Back during the summer of 2020, New York-based New Blueprint Partners, LLC was in the process of completing the acquisition of the Vancouver Innovation Center (VIC), located on what was previously the Hewlett Packard campus in East Vancouver.
Although developers of the site have met some challenges and experienced some small delays, the project is moving ahead and the hope is that they will be able to officially break ground on the project in 2022.
The Vancouver Business Journal was able to get some information on what is currently going on with the VIC project through a Q & A with Ron Schinik and Marc Esrig of New Blueprint Partners.
VBJ: First of all, let’s start off with the basics of the development/project. What are the major plans for the site?
NBP/Rabina: The Vancouver Innovation Center site already encompasses 700,000 square feet of office, climate-controlled flex and industrial space of which 260,000 square feet is currently available. It’s a campus-like setting inclusive of common areas, a fully equipped gym, interior courtyard, basketball court and gathering spaces both inside of and surrounding the campus. The diversity of spaces, we believe, is unparalleled in the Vancouver marketplace.
As for major plans, the current buildings are the linchpin for the future mixed-use development, which will include residential dwellings, additional flex and office buildings and a town center with both residential and commercial components off of 192nd Street. Our objective is to create a healthy living environment, so the whole site will be seamlessly connected with biking paths, walking trails and access to the 14 acres of forested area in the northeast corner. The 20-minute neighborhood is a clear trend and for good reason. Growth-oriented companies and their employees desire vibrant mixed-use neighborhoods, and this project will bring that to Vancouver.
VBJ: Where are you currently in the process for this development? What does your hopeful timeline look like?
NBP/Rabina: The team led by New Blueprint Partners and Rabina are currently in the process of re-entitling the 180 acres to commence build-out of the mixed-use project. We have developed a Master Plan for the site that indicates the various uses and open spaces as well as renderings that bring that plans to life. As of today (Feb. 4), we are working through the nuances of the development agreement with the city planners and the Planning Commission and we hope they will see the benefits of our proposed development to the City and the surrounding community over our as-of-right-now site plan of light industrial development. We hope to have public hearings by the end of February and beginning of March and approvals shortly thereafter, which would enable us to break ground in 2022. Nonetheless, in the end we will pursue either plan.
VBJ: Great Western Malting has committed to leasing 24,426 square feet of office space in the Vancouver Innovation Center. Do you currently have any other companies who have committed to leasing space?
NBP/Rabina: We have had great leasing activity and are close to reaching terms on several leases. We are thrilled that a company such as GWM has decided to make The VIC the home for their disparate real estate offices that they currently occupy. We would also note that numerous other companies consider The VIC home, including PharMerica, Forward Greens, Pulse Electronics and numerous other firms.
VBJ: What are your goals for what the Vancouver Innovation Center specifically will be and will bring to the community?
NBP/Rabina: We want to open these 180 acres – which have been closed to the public for 30 years – into a vibrant area for Vancouver. We hope it’s a place where the community can enjoy the forested area, locally sourced restaurants and shops. Ultimately, all of these attributes will not only serve the community but attract cutting-edge companies and jobs and provide an incredible ecosystem within East Vancouver.
VBJ: Do you have any current cost estimates for this development? Ball park?
NBP/Rabina: It’s extremely hard to say but our partners expect that the investment in Vancouver will be north of $300 million over time.
VBJ: Have you been met with any major obstacles that have slowed down the timeline for this development at all? How has COVID impacted this (if at all)?
NBP/Rabina: The timeline has been pushed out due to the complexity and size of the project. With 180 acres and numerous types of uses onsite, providing a clear understanding of our intentions to the City has been a challenge. It’s big and impactful and we want to make sure that all stakeholders are enthusiastically on board. As for COVID – that’s another story altogether. When we (New Blueprint Partners) went to market to partner up with an entity, literally no one was doing a thing – no flying, no discussions – as, if you remember – we were pretty much on lockdown. That’s a story for the next issue.
VBJ: Do you know specifics of how many jobs this new development might bring to the area?
NBP/Rabina: Yes, we expect to have 6,000 jobs onsite when all is said and done.
