Vancouver OKs False Creek development
VANCOUVER — The northeast corner of Vancouver’s False Creek has long been something of a no man’s land. Prior to Expo ’86, it was largely industrial, while post-Expo, it has mostly been parking lots.
But not for much longer. After a special meeting on Tuesday, Vancouver council passed its Northeast False Creek plan.
The basic idea is to redevelop the site into a new waterfront neighbourhood with up to 12,000 residents. It will have an Indigenous name, which will be determined after consultation with the Musqueam, Squamish and Tsleil Waututh First Nations.
Most of the new residents will be housed in 20 to 25 highrises that will stretch from the Plaza of Nations on the west to Carrall Street on the east.
Many will be market condos, but one area will be set aside as rental, and there will be social housing in the mix — 1,800 units that are expected to house about 3,500 people.
The 20-year plan includes $1.7 billion in benefits for the city, which hopes to recoup most of the cost from development levies and contributions from the federal and provincial governments.
About $600 million will go to affordable housing, and $360 million to “critical infrastructure,” such as tearing down the Georgia and Dunsmuir viaducts and replacing them with a new street network.