Concord Pacific has unveiled plans for a massive new 12-tower mixed-use development project in Vancouver’s northeast False Creek area.

The plans call for the proposed Concord Landing development to include 5,000 new homes and a vibrant waterfront village. Some of the towers could stand as tall as 65 storeys. Concord Pacific aims to capitalize on the city’s revised view-cone policy that has loosened restrictions on building heights and, in turn, allowed for the construction of more units.

The 12 towers are slated to stand alongside retail spaces, parks, and cultural amenities.

“This is a comprehensive and ambitious vision that integrates local and global elements of urban design,” Peter Webb, Concord Pacific’s senior vice-president of development, told Postmedia. “There is a sort of alignment of the stars here at this moment that may cause activation of the actual development.”

The plan draws inspiration from Italy’s Portofino, showcasing stacked housing and walkable pathways along the picturesque shoreline. It also includes an extension of the seawall and spaces for local merchants and festivals, such as the Dragon Boat Festival. Additionally, up to 50 small shops and restaurants will prioritize local entrepreneurs, artisans, and culture.

A cornerstone of the proposal is the removal of the Georgia and Dunsmuir viaducts, a long-delayed city project. Some camps view their demolition as crucial for connecting the downtown area with False Creek, but the idea has also faced resistance because of concerns about potential severe automobile congestion in nearby neighbourhoods.

“One of the significant features of the plan is to connect the downtown to the waterfront by realigning Georgia Street down [to ground level] for pedestrians, cyclists, and cars,” Webb told CBC.

The plan is expected to include a mix of market and non-market housing in accordance with the city’s area plan and general housing policy.

“We are excited to bring the knowledge this team has gained over the years, along with their best ideas, to the development of the Concord Landing community,” Terry Hui, CEO of Concord Pacific, told Postmedia via email.

Concord Pacific plans to submit a rezoning inquiry to city hall within months, with a formal application anticipated by year-end. Construction is projected to begin in two to three years, pending city approval.

Lon LaClaire, Vancouver’s general manager of engineering services, told CBC that the estimated infrastructure cost for changes to the street network in 2018 was $438 million. But, he added, that total would have to be reassessed because of Concord’s changes to its design.

LaClaire also told CBC that the project poses challenges due to multiple landowners, including the B.C. government, the SkyTrain track that traverses it and uncertainty who who will pay plus the SkyTrain running through it make the project tricky and confusing over who will pay for what.

But LaClaire expressed enthusiasm for the proposed project. Pending regulatory approvals and sufficient financing, he told CBC, it will be “extremely transformative for the city just because it takes a portion of the downtown, which is probably one of the least desirable areas, and it would turn it into one of the most desirable areas,” he told CBC.

Concord Pacific has sought to redevelop the site, which sits on former Expo 86 lands, for many years.

”Concord Landing is the future of False Creek, Webb told CTV.

Photo: Shimahara for Concord Pacific