Lions View

Lions View | HFBC Housing Foundation (now Brightside)

Lions View | HFBC Housing Foundation (now Brightside)

Lions View | HFBC Housing Foundation (now Brightside)

Lions View involved the redevelopment of a three-acre site which was originally developed in the 1950s with 91 units of bachelor and one-bedroom units for low-income seniors. These units were spread out over the entire site in row housing and low rise buildings that had reached the end of their useful life.

Terra developed a unique four-phase plan that required a partnership between numerous parties including the tenants, the community, all three levels of government, a private developer and architect, various technical consultants and three different lenders (one government and two private). As well, the site needed consolidation and re-zoning to permit subdivision into three lots.

Terra worked with the Society to oversee and execute this major redevelopment including helping the Society choose an architect/developer team that would work with them through the six-year process. Terra helped negotiate the contracts with all of the partnerships, guided the re-zoning process, worked with the various government agencies to gain approvals and secure funding from both public and private lenders.  The original 91 units were replaced in two apartment buildings at one end of the site on Lot 1; the developer purchased the land and built condos on Lot 3 and with the money from the sale, the Society built a 34-unit affordable rental building for seniors on Lot 2 without any government funding. This building now generates a positive cash flow that is used by the society to acquire more affordable housing units. Because each project phase was financed through a different funding source, it required a high level of cohesiveness and management of the interrelationships by the development team.

Client:

HFBC Housing Foundation (now Brightside)

Location:

2900 Block Euclid St & Horley St Vancouver, BC

Completion:

1993, 1994 and 1995

Area(s) of Expertise:

Development Management

Project Type:

Market and Mixed-Use Housing, Non-Profit Housing

Tags:

developer partnership, new construction, redevelopment, seniors