When opportunity arises in a competitive market, taking on the due diligence that other's won't, and levering strong relationships with local municipality and industry professionals is one of many things that sets Three Shores apart. Our exciting new residential home offering at 120 - 128 E. 14th Street in the heart of Central Lonsdale, North Vancouver, is a testament to our development philosophy of adding value to the communities we know and love. We're thrilled to bring much needed housing density to a thriving community that houses Lion's Gate Hospital, medical services offices, and some of the North Shore's favourite restaurant and retail spaces.
While originally zoned and planned for a 6 story residential building, our expertise and connections to the city planning staff allowed us to gain approval for a 21 story high-rise, more than doubling the existing FSR. This site went through a highly competitive bidding process, but with swift and efficient due diligence, the potential was clear. Taking on this due diligence allowed a deal structure that rapidly accelerated our development timeline, allowing for efficient planning and execution. Our calculated risk, having invested in proper environmental evaluation using our industry network, paid off to great benefit for both investors and our future homeowners.
With nearly 3,000 people immigrating to North Vancouver a year on average, the need for purpose built density in the community is crucial. This new building addresses the needs of this area, which caters to medical services and related healthcare sites. This mixed-use development will support the goals of the city by providing much needed housing for many first responders and health care professionals that work in the North Shore. Our vision at Three Shores is to always put the communities we build in first, and strive to provide the greatest possible value added with every decision.