REM 420 - Activity 4

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School

Toronto Metropolitan University *

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420

Subject

Geography

Date

Jan 9, 2024

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docx

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Uploaded by goldenegg02

Woodwards Case Study: (Dina) Name of project: The Woodward’s Redevelopment Summary: The Site: - Located in the Gastow area of Vancouver (on the east side) used to be the former Woodward's department store - Consists of office space, 2 new residential buildings, non market housing units, new educational and cultural space for Simon Fraser University, retail space and a daycare - Built on 2.32 acres of land - Near to the center of Downtown Vancouver and also a popular retail street for tourists. - It's notable because it lies where three city street grids from areas come together, resulting in the street angles and giving the buildings a unique look. Development process: - The Woodworks neighborhood was in need of a revitalization as it is located in the heart of the east end of the city. - The city had to acquire a request for proposal (RFP) & a request for qualification (RFQ) as the area was severely lacking amenities such as drug stores, grocery stores, banks, low income housing etc… - The woodwards RFQ was granted to 3 teams that needed to submit 2 proposals where one must include a space from the Simon Fraser’s new culture and art building - The final competition was narrowed to 3 proposals from reputable vancouver developers and an architect partner - In the end, the Westbank/Peterson proposal to add a tall tower, social housing, retail space and a university space was awarded the rights - The city and the developer made sure social housing was provided so that gentrification would not drive out low income groups in need of housing Design: Woodwork is designed and planned with ideas of a mixed-use, urban development project. The history of the site was an important consideration for the developers and designers. And with keeping that in mind, 2.32 acres were designed spatially whilst preserving the history of it. It has 5 different buildings each serving its own purpose: 1. Atrium and pedestrian pathways - This 10000 sq ft atrium is designed to make public spaces attractive and the complex permeable.

2. The W43 condominium building - the tallest building of them all is of 407 sq ft that houses 366 home owners. Because of its triangular design it has become the most prominent building and a landmark for the neighbourhood. 3. The W32 Condo/mixed-used building - Of all the buildings it is the most complex because it has retail shops and offices and different entrances for residents for condominium residents. 4. Hastings Building - Third major building, including retail space and SFU campus space with different interior designs. 5. Heritage Building - The fourth major building which was restored which also includes retail and office space. Financing 352.5 Million total project cost Owners include: - Westbank and its partner Peterson Investment Group,(41.4 million) - The BC government and SFU (62.5 million for the SFU building) and BC also added 43.6 million for the social housing component. - The Canadian government also provided a construction loan of 205 million - 7 million of underground space - 27.5 million for delivering city office building space, the atrium and public spaces, and demolition and remediation - municipal government negotiated a deal for 5 million Sustainable features Sustainable building concepts are utilized throughout. The centralized steam generation plant, local and recycled material sourcing, heat scavenging and optimized air-cooled fluid coolers are among many of the site’s energy efficiency features. With the expansion of the West building, the Vancouver Convention Centre is now one of the largest structures in Canada. It is also widely recognized as one of the most sustainable and environmentally friendly convention centres in the world. It extends four city blocks with a footprint of 1.1 million square feet. The facility has many sustainable features including a sea water heating and cooling system, a six-acre green roof and an on-site waste water treatment facility that has reduced potable water use by 72.6%. Marketing and Management: Due to effective marketing of the condos, Woodward was able to successfully generate a large sum of revenue and sell condos within a few hours. - Marketing campaign was held with the line “ Be bold or move to Serbia”, - Pricing Strategy- Woodward also offered reasonable pricing , below what many businesses were offering at that time, which increased demand and resulted in a successful campaign. - Place Strategy- Woodward built the condos in downtown Vancouver, where many residents worked close by and had an option to walk to work. Moreover, residents had easy access to transit.

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