Owners of the much-watched White Spot restaurant property in the West End across from Coal Harbour are proposing to build two high-end condo towers, according to a rezoning application filed with the City of Vancouver.
In late 2017, Carnival Group International, a Chinese company known for building a giant resort in Qingdao on China’s east coast, partnered with Vancouver’s ASPAC Developments to buy two-thirds of the block on West Georgia where it heads from downtown toward Stanley Park.With planned zoning for just under 398,000-sq.-ft. of residential space, the sale had an expensive figure of $615 per build-able square foot, and expectations that any condos would be priced accordingly.
The White Spot property had been owned by Shato Holdings, which was founded by Peter Toigo and is now run by his sons. Shato had preliminary designs for two towers of 33 and 39 storeys and some 350 condos, but never went through a rezoning process. Pelli’s design includes more than 100 additional condo and townhome units than envisioned by Shato’s plans. It calls for 200 in each 38-storey tower and then 55 in a four-storey “podium” that connects the two. The application is aiming for an increase in total floor area to 433,657 sq. ft.
Oh goody. More condos that nobody but the 1% and foreigners can afford.
NO WAY! REALLY