Cambie Corridor Plan and Project Updates

[Jebby]

Originally Posted by Metro-One

Haha, I was thinking the same thing, also I don't think there is a single image without people in wheel chairs. There must be some sort of horrible event soon to happen in this city that only those behind this presentation are aware of...

I think it has more to do with the fact that the land currently houses people with disabilities and extreme debilitating disorders/diseases.

[Millennium2002]

Well, this is interesting.

Personally, I'd prefer the core option, but feel that the core functions should be offset towards the northeastern corner where the transit plaza is, rather than the northwestern corner. OR, it may still work if there is street retail between the core and the transit plaza.

In some ways such a plan may look more like the cluster plan, but at the same time the location of the pool in the cluster plan is out of place, and I wish that it was closer to the core.

Finally, the continuum plan is just crap, frankly speaking, due to the aforementioned concerns about complicating the grid with a suburban-style street network.

[whatnext]

Originally Posted by WarrenC12

That's a hippy-dippy presentation, even for Vancouver.

Probably the latest trend to come out of some urban planning school.

It makes most sense to go with the core concept, focused on compementing the existing retail at Langara Gardens. The site's going to be saddeld with the problem of the dead zone golf course running along one side.

It would be better to move the functions of Pearson to West 12th across from VGH. Demolish the parkade there and replace it with underground and a new rehab facility.

[wrenegade]

I actually like the Continuum plan. That or the core. There isn't a traditional street grid in that area right now anyways, and I think the Continuum plan makes it easiest for pedestrian access through the site to the transit plaza.

[Alex Mackinnon]

Originally Posted by whatnext

Probably the latest trend to come out of some urban planning school.

It makes most sense to go with the core concept, focused on compementing the existing retail at Langara Gardens. The site's going to be saddeld with the problem of the dead zone golf course running along one side.

It would be better to move the functions of Pearson to West 12th across from VGH. Demolish the parkade there and replace it with underground and a new rehab facility.

Except for the possible plans to reduce the area of the golf course by shrinking it on the Cambie side...

[whatnext]

Some shots I took near Oakridge:

There goes the neighbourhood (Prelude south wall) :
[IMG][/IMG]

Prelude
[IMG][/IMG]

What's with the freakishly high ground floor (compare to residential floow above)
[IMG][/IMG]

Coming soon next door (though I think the house with the Japanese garden might divide them)

[whatnext]

Just a note there is a Pearson plan open house tonight and again on Saturday morning. Details:
http://cityhallwatch.wordpress.com/2...on-sept-12-14/

[jlousa]

Here are the boards as I'm sure most members didn't bother getting out to the meeting tonight.

City's boards

Introduction and What We Heard (City boards 1-9)
http://vancouver.ca/files/cov/pearso...d-city-1-9.pdf

Proposed Concept Plan (City board 10)
http://vancouver.ca/files/cov/pearso...-10.pdfhttp://

Guiding Principles (City boards 11-16)
http://vancouver.ca/files/cov/pearso...city-11-16.pdf

Draft Policy Statement and Next Steps (City boards 17-18)
http://vancouver.ca/files/cov/pearso...city-17-18.pdf

Vancouver Coastal Health boards

Whole Health Elements and Context (VCH boards 1-5)
http://vancouver.ca/files/cov/pearso...boards-1-5.pdf

Proposed Concept Plan (VCH board 6)
http://vancouver.ca/files/cov/pearso...ch-board-6.pdf

Flow and Access (VCH boards 7-10)
http://vancouver.ca/files/cov/pearso...oards-7-10.pdf

Grow, Thrive, and Harmonize (VCH boards 11-15)
http://vancouver.ca/files/cov/pearso...ards-11-15.pdf

Building Heights and Views (VCH boards 16-19)
http://vancouver.ca/files/cov/pearso...ards-16-19.pdf

Elevations and Sections (VCH boards 20-21)
http://vancouver.ca/files/cov/pearso...ards-20-21.pdf

Directions and Guiding Principles (VCH boards 22-24)
http://vancouver.ca/files/cov/pearso...ards-22-24.pdf




Pretty massive density being proposed, along with Langara Gardens just to the north there might actually be enough population to justify the station at 57th Ave after all.

[WarrenC12]

Originally Posted by jlousa

Pretty massive density being proposed, along with Langara Gardens just to the north there might actually be enough population to justify the station at 57th Ave after all.

Maybe Translink can get rid of the #15 bus or at least reduce the service. I can't believe how many people are on that bus...

[red-paladin]

Building the station as a public ammenity is great.

[djh]

Originally Posted by WarrenC12

Maybe Translink can get rid of the #15 bus or at least reduce the service. I can't believe how many people are on that bus...

Do you mean you can't believe how *few* people are on the bus? Or do you mean you can't believe how busy that bus is?

I regularly use that bus. It serves 2 purposes - for intra-skytrain travel (I'm half-way between Broadway Station and King Edward Station, so it's 9-10 blocks walk in either direction on a hill, so a bus is very useful there) - and it's also extremely convenient for getting from the Cambie corridor to Granville Island.

I think it also runs at 12-15 minute intervals already, so it's hardly a frequent bus.

I hope the 15 route stays.

[WarrenC12]

Originally Posted by djh

Do you mean you can't believe how *few* people are on the bus? Or do you mean you can't believe how busy that bus is?

I regularly use that bus. It serves 2 purposes - for intra-skytrain travel (I'm half-way between Broadway Station and King Edward Station, so it's 9-10 blocks walk in either direction on a hill, so a bus is very useful there) - and it's also extremely convenient for getting from the Cambie corridor to Granville Island.

