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.