False Creek Flats a lost opportunity, say developers (the New St. Paul's)

After more than 20 years of discussion, debate and draft proposals, Vancouver city council unanimously voted May 17 to proceed with its controversial plans for the zoning and development of False Creek Flats, considered the city’s last frontier for high-density real estate development.

But condo developers say the city “lost an opportunity” to allow more housing, with a plan they say will “build a suburban-style office park” in a prime city setting.

The flats received its major impetus 15 years ago when Finning International Inc. (TSX:FTT) left the area, bequeathing 18.6 acres of its property on Great Northern Way to the University of British Columbia, Simon Fraser University, the British Columbia Institute of Technology and the Emily Carr University of Art and Design. The Flats will also be the site of the new St. Paul’s Hospital.

 Frank O’Brien, Peter Mitham and Sean Yoon report

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