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.
What's Driving This Trend
- Sustainable Urban Living
- The Oakridge redevelopment project addresses pressing issues in sustainable urban living by adopting a district energy system and implementing onsite water savings and self-powered transportation choices.
- Cultural Hubs
- Oakridge's transformation into a major cultural hub demonstrates the potential for reimagining shopping centers as multi-purpose spaces that integrate retail, residential, office, parks, civic space, and public art programs.
- Renovated Urban Centers
- The Oakridge Hub redesign sets an example for renovating urban centers, showcasing the opportunity to transform existing spaces into thriving communities with curated culinary spaces, large community centers, and marketplaces.
Who This Affects Most
- Real Estate
- The Oakridge project presents a disruptive innovation opportunity for the real estate industry, showcasing the potential to create sustainable, culturally vibrant, and mixed-use spaces that attract residents, workers, and visitors.
- Architecture and Design
- The collaboration between Henriquez Partners Architects and Wonderwall in the Oakridge project highlights the innovation possibilities for architects and designers to create futuristic, sustainable, and visually appealing spaces.
- Retail and Hospitality
- The Oakridge Hub's transformation into a cultural hub and market with curated culinary space showcases the potential for disruption and innovation within the retail and hospitality industry, emphasizing the integration of experiences and offerings.