I think it also runs at 12-15 minute intervals already, so it's hardly a frequent bus.

I hope the 15 route stays.

Can't believe how busy it is... as in why people take it. I understand your issue, but I think this would be better served by a community shuttle every 20 mins.

[deasine]

Originally Posted by WarrenC12

Can't believe how busy it is... as in why people take it. I understand your issue, but I think this would be better served by a community shuttle every 20 mins.

How would that be "better"? From Broadway to King Edward, King Edward to 41st, and of course South of 49th, there are a lot of local stops that need to be served.

[whatnext]

Originally Posted by WarrenC12

Maybe Translink can get rid of the #15 bus or at least reduce the service. I can't believe how many people are on that bus...

From years of firsthand observation, there's more people using that bus than the Cambie bike lane.

[Jess9]

Hi,
My uncle, who's pretty old and doesn't know much about the current house market conditions, asked me to help him to assess the value of his house, which is right on Cambie and near Marine Drive. I researched on the internet and found a lot of transactions along the Cambie street in the past year were in the range of 3 to 3.5 millions. But I could not find any transactions near the southern end of Cambie. All I found were two MLS listings (V1029929 & V1029843) between Cambie 63 to 64th, which are selling at $1788000 and $1990000. A developer called him once 2 weeks ago and told him that they are interested in buying his house privately and told him his house worths only 1.7 mil. It's pretty weird that those 2 MLS listings are asking for such low prices compared to others. I thought my uncle's house is pretty near the Marine Gateway & MC square, and he should ask for a price over 3 mil. Any one knows why the houses near the end of Cambie street are asking for such a low price? Or are those listings real?

I would appreciate any kind of insight. Thank you.

[red-paladin]

If it were me, I would probably ask a realtor to assess the value of the house before selling.

[jlousa]

How big is the lot? If you state the dimensions and which block it's on it should be easy to calculate what it's worth. Just multiply the lot size by the allowed fsr and you'll get how much buildable sqftage you have, then multiple that by a reasonable number for the area and presto you'll have your number. If they already own the properties next to you and need yours the price can be inflated a bit (don't get too greedy otherwise you get stranded with a practically unbuildable lot, +10% and all fees would be reasonable ask +25% and they probably walk).

The property V1029929 seems like a good deal at ~$100per buildable sqftage, the fact it's not sold leads me to believe the neighbors aren't interested in selling at all.

[Jess9]

Originally Posted by jlousa

How big is the lot? If you state the dimensions and which block it's on it should be easy to calculate what it's worth. Just multiply the lot size by the allowed fsr and you'll get how much buildable sqftage you have, then multiple that by a reasonable number for the area and presto you'll have your number. If they already own the properties next to you and need yours the price can be inflated a bit (don't get too greedy otherwise you get stranded with a practically unbuildable lot, +10% and all fees would be reasonable ask +25% and they probably walk).

The property V1029929 seems like a good deal at ~$100per buildable sqftage, the fact it's not sold leads me to believe the neighbors aren't interested in selling at all.

The lot size is 54X100. If FSR 2.5, buildable area should be about 13500 sq feet. Then I don't know what numbers to plug in to arrive at a reasonable asking price.

I realized that on 41st between Willow and Baillie streets, 5 properties were sold at $15750000, which means average about 3.15 mil per house.

There is also a residual method that I found on the net that shows how to calculate the amount that shows how much money the developer would be willing to pay to acquire the land. First, it estimates the gross revenue of all units sold. For a 5400 sq feet land and it could be converted to 6 storey building. I guess about 20 units could be built on this land. For an average price of $500000 per unit, the gross revenue could be 10 mil. If the developer pays 3 mil for my uncle's house plus about 1 mil of CAC to the city, then there would be 6 mil left for the building cost and the profit margin. Then, if the developer could acquire all 5 lots, I guess his profit could be over 10 mil for the whole project.

Based on the above really rough estimation. Is 3 mil asking price too much? His house is near 63rd and Cambie.

[jlousa]

With a 2.5 FSR and only 6 stories allowed I don't he'd get any bites at $3M right now. If your uncle is in no hurry he'd be better off waiting ~5yrs until after the Pearson site and Langara Gardens begin to see action.
Even $2M seems to be pushing the high end it on a buildable sqftage cost for the area. Talk to a couple of realtors from different agencies that specialize in the area as they'll know how much interest there is.

[VanK]

Originally Posted by Jess9

The lot size is 54X100. If FSR 2.5, buildable area should be about 13500 sq feet. Then I don't know what numbers to plug in to arrive at a reasonable asking price.

I realized that on 41st between Willow and Baillie streets, 5 properties were sold at $15750000, which means average about 3.15 mil per house.


Based on the above really rough estimation. Is 3 mil asking price too much? His house is near 63rd and Cambie.

Yes. $3M is way too much. You can't compare the transactions on an absolute price basis - mainly because lots sizes are different. In my opinion, ROUGH land prices along Cambie should be in the Plus/Minus $150/buildable square foot range. = 13,500sf x $150 = $2,025,000. Now in my personal opinion, the buildable lot values down in the Marine Drive area vs Oakridge/King Ed should be lower. Coupled with the fact that most of the major developers who want to be on Cambie have already bought, there is less demand for Cambie Corridor lots. At $3,000,000 = $222 per buildable square foot. Yes this is WAY too much IMO.