CAMBIE CORRIDOR: MTC WORKSHOP OCTOBER 3 / 4, 2017 WORKSHOP FORMAT - - PowerPoint PPT Presentation

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CAMBIE CORRIDOR: MTC WORKSHOP OCTOBER 3 / 4, 2017 WORKSHOP FORMAT - - PowerPoint PPT Presentation

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CAMBIE CORRIDOR: MTC WORKSHOP OCTOBER 3 / 4, 2017 WORKSHOP FORMAT 5:30 pm Arrival, Food and Coffee Display Material 6:00 pm Welcome and Introductions Presentation #1 - MTC Concept, Built Form and Affordability Presentation #2 - Land

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SLIDE 1

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

WORKSHOP FORMAT 5:30 pm Arrival, Food and Coffee Display Material 6:00 pm Welcome and Introductions Presentation #1 - MTC Concept, Built Form and Affordability Presentation #2 - Land Economics 6:40 pm Breakout Discussions Round 1 7:30 pm Pinup discussion summary & break 7:45 pm Presentation # 3 - Transportation and Amenities 7:55 pm Breakout Discussions Round 2 8:20 pm Pinup discussion summary 8:30 pm Finish

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SLIDE 2

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

OAKRIDGE MTC WORKSHOP

CAMBIE CORRIDOR PLANNING PROGRAM

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SLIDE 3

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

TEAM INTRODUCTIONS! Thank you to facilitators and community members

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SLIDE 4

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

PLANNING PHASES Phase 1 (Jan 2010)

  • Principles
  • Interim rezoning

Phase 2 (May 2011)

  • Arterial sites
  • Interim Public Benefits Strategy

Phase 3 (ongoing)

  • Transition areas, off arterials
  • Unique sites
  • Public Benefits Strategy
  • Public Realm Plan

South of 57th Ave: Marpole Plan (2014)

  

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SLIDE 5

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

Fall / Winter 2015

Walking tours Sub-area workshops

Spring 2016

Spring Expo Coffee Chats

Spring / Summer 2017

Open houses Online surveys Coffee Chats Stakeholder workshops

March 2018

Present proposed Cambie Corridor Plan to City Council

Late 2017/ early 2018

Proposed Plan

Fall 2017

Engagement with MTC residents

Spring / Summer 2015

Scope of work approved Launch events Walking tours

Q1

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SLIDE 6

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

CURRENT WORK

  • Land Use: Refining areas proposed for change and providing clarity around

heights and densities

  • Affordable Housing: Aligning Cambie Corridor housing directions with new

Housing Vancouver Strategy

  • Municipal Town Centre: Completing directions for Oakridge MTC to provide

housing affordability & appropriate built form

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SLIDE 7

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

LAND USE OUTSIDE THE MTC Phase 2: Introduced higher density & mixed-use along arterials Phase 3 directions include:

  • New townhouse zone
  • Limited new apartment areas
  • Retain & enhance local shopping areas
  • Unique sites to achieve diverse housing & local

amenities – high level direction

  • Municipal Town Centre
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SLIDE 8

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

HOUSING OUTSIDE THE MTC Retain existing and deliver new rental and social housing

  • Allow greater height/density for 100% rental projects
  • Target 20% affordable or social housing & other amenities on

Major Project & Unique Sites

  • Increased density considered on Phase 2 for social housing
  • Require one-for-one replacement of existing rental & Tenant

Relocation Plan

  • Minimum 35% of new units in a project to be 2 & 3 bedroom

suitable for families Introduce more (and smaller) townhouses

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SLIDE 9

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

WHAT ARE MUNICIPAL TOWN CENTRES?

  • Regionally-designated urban centres

with transit-oriented communities, diverse populations, a range of job, retail, cultural, and public spaces, and a variety of housing options.

  • Ideal location to accommodate

growth (also a Frequent Transit Development Area)

  • Opportunity to create a complete

community

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SLIDE 10

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

WHY WE ARE TAKING A CLOSER LOOK?

