CD-1 Rezoning 1402-1462 Burrard Street, 1401-1451 Hornby Street and 900 Pacific Street — main motion to permit a mixed-use development of a 40-story and 54-story rental development with 1,089 secured rental units — Public Hearing, February 3, 2026
← Public Hearing February 3, 2026
Summary
- Proposed rezoning city-owned land at Burrard/Hornby/Pacific from an older comprehensive development district to a new CD-1 to allow two rental towers (54 and 40 storeys, 1,089 units, ground-floor commercial) delivered through the Vancouver Housing Development Office under the Rental Housing on City-Owned Lands Public Benefits Pilot Policy.
- Key public benefits cited: ~$28–29.8 million in DCLs and public art; 1,089 secured market-rental homes (35% two-bedroom-or-larger); long-term non-tax revenue estimated to generate approximately $1 billion over 35–40 years; significant public realm improvements including terraced steps connecting Burrard Bridge to the waterfront.
- Concerns raised included the absence of an approved financing vehicle (the government business enterprise was voted down), uncertainty about construction timing given current market conditions, one neighbour's worry about laneway safety, and Councillors Orr and Fry's objections that publicly owned land should deliver housing affordable to median-income Vancouverites rather than market rents.
- Supporters argued the rezoning is worth securing now to boost the land's value on the city's balance sheet, create flexibility for future financing arrangements, and avoid further cost escalation; they compared the model to UBC's endowment-land approach and noted it could fund community infrastructure without raising property taxes.
- The project is 100% rental secured by a housing agreement for the longer of 60 years or the life of the building; no strata conversion permitted.
- Carried — Councillors Fry and Orr opposed; Councillor Bly absent. Item 4 (a companion rezoning on the same site block) recessed to February 10, 2026 at 3 p.m.