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SEPT 17, 2020
Getting Urban Industrial Right – New False Creek Flats development offers mixed-use model for Vancouver
Hungerford Properties and QuadReal Property Group are today launching sales in a new, mixed-use development at the corner of Main and 1st Avenue that offers a model for future developments in Vancouver and across North America. The new development, Archetype, is the first to combine strata office, industrial and residential rental on one site, fulfilling the City of Vancouver’s vision for the False Creek Flats as a hub for job space, flexible housing, sustainability, arts and culture. This is a prototype development for the city, as it combines purpose-built rental and commercial for the first time in the area, which has historically been a centre for heavy industry.
Archetype will shape the future of Vancouver’s False Creek Flats neighbourhood by offering 32,000 SF of creative industrial strata, 67,000 SF of office strata and 200 rental homes in a visually striking building form. With a multi-purpose amenity room, extensive rooftop landscaping and ground floor retail, this dynamic building spans an entire city block and is anchored on the east and west by two mid-rise towers bridged by an eight-storey residential building and unified by creative industrial spaces that wrap around the entire development.
“In addition to offering the only true office tower in the area, Archetype will be the link between Olympic Village, Mount Pleasant and the educational campuses to the east,” says Marc Ricou, SVP of Development for QuadReal Property Group. “Thanks to the foresight of the City of Vancouver, the new zoning accommodates a diversity of uses that will create vibrancy and community in an evolving and increasingly densifying part of the city. This development will be a true blend of office, residential and creative.”
With artistic, manufacturing and service uses needing less loading and parking space, Archetype’s industrial units are smaller and feature doors opening to the street, an attractive design element for breweries, service and fabrication companies. Another design highlight is the pedestrian connection linking Science World and the SkyTrain to the nearby Emily Carr campus and the first station on the upcoming Broadway SkyTrain extension. This new “Art Walk” smartly divides the office tower from the rest of the project by way of a thoughtfully designed and visually interesting pedestrian route.
“Archetype is the first of its kind under the new local area plan for the False Creek Flats and a model for true mixed-use future developments in Vancouver and across North America,” says Michael Hungerford, partner with Hungerford Properties. “We are creating a micro, balanced community, a rare blend of creative urban industrial, office, retail and residential on transit in an architecturally-significant building that honours the heritage of the area. For example, we’ve wrapped the industrial space around the ground floor where it will contribute to an active and vibrant street environment.”
FC-2 zoning under the False Creek Flats plan supports a variety of creative uses, including food and beverage production, fashion, product design, retail and manufacturing. Archetype’s industrial strata offering provides an ideal location for creative designers and manufacturers who want to interact with the community while bringing their ideas to life. Units have high-profile street exposure with mezzanines and full-height sliding glass doors and laneway units with glass overhead doors. The AAA office space has 11 ft ceilings and units can be subdivided to maximize long-term liquidity options for owners, whose business needs change over time. The residential rental building is targeting Fitwel certification, which provides guidelines on how to design and operate healthier buildings. Units range from one to three bedrooms, offering balconies, a private rooftop garden and top-grade finishings.
For both creative industrial and office tenants, there is a 3,400 SF common rooftop amenity space including an indoor lounge and informal workspaces, a flexible 40-person multi-purpose meeting room, south-facing outdoor patio including harvest tables and seating areas, indoor-outdoor bar seating, all with mountain views.
Designed by GBL Architects, Archetype will see the redevelopment of an industrial site into a new community with places for the public to live, work, shop, eat, drink and create.
Headquartered in Vancouver, Canada, QuadReal Property Group is a global real estate investment, operating and development company. QuadReal manages the real estate and mortgage programs of British Columbia Investment Management Corporation (BCI), one of Canada’s largest asset managers with a $153.4 billion portfolio.
QuadReal manages a $37.6 billion portfolio spanning 23 Global Cities across 17 countries. The company seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.
Hungerford Properties is a successful and growing firm with more than 40+ years of success investing in, managing and building residential, office, retail and industrial properties in Western Canada. Hungerford has developed and refurbished millions of square feet of real estate assets across Western Canada, and currently manages a portfolio of diversified assets. Hungerford offers in-depth knowledge and experience in property management, asset management, sales and marketing, development, acquisitions, finance and accounting, operations and business development.