TransLink announces housing development partnership
The 30-storey project would be beside the future Broadway Subway line.
TransLink and PCI Developments (PCI) are announcing a new partnership to build a proposed mixed-used development near the future Arbutus SkyTrain Station, on West Broadway and Arbutus.
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.
Officials say 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,” said 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 storeys of mixed-use residential and commercial space
- Street-level retail and over 200 residential rental units, 20 per cent 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 neighbourhood centre
“We are honoured to be partnering with TransLink on this significant transit-oriented, mixed-use development,” said PCI Developments president Tim Grant. “We are similarly excited about partnering with The Kollel in delivering their new community and worship premises – all in conjunction with desperately needed market and below-market rental housing in a sustainable development adjacent to Arbutus Station and the Arbutus Greenway.”