Real Estate News 
The Workshop by boutique developer Mondivan Group has been reported as almost fully leased with their recent finalization of negotiations with a large local company.
Mondivan Group, in partnership with Perkins + Will architect, is nearing completion of the ~56,500 square foot office and light industrial building. The project, referred to as “The Workshop”, is located in Mount Pleasant one block West of Main Street at 161 East 4th Avenue.
With an estimated completion date in Q1 2022, this I-1A zoned property in Vancouver’s rapidly growing neighbourhood features 8 levels of light industrial and office space, with a unique stacked mezzanine overlooking the ground floor and outdoor patios on the 4th floor and the roof.
Other key details include:
- 75 underground parking stalls
- 10-minute walk to Main Street Science World Skytrain Station
- A building height of 110 ft
- A floor space ratio of (FSR) of 5.0
- A site size of 11,660 sq. ft.
Mount Pleasant’s I-1A Zoning and Development Activity
The I-1A zoning spans 3 city blocks from East 2nd Avenue to East 5th Avenue between Quebec Street and the North-South alleyway half a block West of Main Street. The City of Vancouver created this zoning district by expanding on the existing I-1 zoning in Mount Pleasant, allowing for larger/taller buildings (5.0 FSR up from 3.0 FSR). This supports the increased demand from light-industrial businesses with significant research and development activity. The I-1A zoning district also allows for digital entertainment and information communication technology uses.
The building is located across the street from Westbank’s M2 Main Alley development (also located in the I-1A zoning district) which is nearing completion – estimated for Q1 2022. M2 will be the newest addition to the Main Alley Campus, which will comprise 4 buildings and a total of 500,000 square feet of workspace once complete.
The Workshop is one of the many new buildings in Mount Pleasant that are either proposed or under construction. With Vancouver’s growing technology and health sciences industry, and the new Broadway Subway Project, the area is fast becoming a hub to support Vancouver’s burgeoning talent pool.
