Plans Filed for Four New Mixed-Users in Downtown

One year after announcing ambitious Downtown expansion plans, Barry Shy is officially putting his money where his mouth is.  Over the past several weeks, SB Properties has filed plans with the city for four new residential developments, including multiple high-rise towers and an adaptive reuse project.  The four mixed-use complexes are being designed by Los Angeles-based DT Architects, and will invigorate current pedestrian dead zones along Broadway, Main and Hill Streets with approximately 1,000 market rate apartment units and street-level commercial space.

32-Story Tower Planned for Hill Street

Last summer, SB Properties overlord Barry Shy announced bold plans for a slew of new projects that would erect high-rise towers in and around Downtown's Historic Core.  Earlier this month, the veteran developer officially put words into action, submitting plans for a 32-story condominium tower on a parking lot behind Broadway's popular Ace Hotel.  Located at 920 South Hill Street, the building would contain 239 residential units, ground level commercial stalls and a parking garage.  Shy has commissioned locally-based David Takacs Architecture to design the project, in addition to his other proposed towers on Broadway and Main Street.

Although currently light on foot traffic, a litany of apartment-retail developments are slated to bring thousands of new residents to the blocks surrounding the proposed tower in the coming years.  The half-acre project site sits directly across the street from the Hanover Company's Olympic & Hill apartments, which will be accompanied by three similarly-sized developments on adjacent properties.  One block northwest, Vancouver's Onni Group is building a 32-story residential tower at 888 Olive Street.  On the eastern side of the Ace Hotel, developer G.H. Palmer intends to construct a mid-rise and low-rise complex on current parking lots.