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Luxury tower s cantilevered units will have Fifteen Fifteen residents living on the edge downtown
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Inside Fifteen Fifteen by Ole Scheeren in Vancouver
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Tower over 70 storeys proposed for Kingsway and Willingdon corner in Burnaby
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The federal government’s contribution is $45.8 million from the National Housing Co-Investment Fund, with $18.5 million as a contribution and $27.3 million as a repayable loan.
The provincial government, through BC Housing, is providing $33.6 million in funding and an annual operating subsidy of up to $1.8 million over the 60-year lifespan of the building a total of $141 million.
The not-for-profit Vancouver Chinatown Foundation (VCF) initiated and spearheaded this project, and will provide $30 million from community fundraising. This brings the project’s total construction cost to just under $110 million.
Site of 58 West Hastings Street, Vancouver. (Google Maps)
Site of 58 West Hastings Street, Vancouver. (WT Leung Architects/Vancouver Chinatown Foundation)
The Army & Navy’s former complex uniquely punctures through the city block, fronting both West Cordova Street and West Hastings Street.
The larger north parcel at 36 West Cordova Street, with a four-storey building, containing over 100,000 sq ft of total floor area, was first built in 1893. It still boasts a heritage brick frontage, spanning a considerable street frontage length of 245 ft (75 metres).
However, the south parcel, a 1913-built, five-storey building at 15 West Hastings Street with about 35,000 sq ft of total floor area, has lost all of its heritage value over the years due to decades-old retrofits that removed the original facades. Currently, this smaller building is leased to the municipal government and BC Housing for use as a temporary homeless shelter with a capacity for up to 60 people. The shelter opened this past spring as part of a broader strategy to end homeless encampments.