$1.5B Oakridge 'mega mall' redevelopment plan scaled back

It was supposed to be one of the most expansive redevelopment projects ever undertaken in Vancouver, spread over eight city blocks and costing$1.5 billion.

But now plan for theOakridge Centre has been scaled back afterthe developerIvanhoe Cambridgecame to the conclusion their original planswere too ambitious.

Some of the revisions include:

• No second floor on the OakridgeMall
• 2,400 fewer parking spots
• Scrapping at least two planned towers reducing the number ofresidential units from 2,900 to 2450
• Moving a planned roof-top parkto street level

One of the big set backs forIvanhoeCambridge was the discovery of a larger-than-anticipated aquifer on the site, running close to the surface of the ground.

UBC Geotechnical Engineering Professor Roger Beckie says dealing with the aquifer would significantly increased the cost of construction.

"Controlling the water in the aquifer is the real issue here," said Beckie. "When the water table is close to the surface and you have to create a building, you excavate close to the ground and the water can rush in. I think in this case the cost of first, keeping the excavation dry whilethey'reconstructing,thenmaintaininga dry building afterward was probably prohibitive."

The Oakridge redevelopment also faces other obstacles including a slowing economy and increased competition from a new mall near the airport and anotherplanned for Tsawwassen.As well anchor tenant Target went bankrupt last year.

Area residents opposed to the massive redevelopment are pleased plans are shrinking.

"We argued at city council that we do not need more retail space," said Allan Buium. "Walkingaround the city ... there are vacancies all over the place. The small retailer person is having a difficult time. They don't need more retail."

City hall officials say right now the plan to scale back the Oakridge redevelopment is just an inquiryfrom the developer.

But it's possible the magnitude of the request for changescould trigger a complete do-over of the development process, forcing IvanhoeCambridgeto start fromscratch withzoning applications and public consultations.

A decision is expected in the next few months.