Real Estate News 
A major development is underway which will change the style of Mount Pleasant, as Strand Development has recently collaborated with MCMP Architects to construct a brand-new concept for the neighbourhood to be located at 302/ 360 West 2nd Avenue. The new Office building will be known as The Prism, and will be among the first developments to capitalize on recent zoning changes from the City of Vancouver which allow for a larger building to be constructed. This will allow for more jobs to be based out of Mount Pleasant and will contribute to Vancouver’s newest business hub.
Strand Development was particularly instrumental in discussions with the city to not only increase the allowable density in the I-1C Zoning district from 3.0 Floor Space Ratio (FSR) to 6.0 FSR, but they have also permitted General Health Care companies to operate within the neighbourhood.
The Prism will be developed on a lot that is 18,722 square feet in size, which equates to over 100,000 SF of commercial space with 37,000 SF classified with the City as Production space and the nearly 75,000 SF to be classified as General Office.
In early 2021, the City of Vancouver announced they would be adjusting the zoning in the Mount Pleasant neighbourhood to allow for increased density along West 2nd Avenue while still protecting the light industrial focus of the neighbourhood.
The Mount Pleasant Employment-Intensive Light Industrial Rezoning Policy Guidelines, better known as I-1C will encompass 32 different land parcels along West 2nd Avenue and will permit a maximum building height of 152 feet.
One reason why many companies are deciding to relocate to Mount Pleasant is the easy access to rapid transit as well as the CoV’s recent decision to target daycare users within the new zoning district.
As more and more companies move away from the Downtown Core and Vancouver Periphery, including AbCellera’s notable expansions into 2211 Manitoba Street and 150 West 4th Avenue, and Best Buy’s recent commitment to 425 West 6th, the City of Vancouver has been wanting to encourage and support these businesses by supporting developers to increase the supply of available office space.