  • To maximize the potential of

the City’s only Municipal Town Centre

  • Enable housing that is better

matched to real household incomes

  • Create more job space
  • Establish a built form

that reflects the regional significance of the municipal town centre MTC Boundary

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SLIDE 11

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

HOUSING ENGAGEMENT: WHAT WE HEARD (~ 10,000 PARTICIPANTS)

  • Affordability is the top concern for Vancouver residents, as well as the main

driver in their decision to move away

  • Creating more of the Right Type of Housing and Security and Protection for

Renters were the top priorities identified for the City to tackle

  • Vancouver needs more rental housing options in a diversity of forms in

all neighbourhoods that meet the needs and match the incomes of local residents

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SLIDE 12

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

$0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000

studio 1-bed 2-bed 3-bed

$47,280 $74,200

Vancouver Housing Costs vs. Median Household Incomes

POLICY CONTEXT

  • Housing prices far exceed median incomes in Vancouver
  • ~50,000 households are spending more than 30% of their income on rent
  • Key Housing Gaps: Households earning <$50k & Families earning <$80K
  • Challenging for local employers attracting and retaining young professionals

Average Rent City- wide Average Rent New Buildings Monthly Cost for Condo Ownership Median Income Families Median Income

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SLIDE 13

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

WHAT IS THE GOAL?

RENTAL A healthy rental market is essential to providing a strong economy and housing system. Expanding the rental supply is crucial for Vancouver. Over $80,000/yr Expand the supply of rental units and continue to offer City incentives (e.g. DCL waiver) SOCIAL Housing for low income earners is in urgent need. Delivering social units is a high priority. Under $50,000/yr New development with a minimum of 30% turnkey social units, remainder strata BELOW MARKET RENTAL Rental rates matched to Vancouver resident household incomes to provide the ‘right supply’ for moderate income households. ~$50,000 - $80,000/yr 100% rental with minimum 20% below market units

S

R B

MTC TARGETS

e.g. FAMILY HOUSEHOLD INCOMES

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SLIDE 14

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

Rents in New Market Rentals Proposed Rents in Below Mrkt. Units Income Level Served in Below Mrkt. Units Studio $1,360 $950 $33,000 – $46,000 1-Bed $1,747 $1200 $41,000 – $58,000 2-Bed $2,308 $1600 $55,000 - $77,000 3-Bed $3,030 $2000 $69,000 – $96,000

RENTS IN BELOW MARKET UNITS

Notes:

  • 1. Rents in new market rentals are 2017 DCL waiver maximums for Vancouver East
  • 2. Income levels served in below market units assume 25% to 35% of income is spent on rent
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SLIDE 15

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

WHAT IS THE GOAL OF THE MTC?

R

PURPOSE BUILT RENTAL

  • 6+ storey developments are optimal for

providing more supply of rental units

  • Increased number of units can help alleviate

pressure on a very tight rental market

Low- and Mid-rise

CREATES POTENTIAL FOR

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SLIDE 16

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

High-rise

POTENTIAL FOR ALL OPTIONS

  • High rise developments provide more units
  • Support a diversity of incomes and the inclusion
  • f social or below market units
  • Typically 30 units are needed to allow for

efficient management of any below market or social housing developments

R

S

B

CREATES POTENTIAL FOR

WHAT IS THE GOAL OF THE MTC?

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SLIDE 17

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

OFFICE Create more office space within the Oakridge Municipal Town Centre to provide jobs and create a more complete community. WHAT IS THE GOAL OF THE MTC?

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SLIDE 18

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

Willow St Elizabeth St. Alberta St. Ash St. Manson St. Heather St. Baillie St. e r t a S t . Columbia St.

Heather Street Lands ridge Oakridge Centre

Cambie St. m b i a S t . Willow St. Tisdall St. Columbia Park s mmunity UNIQUE SITE Willow St Elizabeth St. Alberta St. Ash St. Manson St. Heather St. Baillie St. e r t a S t . Columbia St.

Heather Street Lands ridge Oakridge Centre

Cambie St. m b i a S t . Willow St. Tisdall St. Columbia Park s mmunity UNIQUE SITE Willow St Elizabeth St. Alberta St. Ash St. Manson St. Heather St. Baillie St. e r t a S t . Columbia St.

Heather Street Lands ridge Oakridge Centre

Cambie St. m b i a S t . Willow St. Tisdall St. Columbia Park s mmunity UNIQUE SITE

CONCENTRIC RINGS EAST- WEST CONNECTOR SUNLIGHT AND TRANSITIONS

WHAT WAS PRESENTED IN JUNE?

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SLIDE 19

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

WHAT WE HEARD: 650+ RESPONDENTS In general, do you agree or disagree with the overall approach to the Oakridge MTC? Generally, what do you think of each concept?

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SLIDE 20

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

WHAT FURTHER IS BEING DONE?

  • Further economic testing
  • Working with all city departments including:
  • Parks
  • Engineering
  • Transportation
  • Community Services
  • Consultation with Committees
  • Listening to community input to refine ideas and

concepts

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SLIDE 21

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

EVOLVING DIRECTION

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SLIDE 22

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

WHAT WE HEARD?

