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Reliance Properties has applied to the City of Vancouver for permission to develop the following on this site:

• a commercial building containing retail uses on the ground and lower levels, office uses on levels two to five and rooftop amenity space;
• a height of 27.3 m (89.57 ft.) from Beatty Street and 30.2 m (99.1 ft.) when measured from the lane;
• a Floor Space Ratio of 5.5 (3,541 m² / 38,115.01 sq. ft.), inclusive of a Heritage Density Bonus of 10%; and
• loading is located in the lower level having vehicular access from the lane.

 

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According to this article, Reliance Properties’ was initially considering a 26-storey rental apartment building for this site.

Dan Fumano: Shining a light on Vancouver's shadow debate

Despite Vancouver's rental housing shortage, many potential apartment buildings never see the light of day due to concerns over shadows.

vancouversun.com

From the article:
"The proposed development was never made public, because it died during the pre-application phase, the early part of the rezoning process where the proponent holds discussions with city staff before filing a formal application.

A major reason city staff wouldn’t support the 26-storey proposal, said Reliance president Jon Stovell, was shade: During certain times of the day during parts of year, the building would cast shadows across the street onto Terry Fox Plaza outside B.C. Place."