seymour Building, the BC Electric Building and the Birks Building which once stood at the corner of Georgia and Granville. The London Building is a carefully detailed example of Edwardian Commercial Neoclassicism with its embellished cornice, decorative coursing and medallions at the upper levels, and its richly-ornamented iron storefront at street level. The building is clad in Haddington Island stone with marble trim. The main entrance and lobby areas have been modernized.

The original banking hall on the main floor was a monumental space in its double-height proportions. The understated detail in the moulded plasterwork of the coffered ceilings and floral ornament to the column capitals reinforced this grandeur. Partial enclosure of a mezzanine to the west wall and Pender Street altered the original configuration of this space. The main floor lobby has also been substantially altered, but the original open stairwell remains intact, including gray-green marble wainscot, with curved end panels, marble treads, cast iron risers, balusters and newel posts. Appendix B and Appendix C (both on file in City Clerk's Office) contain drawings/photos of what is proposed for designation.

Compatibility of Conservation with Community Planning Objectives: The London Building is sited within the Existing Character Area A - Financial District of the Central Area (DD). The DD Land Use and Development Policies and Guidelines Character Area Descriptions, Existing Character Area A - Financial District state that:

This proposal meets the intent of the Land Use and Development Policies and Guidelines by maintaining the character of the area and streetscape by preserving a significant and historic building. The HRA and designation will require subsequent changes to the building to be subject to a Heritage Alteration Permit (HAP) and will also require repair and/or replication of the heritage building in the event of damage or destruction.

Heritage Revitalization Agreement: The HRA, as recommended in this report, would achieve the following:
· limit the on-site density to that "as-built";
· establish a heritage density bonus of 7 400 m2 (80,000 sq. ft.) for transfer to another site within the Central Area;
· secure the rehabilitation and continued maintenance of the exterior of the building as well as certain interior elements listed below:


The bonus amount is to compensate the owner for designation and the costs of retaining, restoring, rehabilitating and upgrading the heritage building.

Condition & Economic Viability of Conserving the Building: The building is in generally good condition but requires some restoration and repair. The owner has proposed to repair and repoint the exterior stone, terra- cotta and brick, restore the iron storefront (including reversing changes made in the 1960s); and on the interior restore the main lobby and main stair; and restore a portion of the main hall to its original double-height configuration and restore interior detail to the coffered ceilings and column capitals. The building will also be seismically upgraded as part of an overall upgrade to ensure compliance with the Vancouver Building By-law. The proposed transferable density bonus will ensure that the conservation of the heritage building is economically viable.

Support To Enable Conservation: The Manager of Real Estate Services advises that the proposed transferable density bonus and conservation of the heritage building would not provide the applicant with an extraordinary profit based on an analysis of this proposal. The owner is committed to enter into the Heritage Revitalization Agreement and designation with the City and waive future claims to compensation.

The amount of density Council has approved in principle to date remains unchanged since December 2001 when staff last reported on the matter with regards to the Woodwards site. This is because the density under consideration today was already approved in principle by Council in April 2001 and was factored into the Woodwards report numbers. To the benefit of the density bank, the owner of the London Building has made application to transfer 1 700 m² (18,000 sq. ft.) of the heritage density under consideration to another downtown site he owns at 1085 Homer Street (and Helmcken).

Here is a reminder of the current status of the density bank. As of December 3, 2001, there is 10 667 m² (114,830 sq. ft.) already in the density bank. An additional 16 982 m² (182,800 sq. ft. which includes the 80,000 sq. ft. density bonus proposed for this building) has been approved in principle by Council bringing the Density Bank balance to 27 650 m² (297,630 sq. ft.). Subsequently, approximately 9 300 m² (100,000 sq. ft.) of transferable density has come forward for consideration but is yet to be approved by Council. If approved this would bring the bank to approximately 37 000 m² (400,000 sq. ft.). Both of these figures are near or above the historic Density Bank high of 29 914 m² (322,000 sq. ft.). Staff will be reporting back on a comprehensive analysis of how it should be managed, and what levels can be accommodated while protecting the stability of the banked density market. Because the London Building density has already been factored in, final approval of this density bonus is supported.

RECOMMENDATION A would allow the owner to transfer density to another site when heritage work of equal value has been completed or is secured by a separate agreement to the satisfaction of the City. To this end, Staff and the owner have agreed in concept to two acceptable forms of security. The owner could post a letter of credit for the value of density transferred. If the heritage work has not commenced within six months following, the City can use the letter of credit to do the related heritage work and charge the owner for any additional costs. The second form of security is to withhold occupancy on the 1085 Homer Street development until the heritage work is complete. The 1085 Homer site is owned by the same owner and as noted above is proposed to receive for approximately 18,000 of the heritage density.

Comments of the Vancouver Heritage Commission: At its meeting on December 3, 2001, the Vancouver Heritage Commission supported the proposed Heritage Revitalization Agreement and Designation as described in this report.

Notification: In accordance with the Vancouver Charter Public Hearing provisions, a newspaper ad has been placed in two consecutive issues of a local newspaper.

CONCLUSION

The proposed Heritage Revitalization Agreement would compensate the owner for the extraordinary costs involved in the conservation of this heritage building with a transferable density bonus. The recommended Heritage Revitalization Agreement and designation will secure the long-term protection and conservation of this "B"listed Vancouver Heritage Register building.

- - - - -

APPENDIX A

SITE MAP SHOWING LOCATION OF THE LONDON BUILDING
626 WEST PENDER STREET

* * * * *

ph020122.htm

Comments or questions? You can send us email.
[City Homepage] [Get In Touch]

(c) 1998 City of Vancouver