February 14, 2018 - Through an ambitious partnership, Canadian developers Westbank and QuadReal have set out to reimagine one of the strongest regional shopping centres in North America with the goal of transforming Oakridge into a major cultural hub. The innovative endeavour proposes the metamorphosis of an area predominantly known for its shopping into a major 4.5 million square foot hub of retail, residential, office, parks and civic space.
This urban redevelopment project is groundbreaking in the way it addresses the most pressing issues in sustainable urban living. By adopting a district energy system, Oakridge will produce 70% fewer GHGs than comparable projects. An onsite water savings program as well as an array of self-powered transportation choices will make of Oakridge a global example of energy efficiency. In addition, the hub will encompass a 10-acre city park, complete with 1,400 trees, opportunities for urban farming alongside paths for running and cycling.
Oakridge will be the home for 6,000 residents and the workplace of 3,000 creative economy workers who will enjoy a market with over 100,000 square feet of curated culinary space and one of Vancouver’s largest community centres. Moreover, the total public art program budget for Oakridge has been set to surpass $7 M, elevating this cultural centre to elite artistic status as envisioned by Ian Gillespie, the founder of Westbank, a culture-focused real estate powerhouse.
The design for this futuristic project is being spearheaded by Henriquez Partners Architects, a renowned Vancouver firm, while the Japanese firm, Wonderwall, will be responsible for the interior retail design. Construction will commence fall 2018, the estimated completion date is late 2025.
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