Nicola Wealth Real Estate is moving forward with a proposal for twin rental towers at 2111 Main Street in Vancouver’s Mount Pleasant. This site, once the City Centre Motor Hotel and later the City Centre Artist Lodge, was acquired by Nicola Wealth in 2021 for $60M, though its current assessment is approximately $43.97M.
The project involves rezoning the site from industrial to comprehensive development. The proposed 24-storey North Tower will have 230 units, and the 22-storey South Tower will have 216 units, totaling 446 rental units, with 20% designated as below-market rentals. The project also includes 14,710 sq. ft. of retail space, 10,321 sq. ft. of outdoor amenity space, 5,000 sq. ft. of arts and cultural space, and 4,841 sq. ft. of privately-owned public space. Additionally, 197 vehicle parking spaces and 1,065 bicycle parking spaces are planned in a four-level underground parkade.
The towers are designed by MCMP Architects, emphasizing a blend of art, homes, and community. The proposal highlights activating retail spaces and fostering a community-friendly environment.
The development is being considered under the Broadway Plan. Public feedback on the rezoning application is scheduled from July 3 to July 16.
