Taking its name from the not yet created Neon Street where the Granville Loops will one day be removed, here’s Cressey’s STIR rental building now completed on the west side of Granville Street. It’s across from The Rolston, and alongside Maddox, also a Cressey project designed by the same architects. It’s one of the last STIR (Short Term Incentive for Rental) buildings – the program that gave developers financial and parking incentives to develop rental units was tweaked and renamed Rental 100 soon after this project was approved.
Designed by IBI/HB the all-rental building has 89 units in a 10-storey structure. The rezoning was approved by Council in July 2012, and the building as completed is similar to the design shown to the Urban Design Panel, but a warmer brick face was used, and the fabric awnings switched to a glazed canopy. We suspect the red ‘Neon’ sign on the top won’t be appearing either – which isn’t a significant loss.
What makes the building interesting, in the longer term, is that the back is curved to follow the current site (where the off-ramp loops curve round). Once the loops are removed there will be a small triangular open space created and just a memory of where the loops used to be.