Vancouver City Council has given the green light to one of the largest commercial development proposals in the city’s recent history. This approval marks a significant step forward for the Mount Pleasant Industrial Area, paving the way for a major mixed-use complex designed to attract innovation and industrial businesses while adding essential community amenities. Key takeaways include a large-scale development combining office and industrial space, concerns raised about restrictive zoning, and a project aiming to meet long-term demand in a strategic location.
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A Closer Look at the Approved Project
The approved development is located on an L-shaped site encompassing 4-36 West 3rd Avenue and 5 West 4th Avenue. This prominent block is framed by West 3rd, Ontario, West 4th, and Manitoba streets, strategically positioned near major transit hubs like Olympic Village and Broadway-City Hall SkyTrain stations, and the future Mount Pleasant and Great Northern Way-Emily Carr stations. It’s also close to key players like the new AbCellera headquarters.
PCI Developments is leading the project, which will feature two mid-rise buildings: an 11-storey tower (182 ft tall) and a 10-storey tower (170 ft tall). The complex will span approximately 480,000 sq ft, with a focus on employment spaces. This includes about 185,000 sq ft of office space on upper levels and a substantial 264,000 sq ft of creative/light industrial space on lower levels.
Beyond core employment uses, the project incorporates 16,700 sq ft for retail and restaurants, aiming to serve the growing workforce in the area. A notable addition is a 14,300 sq ft private childcare facility designed for 37 children, addressing a critical community need within the development.
Google Maps view showing the current site of the large mixed-use development approved in Vancouver's Mount Pleasant.
Developer’s Vision and Market Realities
During the public hearing that led to the unanimous rezoning approval, PCI President Tim Grant highlighted the project’s potential to meet long-term demand for employment spaces in a prime location. He described the development as a potential “strong, desirable anchor for resurgent globally competitive Mount Pleasant,” particularly targeting innovation and urban industrial sectors.
Grant acknowledged the current challenging commercial leasing market, especially for office space, but expressed optimism that a high-quality development like this would be attractive to the types of innovation businesses Vancouver wants to cultivate in Mount Pleasant. The immediate next step following the rezoning approval is to actively pursue these specific types of businesses.
Architectural rendering showing the proposed mixed-use office and industrial buildings for the PCI Developments project in Vancouver's Mount Pleasant.
Zoning Challenges and Industry Concerns
A key discussion point during the approval process revolved around the city’s existing zoning regulations for creative/light industrial spaces. Grant argued that the current definition of allowable uses is overly restrictive and needs to be expanded to accommodate a broader range of businesses. He stated there is “little to no demand” for industrial space above the ground floor under current rules, citing operational limitations imposed by the classification rather than market appetite.
Grant asserted that the current limitations pose a “seemingly insurmountable barrier to project viability” and that overcoming this requires broadening the allowable industrial uses.
Blair Quinn, Vice Chairman at commercial real estate firm CBRE, echoed these concerns. Based on his experience in the area, he told City Council that only a very limited number of businesses, such as certain life sciences firms, fit the current industrial classification. He warned that Vancouver’s restrictions and complexities are driving modern tech and industrial companies to seek locations in neighboring cities like Richmond and Burnaby, where zoning is more accommodating and processes are faster.
Quinn also questioned the necessity of the mandated extra-high 17-ft ceilings for much of the industrial space, particularly for life sciences lab needs. He noted this requirement significantly increases construction costs without providing commensurate value for many potential tenants, making projects uneconomical despite life sciences being a strategic sector.
Street level Google Maps image of the Vancouver site designated for the new large scale commercial development in Mount Pleasant.
Council Acknowledges Concerns and Appreciates Design
City councillors acknowledged the issues raised by the developer and industry experts during the public hearing. Several councillors affirmed that these concerns regarding zoning flexibility and industrial uses would be considered for potential future policy adjustments.
Councillor Mike Klassen highlighted the desire to keep tech sector players in Vancouver, noting that hearing about companies moving to neighboring cities is a concern. He emphasized the growing appeal of the Mount Pleasant area for various forms of the tech sector.
The overall design by architectural firm Perkins&Will also received positive feedback from City Council. The plan includes retaining and restoring the 1910-built, two-storey red brick warehouse on the site, integrating it into the new complex with a vertical expansion. This heritage building will house retail, restaurant, and the childcare facility.
The new buildings feature mirroring architectural designs with terraced decks facing inwards towards a central privately-owned courtyard plaza along West 4th Avenue, activated by retail frontage. Councillor Lisa Dominato praised the design as “quite a beautiful building” that adds value to the area, appreciating the inclusion of office, industrial, childcare, and heritage elements.
Rendering depicting the modern architectural design of the approved PCI mixed-use development in Vancouver, including facade details.
Four underground levels are planned to provide 405 vehicle parking stalls and 201 secured bike parking spaces.
The project achieves a floor area ratio (FAR) density of 6.62 times the size of the 72,500 sq ft site, with at least 3.0 FAR dedicated to industrial space. As part of the approval, the developer will provide a community amenity contribution (CAC) of approximately $2.5 million in cash, plus $11.15 million in development cost levies and $950,000 for public art.
View showing the proposed courtyard and retail frontage of the large mixed-use project approved by Vancouver City Council.
Broader Trend in Mount Pleasant
This large-scale approval follows unanimous council support earlier this year for two other significant mixed-use creative/light industrial, office, and retail projects nearby within the Mount Pleasant Industrial Area, albeit smaller in scale.
One project approved is at 43-95 East 3rd Avenue, a Gensler-designed building by Atelier Capital Partners. It includes 76,000 sq ft industrial, 62,000 sq ft office, and 8,000 sq ft retail space.
Artistic rendering of Project Phoenix, another approved mixed-use commercial development nearby in Vancouver's Mount Pleasant.
Another approved development is planned for 210-220 West 6th Avenue and 2224 Alberta Street. This joint venture by Nicola Wealth Management and PC Urban, designed by Proscenium Architecture & Interiors, features 72,000 sq ft industrial, 90,000 sq ft office, and 4,000 sq ft retail space, incorporating a retained heritage building.
Rendering showing the design for the approved mixed-use industrial and office building at 2224 Alberta Street in Vancouver.
What’s Next
The approval of this significant PCI project signals Vancouver’s commitment to fostering employment growth in the Mount Pleasant area, particularly in the innovation and industrial sectors. While the rezoning is approved, the developer still needs to secure tenants, a process highlighted as potentially challenging given current market conditions and zoning limitations. The city council’s acknowledgment of the zoning flexibility issue suggests potential future policy discussions that could impact not just this project but future developments in the area. Monitoring how the developer attracts businesses and if any policy adjustments are made will be key indicators for the future of this vibrant industrial hub.
