Marine Gateway Gets Major Tenant
What's the secret to selling out your condos and office? Andrew knows.
That'd be PCI Developments president Andrew Grant (left). He's seen his company's Marine Gateway lease 50% of its office space to Westport Innovations, sell out of its condos, and fill 90% of its retail. Now that Westport (which engineers natural gas engines and vehicles) is anchoring, he expects an uptick in office lease interest. The leasing success, he says, is a testament to both transit access and sustainability. Snapped with Andrew: Vancouver mayor Gregor Robertson and Westport's Karen Hamberg.
An 11-screen Cineplex is one of the tenants on the retail side. A sign of creativity on PCI's part is that Westport will be free on occasion to hold company presentations in the movie theatre. "Office parks that are one dimensional can't compete," Andrew tells Bisnow. Total office space is 240K SF.Â The project's total cost is $370M. (Almost enough for one movie ticket.)
The arrival of the Canada Line in 2009 encouraged the City of Vancouver to take innovative approaches to transportation and land-use planning along the Cambie Corridor, enabling a mix of residential, commercial, and retail close to major transit hubs.