Ben Taddei, COO of Conwest Group of Companies with Ironworks model: too conservative in estimating demand for strata commercial space in East Vancouver | Business in Vancouver
 

Developer Conwest Group of Companies left money on the table, but company chief operating officer Ben Taddei has few regrets about the risk taken with the $14.5 million purchase of an old industrial site in East Vancouver three years ago.

This week, as city and company officials symbolically broke ground on the mixed-use Ironworks project, half of the floor space had already sold at $330 to $600 per square foot, and Conwest was beating investors off with a stick.

The site, at 200 Victoria Drive just north of East Hastings Street, falls under a 2009 spot zoning initiative of the City of Vancouver that allows higher density for job-generating projects in East Vancouver.

The 2.3-acre property was awarded a 3 FSR (floor space ratio) that would have allowed Conwest to develop 300,000 square feet in the first stacked industrial and office project in the city.

“But we were conservative,” Taddei explained. “It was risky, so we went with 2 FSR, 200,000 square feet.”

Conwest, itself a Vancouver-based firm, quickly discovered there was pent-up demand for such strata commercial space from a wide range of local industrial and office tenants.

“If we knew then what we know now we definitely would have gone 3 [FSR],” Taddei said with a laugh. He added that Ironworks attracted a great deal of interest from investors hoping to buy space and then lease it back to tenants, but Conwest restricted sales to owner-occupiers of local companies. The formula has proven so successful that Conwest is now developing two similar strata projects, including one on Southwest Marine Drive in Vancouver.

When it completes in 2019, the block-spanning Ironworks will comprise two buildings designed with ground-floor light industrial and warehouse space – complete with 26-foot-high ceilings and loading docks – and showrooms, with office space above.

The buildings are divided into units that range from 3,000 square feet to 14,000 square feet and can cover multiple floors. The city’s light industrial zoning allows everything from grinding coffee to baking bread to creating video games.

An estimated 35 high-tech or service-oriented and professional businesses are projected to provide 500 permanent jobs at Ironworks when it opens.

Read full post

 Image result for ironworks victoria drive

IRONWORKS opens the door for your business to achieve its next level of success. Centrally located in Port Town, East Vancouver, BC, IRONWORKS is a unique commercial real estate offering, presenting an innovative selection of new office spaces, mixed with industrial, warehouse and showroom space.

You’ve dedicated years to your business and you’ve paid your dues. Your hard work is paying off and now is the time to step it up another notch.

 

IRONWORKS provides the right environment for you and your team to aspire, create, and show the world what you’re made of. Its functional office and industrial spaces whisper, “Practical commercial real estate investment.”, while their modern design inspires and excites.


LOCATION

Innovation, flexibility, style – just three of the many words that describe IRONWORKS, a unique and inspiring offering of commercial real estate for sale in Vancouver, BC.

A rare opportunity to acquire ownership in a flagship commercial development in Vancouver, IRONWORKS is located at 220 Victoria Drive, in the heart of the growing Port Town community of East Vancouver. This is a place that thrives on hard work; where entrepreneurial spirit and neighbourly values converge.

IRONWORKS sets the standard for commercial real estate, with both office and warehouse spaces available for purchase. Meticulously designed to meld flexible use of space and functional design, with a modern flair that inspires vision and creativity, IRONWORKS is where successful entrepreneurs want to build their legacy.

IRONWORKS is where you want to be!

Considering commercial real estate for sale in Gastown, East Vancouver, or other areas near downtown? IRONWORKS will check the boxes on your wish list, and then some. Backed by stunning views of Burrard Inlet and the North Shore mountains, IRONWORKS is one of the most progressive and flexible offerings of commercial real estate for sale in Vancouver, building on the rich history of this unassuming, yet bustling neighbourhood.

We all know that location is important – and IRONWORKS is where you want to be. At 220 Victoria Drive, IRONWORKS is located within close proximately to the best of Vancouver:


PORT TOWN AMENITIES

There is no shortage of amenities in this unique neighbourhood. Grab a coffee and a quick breakfast from a nearby bakery. Do business over lunch along Commercial Drive or Hastings. Relax with an after-work beer at one of the East Van craft breweries. The possibilities are endless to fulfill your work-lifestyle balance, right here in Port Town.


