TransLink, Partners Commit to First Real Estate Development project

TransLink and PCI Developments (PCI) formed a new partnership to build a proposed mixed-used development near the future Arbutus SkyTrain Station.

Located next to the future terminus of the Broadway Subway, an incoming bus loop, and the Arbutus Greenway mixed-use walking and cycling path — this is the first development under TransLink’s Real Estate Development Program. The transit-oriented development will improve people’s access to sustainable transportation options, generate new long-term funding for transit services, and provide much-needed housing options.

“This partnership will help us build a new transit-oriented community, where people can more easily take transit, walk, or cycle,” says TransLink CEO Kevin Quinn. “This program will generate much-needed long-term revenue to expand and improve vital transit services, while aligning with local and provincial government goals to increase housing supply.”

TransLink and PCI own adjacent plots of land on the southeast corner of Arbutus and Broadway and have entered an equal development partnership. The proposed development would include:

• 30 stories of mixed-use residential and commercial space
• Street-level retail and over 200 residential rental units, 20% of which will be rented at below market rates and secured for moderate-income households
• Community space that will serve as the future home of the Ohel Ya’akov Community Kollel, a Jewish cultural, education, and neighborhood center.

As Metro Vancouver’s population continues to grow and demands on transportation and housing increase, people are increasingly looking toward transit-oriented communities to live and work in. The transit-oriented development will be in-line with the City of Vancouver’s Broadway Plan while helping to achieve targets outlined in Transport 2050 and Metro 2050.

Further details of the project are still being finalized and will be shared with the public later this spring through a TransLink and PCI-led public engagement process, including a community open house. Following this initial public engagement phase, a formal rezoning application will be submitted to the City of Vancouver.