VANCOUVER – Vancouver’s downtown could be getting a new tower. Cadillac Fairview announced it has submitted a development permit application for its proposed office tower, The Crystal at Waterfront Square, which will be located at 555 West Cordova.
The key piece of tower’s new design is the reconfiguration of the building, which minimally touches the overall footprint of the current site. The reconfiguration allows for 85 per cent of the current surface parking lot to be repurposed as an open civic square, so the community can still view the harbour and mountains.
The design also includes sustainability commitments including Carbon neutral operating systems, no new parking stalls, direct connectivity to transit, bicycle storage, shower/change rooms and onsite maintenance facilities. If approved, the tower will target WELL and LEED Platinum certifications
The announcement comes weeks after the company declared its intention to introduce a world-leading, luxury lifestyle hotel brand to downtown Vancouver’s CF Pacific Centre. Including today’s announcement and the concurrent redevelopment of the mall’s rotunda (located at West Georgia and Howe Streets), the company is investing over $600 million in the city of Vancouver for employment and commercial purposes.
“The Crystal at Waterfront Square is another example of Cadillac Fairview’s commitment to designing and operating a world-class building that contributes to a vibrant and sustainable city,” said Tom Knoepfel, senior vice president, western portfolio, Cadillac Fairview. “Cadillac Fairview is and has been a long-standing developer, owner, and manager of both retail and office properties in Vancouver and we’re proud to be carrying on that tradition with this landmark development that will bring to market much needed class A office and commercial space in downtown Vancouver.”
Subject to municipal approvals, the developer aims to start construction in 2020 and looks forward to working with the City through the application process for The Crystal at Waterfront Square.