Desire to see improved transitions along the edges of the Municipal Town Centre to reduce impacts on surrounding neighbourhoods Concern about building heights, particularly along the major streets and at the Cambie and 41st intersection Desire to see stronger connections to parks and the Heather Street Lands General preference for the Sunlight & Transitions concept

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SLIDE 23

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

PROVIDE OPEN SPACE AS PART OF DEVELOPMENTS PROVIDE BUILDING FORMS THAT MAXIMIZE OPPORTUNITIES FOR AFFORDABILITY PROVIDE A VARIETY OF BUILDING FORMS AND HEIGHTS

WHAT WE HEARD?

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SLIDE 24

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

W 3 9 W 47 Willow St. Elizabeth St. Alberta St. Ash St. Manson St. Heather St. Baillie St. A l b e r t a S t . Columbia St.

Heather Street Lands ridge ansit ntre Oakridge Centre

Cambie St. C

  • l

u m b i a S t . Manitoba St. e . W 3 7 . W 41 W 4 4 Willow St. Tisdall St.

Tisdall Park Columbia Park Oak dows Park

Community UNIQUE SITE

HOW IS THIS LANDING? Desire to see street continuity with built form change

  • ccurring at the lane

Allow architectural diversity within a consistent scale

  • Townhouse areas (yellow) to

provide transition to single family areas at key locations

1 1 1 1

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SLIDE 25

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

W 3 9 W 47 Willow St. Elizabeth St. Alberta St. Ash St. Manson St. Heather St. Baillie St. A l b e r t a S t . Columbia St.

Heather Street Lands ridge ansit ntre Oakridge Centre

Cambie St. C

  • l

u m b i a S t . Manitoba St. e . W 3 7 . W 41 W 4 4 Willow St. Tisdall St.

Tisdall Park Columbia Park Oak dows Park

Community UNIQUE SITE

HOW IS THIS LANDING?

  • Townhouse areas to provide transition to

single family areas at key locations

  • Opportunities for expansion of 4 storey

strata and 6 storey rental areas (orange)

1 1 2 2 2 1 1 2

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SLIDE 26

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

W 3 9 W 47 Willow St. Elizabeth St. Alberta St. Ash St. Manson St. Heather St. Baillie St. A l b e r t a S t . Columbia St.

Heather Street Lands ridge ansit ntre Oakridge Centre

Cambie St. C

  • l

u m b i a S t . Manitoba St. e . W 3 7 . W 41 W 4 4 Willow St. Tisdall St.

Tisdall Park Columbia Park Oak dows Park

Community UNIQUE SITE

HOW IS THIS LANDING?

  • Townhouse areas to provide transition to

single family areas at key locations

  • Opportunities for expansion of 4/6

storey areas

  • Tower in open space or Tower on

podiums off arterials (blue)

  • Diversity of form, height and character

while meeting critical mass and density for delivery of housing objectives

1 1 2 2 3 3 1 2 1 2 3

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SLIDE 27

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

W 3 9 W 47 Willow St. Elizabeth St. Alberta St. Ash St. Manson St. Heather St. Baillie St. A l b e r t a S t . Columbia St.

Heather Street Lands ridge ansit ntre Oakridge Centre

Cambie St. C

  • l

u m b i a S t . Manitoba St. e . W 3 7 . W 41 W 4 4 Willow St. Tisdall St.

Tisdall Park Columbia Park Oak dows Park

Community UNIQUE SITE

HOW IS THIS LANDING?

  • Townhouse areas to provide transition to

single family areas at key locations

  • Opportunities for expansion of 4/6

storey areas

  • Tower in the park or Tower on podium

areas off the arterials

  • Tower on podium along key connections
  • further opportunities for retail and local

high street character

1 1 1 2 2 2 3 3 3 4 4 4 1 2

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SLIDE 28

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

W 3 9 W 47 Willow St. Elizabeth St. Alberta St. Ash St. Manson St. Heather St. Baillie St. A l b e r t a S t . Columbia St.

Heather Street Lands ridge ansit ntre Oakridge Centre

Cambie St. C

  • l

u m b i a S t . Manitoba St. e . W 3 7 . W 41 W 4 4 Willow St. Tisdall St.

Tisdall Park Columbia Park Oak dows Park

Community UNIQUE SITE

HOW IS THIS LANDING?

