Fresh off of a brand name refresh, Vancouver-based Peterson is now advancing among its largest organized projects to date, according to a new rezoning application released by the City of Vancouver last week.The subject website is 605-695 SE Marine Drive, situated at the northwest corner of the intersection with Fraser Street. The L-shaped website is presently occupied by a big apartment building, referred to as Marine Balcony, which extends up Fraser Street to E 65th Opportunity. The property is a single parcel that BC Assessment worths at $31,874,000 in its latest evaluation, and 605 SE Marine Drive is held by Peterson under Fraser Marine Drive Holdings Inc.The south side of SE Marine Drive is greatly commercial, while the north side is residential and/or retail. Although the area is serviced by buses, the closest SkyTrain station is the Canada Line’s Marine Drive Station, which is a nine-minute bus ride or 25-minute walk away.The site has actually been zoned CD-1(Comprehensive Development)considering that 1966, and Peterson is now seeking to rezone it to a new CD-1 zone in order to allow for the proposed height, density, and modification in usage.< img src="// www.w3.org/2000/svg'%20viewBox='0%200%201772%201588'%3E%3C/svg%3E "width="1772"height="1588"alt=""/ > The Marine Terrace homes at 605 SE Marine Drive.(MCMP Designers, Peterson )For the site, Peterson is proposing a 29-storey West Tower at the corner of SE Marine Drive and Poplar Street, and a 34-storey East Tower at the corner of SE Marine Drive and Fraser Street that would reach an optimum height of 391 ft. The project has actually an overall proposed density of 9.2 FSR.The domestic component consists of 652 rentals, split between 499 market rentals and 153 below-market rentals– approximately 23%of the units. The 652 systems have an overall suite mix of 45″ micro-studios,”206 studio units, 162 one-bedroom units, 171 two-bedroom units, and 68 three-bedroom units.The 29-storey West Tower would house the 153 below-market rental units– in the structure podium that extends along SE Marine Drive– plus 180 market rental units
above, while the 34-storey East Tower would house 319 market rentals and have a podium that extends along Fraser Street. The towers will not be physically connected.The proposal likewise consists of 18,640 sq. ft of retail area and 3,086 sq. ft of space for a 37-space child care facility that would be located on the roof of the West Tower constructing podium. There are no minimum
parking requirements in the City of Vancouver now, but Peterson is proposing to supply 409 car stalls and 1,233 bicycle stalls in a four-level underground parkade. An overview of the 605 SE Marine Drive proposition and utilizes.(MCMP Designers, Peterson)< img src="// www.w3.org/2000/svg'%20viewBox='0%200%202000%201399'%3E%3C/svg%3E"width=" 2000" height="1399" alt=""/ > A making of the 605 SE Marine Drive proposition from the corner of SE Marine Drive and Fraser Street . (MCMP Designers, Peterson)”605 SE Marine Drive is located at the nexus of 2 very various types of urbanization and uses the chance for a
kind of advancement to negotiate this shift,” said Peterson in its rezoning application, describing the industrial uses towards the south and the residential usages towards the north.” Mixed-use high density advancement along Marine Dr. negotiates this shift while supplying a high volume of much required property units and supporting retail activation and the renewal of Marine Dr. “Although the site is not within the Marine Drive Station TOA under provincial legislation, Peterson says their proposition is”developed as a transit-oriented job”
and states the prominent intersection of two significant arterials”supports a landmark high density development.”The highest existing structure in the location is the 22-storey Fraser Commons apartment complex right away east.The task is likewise based on the City’s tenant security policies, although the rezoning application does not address the renter relocation strategy. Makings of the proposal for 605 SE Marine Drive in Vancouver.(MCMP Designers, Peterson )Peterson
likewise specifies in the rezoning application that”Changing the existing car-oriented environment into a pedestrian-focused area is an essential aspect of this job”and notes that the architectural style”considers the surrounding land utilizes, making sure compatibility and decreasing negative effects” by incorporating a range of building scales and architectural expressions.In a note released alongside the rezoning application, the City of Vancouver stated that”This application is not constant with Council-adopted policies. “However, the City states they are needed to process the submission and that a future report will detail whether City personnel support the proposal.Notably, the City of Vancouver states it received the rezoning application in March 2025 and the rezoning application itself is dated October 2024.
It’s uncertain why there was such an unusual delay in between submission and the application being published, however the City is holding the Q&A period for the application from Wednesday, April 1 to Tuesday, April 14.