A six-storey, mixed-use building is being considered for a site at 3429 to 3469 Fraser St. under the City of Vancouver’s Rental 100 program.
If the rezoning application is approved, the building would feature 104 secured market rental units, including:
- five three-bedroom townhouse units, averaging 1,278 square feet
- six three-bedroom apartments, averaging 873 square feet
- 28 two-bedrooms, averaging 711 square feet
- 32 one-bedrooms, averaging 501 square feet
- 33 studios, averaging 363 square feet.
Commercial space would be included at grade level. Developer Rize Alliance and the firm Yamamoto Architecture are involved in the project.
The rezoning application, which goes before an open house April 2, states that increasing the supply of secured market rental units and increasing the supply of family housing are among the rationale for the proposal.
The property is on the northwest corner of Fraser and East 19th Street, across from Glad Tidings Church.
Incentives available to developers through the Rental 100 program include the potential for parking requirement reductions, additional floor area, and a development cost levy (DCL) waiver if rents meet or fall below city guidelines.
The applicant is not seeking a DCL waiver, but might be eligible for parking reductions or additional density based on the initial staff evaluation of the project, according to the City of Vancouver.
The open house for the rezoning proposal runs from 5 to 8 p.m. at Glad Tidings Church at 3456 Fraser St., April 2.
Once staff have completed a final review of the application, and all feedback has been looked at and considered, a report will be submitted to council with recommendations prior to a public hearing.