RICHMOND | Pinnacle Park Place: 16 highrises | Proposed

[mr.x]

PINNACLE PARK PLACE, Richmond

Pinnacle International, Concord Pacific, and Sun Tech City Developments have applied for rezoning and the construction of a 17.2 acre parcel of land bounded by No. 3 Road, Sea Island Way, Sexsmith Road, and Capstan Way. This is a huge proposal, and it includes:

- 16 high-rises up to 14 storeys in height
- 25-space daycare
- 100-units of social housing (five per cent of the total residential component)
- 2,134 residential units
- hotel
- retail and commercial
- $250,000 worth of public art
- live-work units (the idea is that shop owners would live above their ground-floor retail operations - something that reduces reliance on cars)
- parking reductions of 35%, compared to city by-law standards
- developer contributing $15 million to fast-track the construction of the Canada Line's Capstan Station, adjacent to the development. Construction on the station could start after the line is completed, in 2010.
- a transit-oriented development
- sustainability: green roofs and geothermal heating
- a 1.4-acre city-owned park

Concord Pacific owns 1/3rd of the site (http://www.concordpacific.com/gateway) while Pinnacle owns 2/3rds of the site.











View from No. 3 Road



View from Sexsmith Road & No. 3 Road

[bils]

good find

question: is this development separate from the concord pacific development also slated for the area? cuz they were planning on building ~15 highrises as well.

[mr.x]

Originally Posted by bils

good find

question: is this development separate from the concord pacific development also slated for the area? cuz they were planning on building ~15 highrises as well.

Yes, it's the same thing. Pinnacle owns 2/3rds of the property while Concord owns the other third.

From the Richmond Review:
---------------------
By Martin van den Hemel
Staff Reporter
Mar 31 2007

It may have lost out on the lands surrounding the speed skating oval, but Concord Pacific still plans to make a major residential development splash with its first foray into Richmond.

The developer of Downtown Vancouver’s False Creek is now the majority interest in one-third of the 6.9-hectare (17.1 acre) property immediately east of No. 3 Road and north of Capstan Way. The site sits west of Sexsmith Road and south of Sea Island Way. A previous development was dubbed the Sun Tech Place.

Pinnacle International retains control of the remaining two-thirds of the property.

Peter Webb, vice-president of development for Concord Pacific, told The Richmond Review that groundbreaking for the 16-tower residential community—five towers to be done by Concord, the remainder by Pinnacle, all centered on a future city park—could begin early next year.

Webb said Concord is also “pursuing” an assembly of land near the Capstan site, which comprises about 9.3 hectares (23 acres).

Concord Pacific develops master plans for communities, Webb explained, and typically looks for large areas of land. Along the Sea-to-Sky Highway, it’s working on the 1,400-unit Porteau Cove development and in Kelowna, a residential subdivision.

“When you’re into a community design, you’re incorporating into your design, things such as parks, public walkways, daycares, schools, public amenities of various natures, different architectural forms and types relating to different market groups.”

The types of projects Concord associates itself with “require some longer term commitment to the community in terms of development strategies.”

Affordable housing is incorporated in the current rezoning application, Webb noted.

But no commitments have been made regarding daycares and schools, “but that’s a result of the history of this existing rezoning application,” he said.

Thousands of people will eventually move into the area, Webb said.

“As we move into Richmond as well, we’re looking for large land development assemblies that include an opportunity to apply a master plan approach and bring to it Concord’s expertise in understanding how higher density tower environments are designed,” he said.

“We like the relationship to the Canada Line. We think it represents a good connection between the future of Richmond and its relationship with Vancouver and the dense nature of Concord’s development history.”

City of Richmond spokesperson Ted Townsend said Concord and Pinnacle’s rezoning application is still making its way through the process, but the plan could surface at a planning committee of council in April and could reach a public hearing as soon as May.

Webb sees the developments by Concord and Pinnacle, along with Wall Financial Corporation’s plan to build two 16-storey residential towers and an 11-storey hotel on its Sea Island Way property west of No. 3 Road, as the catalyst for the reshaping of northern No. 3 Road.

Although Webb wouldn’t comment on Concord’s failed bid for the oval lands, he did say Concord is “looking throughout Richmond. We are continually looking at properties in Richmond at this point.”

Concord and Pinnacle are jointly seeking a rezoning of the land, which Webb expects will wrap up in the next six months. Concord purchased its majority ownership in the southern third of the site, along Capstan Way, in May of 2006.

Webb said it will take at least five years to complete the project, with Hazelbridge Way extended and curved eastward before connecting with Sexsmith Road.

[bils]

thx i was lookin for that article!

wicked

[officedweller]

Nice find! Thanks!

[EastVanMark]

Great looking plan. Richmond is booming!