Chard Development says it is making the change for its East Broadway project in response to the market's questions about the future of office real estate and the clear need for rental units.and has been dubbed 8 E Broadway, according to renderings and application documents published along with the rezoning application on Tuesday.
The site is currently zoned for commercial and retail uses, thus, Chard is seeking to rezone the site to CD-1 in order to allow for residential use. Now, the proposal is for a 14-storey building that would include 152 market rental units, with a suite mix of 55 studios, 42 one-bedrooms, 38 two-bedrooms, and 17 three-bedrooms.
"Our team is committed to providing the right product in the right place at the right time," Chard Development said in ain late August. "We believe this change to rental housing — with community-serving retail at grade — serves a greater purpose than the previously proposed office usage, particularly given the impending completion of the SkyTrain Millennium Line extension project along Broadway.
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