A new rental property has been approved by the North Vancouver City Council at 133 East 4th Street in Lower Lonsdale, which is currently the Gospel Hall Church.
This new project is being developed by Three Shores Development and will house 23 rental homes, three retail locations and space for a 2,550-sq ft childcare facility for up to 24 kids. However, the draw to this is that there is no parking for residents.
Integra Architecture and Durante Kreuk Landscaping are the design firms helping with the project.
According to Daily Hive Urbanized, “Developing small-scale properties of any kind, particularly multi-family is extremely challenging given the cost inefficiencies to do so,” said Mehdi Shokri, the principal of Three Shores Development. “We are fortunate that given the close proximity to a larger project next door that we could make the economics of taking on a project of this size work. Outside of costs, the timing to entitle and go through the permitting process adds further risks that make taking on such projects not feasible.”
However, the building will have two surface parking spots for the childcare facility. During the project planning, analysis found that there are 252 on-street parking spaces within one block for residents to park at.
“This approval does not intend to force people to have to stop driving cars but give options to those who may choose not to or value a lifestyle that aims to live near alternative modes of transportation and have convenient amenities within walking distance that allows this choice to be feasible,” said Shokri. “We are committed to building and owning rental housing on the North Shore because we fully recognize that the supply needs to be significantly increased in order to be able to address the low vacancy rates, which by any means are not healthy when trying to address affordability.”
Shokri stated that Three Shores Development will also be providing enhanced bike parking, a bike repair stand and a wash station, and $50,000 to the city towards upgrading the 4th Street bike lane.