by Jake McGrail
(click images to enlarge)

AN AMBITIOUS REDEVELOPMENT PROPOSAL
Shermanor Apartments at 1150 Barclay

Shermanor is a three-storey co-op apartment complex at 1150 Barclay Street. Built in 1948, the building contains 19 units.

Back in 2017, the previous owners of the complex sold it to Vancouver-based real estate company PC Urban for $18 million, but to this point the building hasn’t been redeveloped. But it’s not for a lack of trying. Recently, for a second time, PC Urban has submitted a development proposal to the city.

Previously, in 2018, the company pitched an 11-storey strata condo tower. Compared to some other proposals put forward for tall towers in the West End, this one could be seen as somewhat restrained. Despite that, the project never moved forward.

**The Original 2018 concept of an 11-storey condominium tower.**

Six years later, PC Urban’s new proposal is radically different from the original. The theoretical new tower is much bigger, at 20 storeys. It’s also entirely rental as opposed to strata, with 152 units, with 20 per cent being below-market. The building would include a 900 square foot designated “community space” that could be used for a variety of functions.

**the 2024 revised concept of a 21-storey rental housing tower.** *(Imaages from Dialog/PC Urban | Musson Cattell Mackey Partnership/PC Urban)*

This site is not the only one where developers have pivoted from strata to rental units in the last couple years. In fact it’s very similar to The Hampstead, the condo complex on Cardero Street that we covered in last month’s issue.

One potential reason for these shifts in unit type is the fact that building rental instead of strata means developers get to pay much lower Community Amenity Contributions (CACs) to the city, which are used to fund various community projects and initiatives in the West End. Those CAC rates can run into the tens of millions of dollars for large-scale strata projects.

Another important note for the redevelopment proposal at Shermanor is that it doesn’t actually comply with all of the city’s zoning policies, a fact that is noted on the City’s “Shape Your City” page for the application (here).

That may mean it’s unlikely this proposal will be approved as presented, and it might take some back and forth between city and developer before any redevelopment could move forward.