CITY OF VANCOUVER
COMMUNITY SERVICES
Planning Department
Current Planning
Refers ITEM 1(b)
PUBLIC HEARING AGENDA
MAY 28, 2003
M E M O R A N D U M | |
DATE: |
May 27, 2003 |
TO: |
Mayor Campbell and Councillors |
FROM: |
L. Beasley, Director of Current Planning |
COPY TO: |
J. Rogers, City Manager
|
SUBJECT: |
Text Amendment: FCN ODP & Areas 1A/1B CD1-s
|
At its meeting of April 22, 2003, City Council approved the recommendation of the report Housekeeping Text Amendments in the False Creek North Official Development Plan By-law No. 6650 and CD-1 (Comprehensive Development) By-laws No. 7675 and 8109 (500 and 600 Pacific Street): Density Transfer to Complete the Approved Form of Development (report dated April 08, 2003), that the Director of Current Planning make application to amend the FCN Official Development Plan and the CD-1 By-law for Beach Neighbourhood (500 and 600 Pacific Street) and that this application be referred to Public Hearing.
If approved, this set of text amendments would:
1. transfer 7 432 m² (80,000 sq. ft.) of residential floor area from Coopers' Park Neighbourhood (FCN Area 6A immediately east of Cambie Bridge) to Beach Neighbourhood (500 and 600 Pacific Street); and
2. correct recent errors in the text and diagrams of the False Creek North Official Development Plan.
When City Council referred these proposed amendments to Public Hearing, it further approved:
THAT staff provide a memo to reflect the understanding that the increase in value due to the transfer of density from east to west of Cambie will be used in part to ensure the Alan Jacobs redesign of Pacific Boulevard is realized.
Staff acknowledge that the proposed transfer of density from Area 6A to Beach Neighbourhood might generate some increase in value for the developer. However, staff also believe that the differential will be difficult to estimate. While these two neighbourhoods are different in location, size and surrounding development, both have south-facing sites near the False Creek waterfront intended for mid- and high-rise development.
Nevertheless, staff believe that the value increase could be significant enough that negotiation was undertaken with Pacific Place Developments Corp. which was keen to see the work on the modified Pacific Boulevard design advanced so that the impacts of road reconstruction activity on its new developments in Beach Neighbourhood would be minimized.
A cost-sharing arrangement has been developed whereby Pacific Place Developments will complete the modified Pacific Boulevard design (the Alan Jacobs design), as City Council has approved, on the Beach Neighbourhood portion of the street. The developer has agreed to proceed with the work as soon as the City's final engineering design is completed and will take responsibility for all cost risks associated with this work. The City's contribution would take the form of a reduced parking pay-in-lieu for Site 5EF at 900 Beatty Street (reduced by 50 spaces). This change to the Stadium Parking Agreement will be reported to Council in the very near future.
Larry Beasley
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