Wesbild is looking to construct more than an industrial complex with its Marine Landing project. It wants to create a collaborative business community in South Vancouver.
The project would be Canada’s largest stacked mixed-use industrial project. The design features a twinned six-storey stacked industrial and office complex filled with flexible workspaces ranging from 600 to 34,000 square feet. Wesbild is developing and marketing Marine Landing with KingSett Capital, Rennie and Colliers.
As the area is zoned for light industry and office space, Marine Landing includes oversized elevators, extra-wide corridors, at-grade ramps, wide loading bays, spacious delivery facilities to make logistics easier with more than 50 oversized parking stalls and 395 regular sized parking stalls, including 42 EV charging stations.
“We identified an opportunity to stretch what light industrial and office space can be and to push that use upwards in a vertical form,” said Lilian Arishenkoff, Wesbild’s senior vice-president of development.
She explained the project’s density also created the opportunity to include a wide range of amenities like a rooftop patio, large flexible lounge space for meetings, events and socializing, a full kitchen, end-of-trip cycling facilities and more.
“This is one of the pinnacle components that jives with Wesbild’s operational model,” said Arishenkoff. “We have always focused on creating community and this project brings all those community components into one place. It allows a variety of businesses to come together so new partnerships and synergies can evolve.”
The new complex is being built as industrial vacancy reached an all time low of 1.0 per cent for the Greater Vancouver region in the first quarter of this year, according to Colliers. Meanwhile, asking rental rates for industrial space in the region reached a historical high of $14.09 per square foot, a rate that has climbed 7.5 per cent year over year.
Arishenkoff noted the project has the unique opportunity for businesses to buy into a strata facility that can grow with them.
“People who want the opportunity to control their own future can buy space and own it for the long run,” said Arishenkoff. “They can build equity in the project and have a greater stake in the community as an owner.”
The developer has already seen interest from breweries, design studios, tech firms, ecommerce companies, bakeries and more.
Construction on Marine Landing is scheduled to begin next year and wrap up in 2024.
Until then, prospective buyers have been touring the project’s presentation centre on Manitoba Street which depicts many aspects of the design.
“We are really excited about this project,” said Arishenkoff. “The demand and interest has been phenomenal. I’m excited to take this project forward, build it out and build a community.”
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