Cressey Development Group

Cressey Development Group

June 05, 2012 16:10 ET

Cressey Development Group Bringing New Mixed-Use Residential and Retail Offering to Arbutus Ridge

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 5, 2012) - Vancouver-based Cressey Development Group has proposed a five-storey mixed-use development to be situated at the northwest corner of West 16th Avenue and Arbutus Street.

The planned building will offer 52 dwellings and approximately 20,000 square feet of retail space, as well as a public green space to be maintained and operated by the Parks Department. The subject property, which Cressey acquired in June 2011, is presently improved with some 55,000 square feet of commercial space.

Cressey is committed to making further improvements to the Arbutus Ridge community and is taking measures to maximize the transparency of the development process.

Currently, the developer is working with City of Vancouver Planning staff on development plans for the site, including the location of building parking and loading access. A traffic analysis study is already underway to assess traffic patterns and volume, and to confirm the appropriate locations for each of the various ingress and egress points and service functions for the proposed development.

In addition, Cressey is seeking counsel from the City's Urban Design Panel to ensure the building aesthetic and physical stature is in compliance with the current zoning for the property and the pre-established design guidelines.

Since submitting the development application in May 2012, the longtime Vancouver developer has actively listened to concerns from local residents and is eager to work in tandem with the City to create a project that will benefit the entire neighbourhood.

"We have reached out to the Kitsilano Arbutus Residents' Association in the hopes that we can join their discussions surrounding the Arbutus Ridge Development," said David Evans, Development Manager for Arbutus Ridge.

"Our goal is to understand their concerns and work towards an effective solution that will meet the needs of both the City and the community."

The mixed-use development plans to add amenities to the community, including a grocery store at ground level and public green space with benches and landscaping.

About Cressey Development Group

Since 1969, Cressey has been building multi-family residential projects affording them over 40 years of experience. With over 200 projects to date, the company has earned a reputation for constructing landmark residential, retail, office, hotel, industrial and mixed-use projects throughout British Columbia, Alberta and Washington State.

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