  • Step height back from corners to

provide breathing room at Cambie and 41st intersection

  • Open views associated with plaza

space at Oakridge

1 1

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SLIDE 29

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

W 3 9 W 47 Willow St. Elizabeth St. Alberta St. Ash St. Manson St. Heather St. Baillie St. A l b e r t a S t . Columbia St.

Heather Street Lands ridge ansit ntre Oakridge Centre

Cambie St. C

  • l

u m b i a S t . Manitoba St. e . W 3 7 . W 41 W 4 4 Willow St. Tisdall St.

Tisdall Park Columbia Park Oak dows Park

Community UNIQUE SITE

HOW IS THIS LANDING?

  • Establish a local scale High Street

connecting Oakridge Centre, Plaza space and Columbia Park

  • Locate height to signify the

connection

2 2

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SLIDE 30

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

W 3 9 W 47 Willow St. Elizabeth St. Alberta St. Ash St. Manson St. Heather St. Baillie St. A l b e r t a S t . Columbia St.

Heather Street Lands Oakridge Transit Centre Oakridge Centre

Cambie St. C

  • l

u m b i a S t . Manitoba St. W 4 6 t h A v e . W 3 7 W 37th Ave. W 41st Ave. W 41 W 4 4 Willow St. Tisdall St.

Tisdall Park Columbia Park Oak Meadows Park

Jewish Community Centre UNIQUE SITE

HOW IS THIS LANDING?

  • Enhance secondary nodes marking

the entrance to the MTC

  • Height and density should be lower

than the primary node

3 3 3

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SLIDE 31

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

W 3 9 W 47 Willow St. Elizabeth St. Alberta St. Ash St. Manson St. Heather St. Baillie St. A l b e r t a S t . Columbia St.

Heather Street Lands ridge ansit ntre Oakridge Centre

Cambie St. C

  • l

u m b i a S t . Manitoba St. e . W 3 7 . W 41 W 4 4 Willow St. Tisdall St.

Tisdall Park Columbia Park Oak dows Park

Community UNIQUE SITE

HOW IS THIS LANDING?

  • Locate height and density marking

the North and South arrival to the MTC

  • Signify the start of commercial street

character

4 4 4

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SLIDE 32

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

39th Ave 40th Ave 41st Ave 42nd Ave 43rd Ave 44st Ave

Signal key connection between Plaza and Park Open up 41st create breathing space and relate to Oakridge Centre plaza Transition to PH2 Transition to PH2

CAMBIE STREET

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SLIDE 33

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

41ST AVENUE

JCC

Cambie Alberta Oak Heather Primary Node

Secondary Node

OTC / JCC

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SLIDE 34

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

LAND ECONOMICS 101

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 35

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

ECONOMICS OF REDEVELOPMENT

OAKRIDGE MUNICIPAL TOWN CENTRE

Coriolis Consulting Corp. October 2017

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 36

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

Economics of Redevelopment

Redevelopment will only proceed if:

  • The redevelopment project is financially viable
  • The development project makes contribution toward

community amenities and/or affordable housing

  • Developer pays the existing land owner sufficient amount to

create incentive to sell (more than existing single family house value)

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 37

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

Single Family RS1 Home Values

  • Vary depending on lot size, house size, condition of

home

  • Analysis focused on properties with older homes,

not newer

  • Values (Q1 2017) as RS1 lots generally range

between about $3.2 million (6,000 sf lots) and $4.0 million (8,000+ sf lots)

  • Following illustrations assume smaller (6,000 sf) lots

valued at $3.2 million per lot

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 38

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

Factors Affecting Results

Results of following illustrative analysis will vary based on:

1.

Changes in market conditions

2.

Final planning policy details such as height, density, permitted uses

3.

Amenity and affordable housing requirements

4.

Assumptions based on evolving policy directions - results will change based on final policy

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 39

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

Redevelopment Options Analyzed

1.

Strata Townhouse

2.

Strata 4 Storey Apartment

3.

Rental 6 Storey Apartment

4.

