A developer has started a process that would see an overhaul of Capilano Mall, one of the largest development sites in North Vancouver.
City staff have submitted a related preliminary report for an amendment to the official community plan, which will be reviewed by council at a regular meeting on Monday (June 12).
Staff are recommending that they be directed to process the amendment application with QuadReal Property Group and guide the creation of a master plan for the project, as well as an approach to recover costs.
Talks of redeveloping the 53-year-old mall began in 2019, when QuadReal carried out initial consultation with local residents and businesses. At the time, the idea of mixed-use redevelopment was raised, which would follow a trend of residential towers going up at other Lower Mainland malls, including Park Royal, Oakridge Park and The Amazing Brentwood (previously Brentwood Town Centre). The new report makes several mentions of housing, alongside a list of other needs to be addressed by the potential redesign.
If the proposal passes the current pre-consultation phase, that would start the process to create a comprehensive master plan for the site. Creating that master plan would involve “extensive” consultation with community members and other stakeholders to identify appropriate land-use designations and parameters to guide future development.
Planning won’t change land-use designations or zoning of surrounding properties in the neighbourhood, staff said in the report.
“Rather, these planning tools will evaluate how the redevelopment fits within the context of this area and how the Capilano Mall site can deliver on community amenities, employment, housing, environmental sustainability, public realm, transportation improvements, and other city priorities,” reads the report.
Capilano Mall first opened in 1969, and underwent expansions and renovations in the ’70s and ’80s. Sears, one of its anchor tenants, shuttered when the company went bankrupt in October 2017. That space is now being retrofitted to host B.C.’s largest indoor bike park.
QuadReal is the property management/development arm of the British Columbia Investment Management Corp., a public employee-owned pension investment firm.
