VANCOUVER—A new multi-storey industrial development is in the works for Vancouver’s False Creek Flats area.
The facility is being developed by Alliance Partners for a 1.5 acre site at the southwest corner of Clark Drive and East 1st Avenue. The 173,000-square-foot, five-storey commercial building called Frameworks will offer strata industrial and office for 85 small to medium sized businesses close to the city centre.
Designed by TKA+D Architecture, Frameworks will be a 71.7-foot-tall, horseshoe-shaped building with parking underground for 209 vehicles.
“With less than 0.4 per cent industrial vacancy now in Metro Vancouver, we have seen skyrocketing lease rates and this ownership opportunity allows businesses to control their operational costs while building equity in an unparalleled location on Great Northern Way,” says Ryan Kerr, principal with Avison Young, in a statement. “Nothing like this has been designed in this location, and there’s so much demand from businesses that want a foothold close to the downtown core. There’s just not enough industrial and office strata in the city centre.”
Frameworks will be the first stacked industrial project in the Flats with ramps for the first two floors of industrial space, providing direct access to loading for all first and second floor industrial users, in addition to freight elevators. With office strata on the top two floors, there will also be significant outdoor and patio space and courtyard amenities.
Frameworks units start at 1,000 square feet for office and 1,300 square feet for industrial, all with flexible layouts and customized floorplates. Pricing for available units starts at $725 per square foot. The project is expected to be complete in 2024, with construction starting early in 2022.
Alliance’s first stacked industrial project in Richmond, Vanguard, is now under construction and will complete in Q4 2022.