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Steps from the sailboat-strewn False Creek and enclosed by highrise towers on nearly all sides, 498 Drake Street in Vancouver is densifying. A residential development by Wall Financial Corporation is steadily climbing on the property after demolition of a strip of low-rise structures, which also paved the way for the neighbouring Charleson development to move forward.
The project will include retail space and multiple townhouses at ground level. In total, 300 units will be spread across the 43-storey volume of the building, which has been designed by DIALOG. Proposed amenity features include an outdoor terrace and patio area, a fitness room, meeting spaces, and a large indoor social lounge.
A protected view cone from Queen Elizabeth Park to the north shore prevents development from rising above approximately 127 metres. Green building stipulations also mandate that the project achieve a minimum of LEED Gold certification. To achieve these requirements, the building's envelope will be limited to about 35 percent glass. Additional environmental features include green roofs, stormwater management systems, and an urban agriculture component.
As the concrete floors of the tower portion soar above the podium, cladding panels have begun installation on the lower levels. Off-white spandrel glass and aluminum window treatments define the exterior so far. Soon to become another silhouette in the burgeoning skyline of Yaletown, 498 Drake will add more units to one of the world's most expensive property markets.
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