Creative Use Leasing Opportunity - 1247 Cartwright Street

CREATIVE USE LEASING OPPORTUNITY

 1247 CARTWRIGHT STREET

 

GRANVILLE ISLAND MISSION STATEMENT

“To steward this public land for meaningful urban and social experimentation among diverse, creative, cultural, and business models, engaging local First Nations and communities while welcoming the world.”

 

GRANVILLE ISLAND VISION STATEMENT

“The most inspiring public place in the world.”

 

Creative Use Leasing Opportunity on Granville Island

Our creative use spaces are designated to provide light industrial workshops, studios, galleries, small scale manufacturing or wholesale production/showroom spaces and/or retail space to all those in creative and innovative fields of work who are looking to take their work and their business to the next level. Leasable spaces are managed in line with the Guiding Principles and Leasing Objectives as set out in the Granville Island Leasing Guidelines which are publicly available here.

As Vancouver’s premier artistic and cultural hub, located in an urban, waterfront location and steeped in a rich industrial and maritime heritage, and anchored by the internationally recognized Public Market, these spaces provide an opportunity to gain access, interaction and exposure to local, national and international visitors. 

CMHC Granville Island currently has an exciting leasing opportunity for creative uses at 1247 Cartwright Street and invites Expressions of Interest (EOI) Applications for those interested in leasing this unique space.

 

Unit Details:

  • 2,332 square feet of rentable space (ground floor plus mezzanine level) - see below links for the survey plan and photos
  • Three entries including a roll up gate
  • Natural Light (skylights, south & north facing ground floor windows),
  • Newly painted
  • Accessible Bathroom
  • 3 phase 400amp power
  • Gas Heating System
     

Unit Photos
Unit Survey/Plan

 

Rent, Utilities and Insurance:

1. Rent Rates

a) Estimated Minimum Rent*: the greater of $12.00 per square foot (PSF) which is $2,332.00 per month (plus GST) or 3% Percentage Rent of Gross Revenue

b) Estimated Additional Rent:**

  • Estimated CAM: $5.00 per square foot (PSF)
  • Estimated Garbage: $0.16 per square foot
  • Estimated Water: $0.16 per square foot

      Total Estimated Additional Rent: $5.32 ($1,033.85. per month)

c) Total Estimated Gross Monthly Rent: $3,365.85 (plus GST)

*This space is being posted at below-market Minimum Rent in accordance with Granville Island’s mandate to support creative uses.

**Based on April 1st 2019 Additional Rent rates and can vary annually based on usage and reconciliation of costs incurred.

 

2. Hydro, Gas and Property Tax: to be paid directly by the tenant

3. Security Deposit: The equivalent of two months Gross Rent

4. Tenant Insurance Requirement: all risks property insurance; equipment breakdown insurance; minimum $5,000,000 liability insurance

 

Expression of Interest (EOI) Application Details:

In order to be considered, applicants must submit an expression of interest (EOI) application to demonstrate their ability to fulfill all of the following criteria (applications not to exceed ten (10) pages):

1. Summary of the proposed concept & use of the premises

  • Must be a local creative/innovative focused individual, company, group or society with a strong alignment with Granville Island’s Mission & Vision Statement and aligns with the guiding principles and leasing objectives of the Granville Island Leasing Guidelines. Applicant use that will compliment and/or enhance the Granville Island experience.
  • The proposed use must be for one of the following: a light industrial workshop/ studio/ gallery / production & showroom/ small-scale manufacturing use with or without a retail/public use component.
  • Must commit to active use of the space 5-7 days per week, regardless of public access. If proposing a retail/public access aspect the applicant must make a commitment to be open with consistent operating hours and days of the week.
  • Explain and/or show how the applicant meets the above use requirements and what the concept will be along with operating plans for the premises. Show how the applicant’s skills, knowledge, and experience relates to the business concept/proposed use.

 

2. Products/Services/Offering Information

  • Explain and show photo examples and website links of the products/ offerings/ programming/ services produced by the applicant which demonstrate a high quality of craftsmanship/ innovation/ creativity/ public engagement.
  • Briefly describe the customer/client base the applicant will be targeting and how the proposed use will serve/interact with those customers/clients.
  • Provide what the pricing/fee range will be if the applicant is selling products/services.

 

3. Marketing and Design Plans

  • Provide a marketing & promotion plan (detailing items such as advertising/promotion, community outreach, website, email campaigns, demonstrations, collaborations with others within the communities and city, events, social media strategy). Please include past or future examples.
  • Detail any past and future participation in local events, industry events and/or community initiatives, if applicable.
  • Provide a rendering of the proposed exterior signage/frontage design.
  • Provide a rendering of the layout of the interior with any proposed changes/improvement plans the applicant would like to do to the premises. 
  • Explain the applicant’s ability and plans to create a strong and inviting visual animation of the premises.