Highrise (strata or rental) apartment with non- market rental component

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 40

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

Estimating Land Value as Redevelopment Site

  • Land Residual Approach
  • Comparable development site sales evidence

Estimated Completed Project Revenues Less Total Estimated Project Creation Costs (excluding land) Less Profit Margin Equals Land Value Before Amenity Contribution Less Amenity Contribution or Affordable Housing Contribution Equals Value Developer Can Pay for Site

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 41

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

Townhouse Land Residual Illustration

Six single-family lots Townhouses

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 42

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

Townhouse Land Residual Illustration

Existing Use Six Single Family Lots Existing Value as Single Family Houses $19.2 million Combined Site Size 37,000 sf Assumed Townhouse Units 30 units Estimated Completed Value of Townhouses $50.8 million Less Estimated Total Costs (excluding land) $20.4 million Less Allowance for Profit Margin (15% of total costs)* $6.6 million Land Residual Before Amenity Contribution $23.8 million Less Amenity and Affordable Housing Share** $0.2 million Value Developer Can Pay for Site $23.6 million

* Typical minimum target to secure financing ** Based on current density bonus payment required for townhouse in RM-8 zoning district – rate for Cambie to be determined, likely to be increased from RM-8

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 43

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

4 Storey Strata Land Residual Illustration

Six single-family lots Apartments (4 storey strata/ 6 storey rental)

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 44

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

4 Storey Strata Land Residual Illustration

Existing Use Six Single Family Lots Existing Value as Single Family Houses $19.2 million Combined Site Size 37,000 sf Assumed Apartment Units 70 units Estimated Completed Value of Strata Apartment Units $66.1 million Less Estimated Total Costs (excluding land) $30.9 million Less Allowance for Profit Margin (15% of total costs)* $8.6 million Land Residual Before Amenity Contribution $26.6 million Less Amenity and Affordable Housing Share** $2.0 million Value Developer Can Pay for Site $24.6 million

* Typical minimum target to secure financing ** Based on current density bonus payment required for apartment in RM-9 zoning district – rate for Cambie to be determined, likely to be increased from RM-9

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 45

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

Highrise Land Residual Illustration – 70% Strata Apartment with 30% Non Market Housing

Six single-family lots Highrise with social/strata

  • r 100% rental with

below market

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 46

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

Highrise Land Residual Illustration – 70% Strata Apartment with 30% Non Market Housing

Existing Use Six Single Family Lots Existing Value as Single Family Houses $19.2 million Combined Site Size 37,000 sf Assumed Strata Apartment Units/Share of Floorspace 110 units/70% Assumed Non Market Apartment Units/Share of Floorspace 60 units/30% Estimated Completed Strata Apartment Value $119.7 million Less Estimated Total Strata Costs (excluding land) $60.6 million Less Allowance for Profit Margin (15% of total costs) * $15.6 million Land Residual Before Affordable Housing Contribution $43.5 million Less Total Cost of Affordable Housing $18.3 million Value Developer Can Pay for Site $25.2 million

* Typical minimum target to secure financing

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 47

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

FINDINGS

Townhouse, 4 storey strata, 6 storey rental support similar land

  • 1.

Townhouse, 4 storey strata, 6 storey rental support similar land values

2.

Higher density apartment does not necessarily result in higher land value due to the expectation for a large affordable housing contribution

3.

All scenarios being considered should meet the conditions needed for redevelopment to proceed:

  • Project is financially viable
  • Project can make contribution toward community amenities and/or

affordable housing

  • Developer can pay the existing land owner a significant premium
  • ver existing single family house value

4.

Actual land values will depend on final approved planning policies and changes in market conditions

*For illustrative purposes

  • nly - does not reflect current

market conditions

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SLIDE 48

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

BREAKOUT TABLES

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SLIDE 49

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

DIVERSITY OF FORM

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SLIDE 50

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

Columbia Park

43rd Ave 44th Ave

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SLIDE 51

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

HOW HAS THE EVOLVED CONCEPT RESPONDED TO COMMUNITY INPUT WHILE MEETING CITY AND CORRIDOR WIDE OBJECTIVES? 6:40 pm Overall discussion 7:20 pm Summarize Top 3 ideas on Pin Up charts 7:30 pm Pinup discussion summary

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SLIDE 52

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

PLANNING FOR AMENITIES AND TRANSPORTATION IN THE MTC & CORRIDOR

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SLIDE 53

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

PUBLIC BENEFITS STRATEGY

  • A full Public Benefits Strategy will be released with the draft plan
  • Includes community facilities, childcare, housing, parks,

transportation and utilities

  • Direction for future capital investments over the long term (30 years)
  • Priorities for the next 10 years
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SLIDE 54

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

PARKS AND OPEN SPACE IN CAMBIE CORRIDOR:

  • 150 ha, 17 parks & open spaces
  • Ranging in size from Ash Park (0.5 ha) to Queen Elizabeth Park (53 ha)

WORK UNDERWAY:

  • Parks & Recreation Services Master Plan (mid-2018)
  • People, Parks and Dogs Strategy (fall 2017)
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SLIDE 55

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

ALREADY APPROVED: New parks:

  • OTC, Oakridge and Pearson
  • Fraser River

Playground renewals:

  • Douglas, Ash and Winona

ADDITIONAL IMPROVEMENTS (10YRS):

  • Queen Elizabeth Master Plan and

Phase 1 upgrades

  • Tisdall Park upgrades
  • Columbia Park fieldhouse renewal
  • Synthetic turf (location tbd)
  • Urban forestry & habitat enhancement
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SLIDE 56

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

COMMUNITY FACILITIES IN CAMBIE CORRIDOR:

  • 3 Community Centres:

Douglas Park, Hillcrest and Marpole-Oakridge – Sunset nearby

  • 2 Libraries (Terry Salman, Oakridge Centre)
  • Childcare facilities (1,020 existing spaces, 74 under construction)

WORK UNDERWAY:

  • VanSplash (City-wide) Aquatics Strategy (end of 2017)
  • Study on arts & cultural spaces (fall 2017)
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SLIDE 57

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

ALREADY APPROVED:

  • Oakridge Civic Centre:

Community Centre with seniors centre, library, childcare

  • Marpole-Oakridge Community Centre

renewal

  • Childcare facilities: OTC, Pearson
  • Adult day centre at Pearson

ADDITIONAL IMPROVEMENTS (10YRS):

  • Hillcrest Community Centre: Fitness

Centre expansion

  • YMCA redevelopment
  • New childcare facilities (various

locations) including:

  • 2 to 3 facilities (138 - 207 spaces)

for 0 - 4 years old

  • 2 to 3 facilities (90 - 135 spaces)

for 5 - 12 years old

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SLIDE 58

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

WHAT ADDITIONAL ACTIVITIES/PROGRAMS NEED SPACE IN THE MTC?

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SLIDE 59

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

TRANSPORTATION IN CAMBIE CORRIDOR:

  • Cambie St. is an important corridor for moving people and goods
  • Canada Line very successful, connecting downtown with the airport and

destinations along the Corridor (Oakridge, Langara College) WORK UNDERWAY:

  • TransLink’s 10-year vision: Canada Line increase in peak hour capacity

(commenced January 2017) and 22 new vehicles. Bus service improvements, including introduction of B-Line Service on 41st Avenue

  • COV: on-going transportation improvements (signals, cycling infrastructure, etc.)
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SLIDE 60

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

PLANNED IMPROVEMENTS & PUBLIC BENEFITS (10 YRS):

  • Improve transit service & expand capacity
  • Add pedestrian signals & missing

sidewalks

  • Improve existing bikeways (e.g. 33rd Ave)
  • Incorporate Complete Street design

approach as redevelopment occurs along Cambie St, King Edward Ave, 41st Ave & 49th Ave

  • Expand public bike share service area
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SLIDE 61

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

TRANSPORTATION AT THE LOCAL LEVEL

  • Exploring the finer grain

network

  • Looking at opportunities for

public space

  • Integrating all the elements of

a complete community

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SLIDE 62

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

CREATING A NETWORK Opportunity for new unique connections Heather Street

  • Key connection to Heather

Street Lands and Oakridge Centre 43rd Ave

  • Key connection to local park

Yukon Street

  • Key connection between parks
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SLIDE 63

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

CREATING A NETWORK Opportunity for a more connected pedestrian network Mid Block Connections

  • Better connect lanes and

discontinuous roads

  • Expansion of mid-block

connections Place Lanes

  • Enhance the commercial lanes
  • Expand on the Public Realm
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SLIDE 64

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

ARE OTHER LOCAL LEVEL TRANSPORTATION IMPROVEMENTS NEEDED TO SUPPORT THE MTC?

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SLIDE 65

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

WORKSHOP FORMAT 7:55 pm Table Discussion #2 8:20 pm Pinup discussion summary 8:30 pm End

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SLIDE 66

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

NEXT STEPS To date have 4,500 + in- person interactions with community members Your input will be used to help shape the final Cambie Corridor Plan

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SLIDE 67

CAMBIE CORRIDOR: MTC WORKSHOP

OCTOBER 3 / 4, 2017

THANK YOU! CONTACT THE PROJECT TEAM CAMBIECORRIDOR@VANCOUVER.CA 604-873-7038 EXT 3 GET UPDATES SUBSCRIBE TO EMAIL UPDATES ON VANCOUVER.CA/CAMBIECORRIDOR