Proposed Expansion
In July 2012, Aquilini Investment Group, the owner of the Rogers Arena and the narrow strip of surrounding land, received approval to build three new highrise towers around the existing arena. The towers would consist primarily of 614 rental units and would be the largest rental project built in Vancouver during the last 30 years. The 650,000-square-foot project includes 753 parking spaces and 216,000 square feet of commercial space. Aquilini had originally planned to build the towers with condo units. The switch to rental units provides the City with much-needed rental units. However, The City will lose about $35-million in developer contributions to community facilities in the Northeast False Creek area that would have been collected if the buildings had been condos.
Read more about this topic: Rogers Arena
Famous quotes containing the words proposed and/or expansion:
“It looks as if we may be presented with a kind of vast municipal fire station.... What is proposed is like a monstrous carbuncle on the face of a much loved and elegant friend.”
—Charles, Prince Of Wales (b. 1948)
“Artistic genius is an expansion of monkey imitativeness.”
—W. Winwood Reade (1838–1875)