  • 10 minutes from downtown Vancouver, BC
  • 10 minutes from Highway #1
  • 5 minutes from Port of Vancouver
  • Situated on major transit lines and bike-safe streets
  • Surrounded by convenient amenities and neighbourhood inspiration
  • Featuring panoramic ocean and mountain views

 

INVESTMENT HIGHLIGHTS

Space that works for your business.

IRONWORKS is the first of its kind, offering flexible, modern office space, and showroom, industrial and warehouse space for sale, in the historic Port Town community of East Vancouver, BC. Situated in a thriving neighbourhood, this timely commercial real estate ownership opportunity is, without question, a rare find. Highlights include:

  • Contemporary and unique mixed-use development consisting of showroom, office and industrial spaces.
  • Rare large-scale urban industrial/commercial real estate development occupying an uninterrupted Vancouver city block.
  • Progressive design with flexible options to suit your specific business needs.

Legacy commercial real estate investment in Vancouver.

  • Opportunity for Vancouver ownership in a forward-thinking flagship development.
  • Secure future investment value due to low supply of similar space close to Vancouver.
  • Historic roots, with a modern future.

Prime location for your business.

  • Vibrant amenity base in a walkable community.
  • Revitalized and re-envisioned industrial, creative and employment space in Vancouver.
  • Located on major transportation routes with convenient highway, port, transit
    and bike access.

NEIGHBOURHOOD HIGHLIGHTS

IRONWORKS is situated in East Vancouver’s Port Town in Grandview-Woodland, one of the fastest growing neighbourhoods in Vancouver. This dynamic commercial real estate development is uniquely located – not in an isolated industrial park – but in a real neighbourhood with real people, and a rich history:

  • Historic industrial district has transformed to become the Port Town neighbourhood with a growing amenity base and authentic character.
  • Friendly neighbourhood unites public, commercial, industrial, employment and housing space.
  • Stunning ocean views of Burrard Inlet and the awe-inspiring North Shore mountains.
  • Scenic bike paths and parks surround the neighbourhood.
  • Ample retail locations and restaurants – all within walking distance.

FLOOR PLANS

IRONWORKS is a one of a kind commercial real estate investment opportunity in Vancouver, BC. It sets the stage for entrepreneurs and their teams to flourish in its unique environment. This is a place where business owners can live out their vision, by owning commercial space surrounded by a neighbourhood with a rich history and a backdrop that inspires.

The commercial space of IRONWORKS accommodates the needs of a wide range of companies. Thoughtfully designed and flexible, IRONWORKS offers mixed use showroom, office and warehouse spaces for sale within innovative stacked building layouts.

From corporate offices, to industrial manufacturing and warehouse facilities, the floor plans of IRONWORKS’ Pandora and Franklin buildings allow for a mix of flexible, functional spaces that work, without sacrificing amenities and with an ambiance that just feels right.

Make 2017 the year you invest in the future of your business with the right choice of commercial real estate – and show your competitors who’s boss!

Image result for ironworks victoria drive

 PROJECT FEATURES
  • Full city block of contemporary industrial mixed-use space with showroom, office, industrial and warehouse flex spaces.
  • Secure, underground parking including visitor parking, electric car parking and bike storage.
  • Common mews with at-grade loading facilities and parking for customers.
  • Freight and passenger elevator access from parkade to lobby and mews.
  • Common dock loading with levelers in mews.
  • End-of-trip facilities with lockers, washrooms and showers.
  • Building manager facilities.
  • Common roof deck to enjoy city, ocean and mountain views.
  • Base specifications developed with thoughtful attention to the needs of each type of space.
  • Ceiling heights have been optimized for industrial and office spaces, with a range of clear ceiling heights.

SUSTAINABILITY FEATURES

  • Minimized building footprints with stacked design.
  • Automatic lighting in common areas.
  • Unheated stair cores and elevator cores reduce overall building energy consumption.
  • Heating and cooling on demand via heat pumps in individual units.
  • Passive cooling via sun shading to south facing exposures.
  • Electric vehicle charging stations.

IRONWORKS Vancouver’s premier mixed-use, for sale commercial real estate opportunity.


Read full post
Categories
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.