Capilano Mall’s Big Makeover
Capilano Mall, a staple of North Vancouver since its opening in 1967, is undergoing a significant transformation that will reshape the area's urban landscape. QuadReal Property Group, the mall's owner since 1999, has unveiled plans to redevelop the 16.5-acre site into a mixed-use community that combines residential, commercial, and recreational spaces.
Key Features of the Redevelopment
- Residential Units: The plan includes the construction of approximately 3,100 homes across 11 towers ranging from 12 to 40 storeys. Notably, 30% of these units are designated as rental housing, with 10% allocated as mid-market rental units, addressing the growing demand for diverse housing options in the region.
- Commercial and Retail Spaces: The development will feature around 152,000 square feet of retail and commercial spaces, revitalizing the area's commercial landscape and providing new amenities for residents and visitors alike.
- Community Amenities: Plans include a new community centre spanning 20,000 to 30,000 square feet and a 1.5-acre public park, enhancing recreational opportunities and fostering community engagement.
Community Engagement and Planning Process
Public engagement has been a cornerstone of the redevelopment process. In 2019, QuadReal initiated consultations with North Shore residents to gather input on the project's vision. After a pause due to the COVID-19 pandemic, the planning process resumed in 2023, with renewed concept plans presented to the public in late 2024. The City of North Vancouver is actively involved in the planning process, with QuadReal expected to submit a detailed Official Community Plan (OCP) amendment application this Spring 2025. Public hearings and council decisions are anticipated to follow later in the year, paving the way for construction to commence in the near future. Stay informed on opportunities to share your input with QuadReal and the City of North Vancouver through the City's development page. Click here >>.
Impact on the Local Real Estate Market
The redevelopment of Capilano Mall is poised to have a profound impact on North Vancouver's real estate market, particularly those communities along the Marine Drive corridor including Mosquito Creek and Harbourside:
- Increased Housing Supply: The addition of 3,100 homes will provide much-needed housing options, offering a range of choices for buyers and renters.
- Enhanced Amenities: The introduction of new retail, commercial, and recreational facilities will enrich the community's offerings, making the area more attractive to potential residents and investors.
- Value Appreciation: Historically, large-scale developments have led to increased property values in surrounding areas. As the Capilano Mall site transforms, neighboring properties may experience value appreciation due to improved infrastructure and amenities.
Matt's Final Thought
The Capilano Mall redevelopment is a big step toward modernizing this part of North Vancouver, bringing much-needed housing, better retail, and more community space. But with 3,100 new homes planned, it’s fair to wonder - can Marine Drive handle even more density and traffic? That stretch is already a headache at rush hour, and without serious transit improvements, congestion could get worse. The city will need to address this with better bus service, bike lanes, and smart traffic planning. On the bright side, a more walkable, mixed-use community could mean fewer people relying on cars for daily errands. It’s an exciting project, but like any major development, it’ll come with growing pains. If you want a say in how it takes shape, make sure to stay engaged with the city’s planning process. Click here to share your input.
*Image Source: QuadReal Property Group