 

4. Financial Information:                  

  • Show that the applicant has the ability to meet the financial commitments of the lease and the requirements as outlined in the rental rates and costs below.
  • Explain what the ownership structure is or will be (sole proprietor, non-profit, society or corporation) with the full names of all the owners/those who will be involved.
  • Provide operational & financial history for any existing or former commercial locations (at a later time the applicant may need to provide the necessary proof that they can support running the business, such as a credit report).
  • Provide 3 year pro-forma financial statements including proposed initial investment to set up the space for the applicant’s specific use, anticipated monthly or annual revenues & expenses including ongoing operating and staffing expenses.
  • Be able to provide proof of a business license and any other necessary permits in order to be able to take occupancy and operate.
  • Provide a list of other commercial locations and leases the applicant has if applicable, and if so note if the applicant would continue to keep them if they are chosen candidate for these premises.

 

5. References:

  • References from past partners, collaborators and/or landlords which demonstrate support of the applicants ability to meet the EOI posting criteria and effectively execute their proposal.

 

FAQs & Important Dates:

 

1. Unit Viewings:

Viewings of the unit will be conducted with CMHC Leasing staff only. Please do not disturb current tenants or nearby tenants (where applicable). Viewings will be available through scheduled group bookings. Note that this will be a three unit tour taking approximately 20 minutes per unit and totalling 1 hour. The tour will start at #4-1244 Cartwright and then continue on to #2-1244 Cartwright and then finish at 1247 Cartwright. Please contact leasing@granvilleisland.com to pre-register for one of the below tours by letting us know your preferred date and time:

                    Wednesday June 26th, 2019 - 10am & 5pm

                    Wednesday July 3rd, 2019 – 10am & 5pm

                   Wednesday July 10th, 2019 – 10am & 5pm

                   Wednesday July 17th, 2019 – 10am & 5pm

 

2. Submission Process:

How do I Apply?

All applicants must apply online using the form at the bottom of this page. Please fill out the form and attach your application/proposal in one of the following formats: PDF/ppt/zip/word doc

 

When is the application deadline?

The application deadline is Wednesday July 31st, 2019 by 4pm*   (*No submissions will be accepted after this date and time)

 

Can I apply for more than one EOI?

Applicants can apply for more than one active EOI if desired; order of preference should be indicated on the application. Separate online submissions will be required for each unit. Please see application form for further details.

 

Can I provide samples of my work/proposed use?

Applicants may drop off supplementary materials or work samples to support their online submission (prior to 4pm on the deadline date) to the Granville Island Administration Office as follows:

 CMHC Granville Island Administration Office

           2nd Floor - 1661 Duranleau Street, Vancouver, BC V6H 3S3

Attn: Leasing Department

Subject: “1247 Cartwright Street Expression of Interest Application”

Applicant/Organization Name

 

What happens once all applications are submitted?

Applications will be reviewed and shortlisted by a committee and applicants will be notified of shortlist decisions via email within 30 days. Shortlisted applicants will be contacted to provide further information or to schedule a presentation to the committee within the following 30 days.

 

What happens once a lead proponent is selected?

Lease terms will be negotiated and there will be a due diligence period for both parties. Once lease terms and timelines are agreed upon, the successful applicant will then be announced.

 

3.    What is the estimated Possession Date of the Premises?

November/December 2019

 

4.    Will there be a Fixturing or Free Rent period offered?

Any Fixturing or Free Rent periods would be part of lease negotiations, the agreement of which will be determined based on the applicants’ proposed tenant improvements and related construction timelines (where applicable).

 

5.   Will CMHC be making additional improvements to the space?

This unit will be given in ‘as-is’ condition. Any further improvements or modifications will be at the sole cost and responsibility of the applicant, subject to Landlord approval and any applicable permit and building code requirements.

 

6.   Creative Use EOI Evaluation Process:

How will the applications be evaluated?

Based on feedback from the arts, culture and the creative use community over the past year, CMHC is piloting a new process for tenant selection within its creative use spaces. This will include a two phase tenant selection process as detailed below:

  • Initial applications will be evaluated by CMHC staff; in order to be considered for 1st phase shortlisting, applicants must ensure their business plan/proposal meets all criteria outlined in the EOI.
  • The tenant selection committee will be then be formed, comprised of between not less than 3 non-CMHC staff jurors with experience in the creative  use community as jurors, as well as not less than 3 CMHC staff.
  • The tenant selection committee will then shortlist the top 3-5 candidates who will then be brought in for an interview and in-person presentation, and evaluated accordingly
  • Following scoring, the lead proponent will be engaged in the offer to lease negotiations with CMHC                                                                             ​​​​​​

 

 7.  If I have more questions about this space or leasing on Granville Island in general, who should I contact?

All lease inquiries via email should be addressed to leasing@granvilleisland.com. Prior to inquiring, CMHC encourages applicants to review the Granville Island Leasing Guidelines and the Granville Island’s Mission & Vision Statement for more information regarding guiding principles, leasing objectives, standard lease terms and rate methodology. Questions not answered here  regarding this EOI posting specifically can be addressed during EOI viewing tours.

 
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