Macdonald Development Corp.: Capitol Residences JANUARY 10 www. bus- ex. com 109 recognition of its efforts, the city gave permission for the overall project to exceed the maximum allowable height and build a 415- foot tower. Demolition of the old Capitol 6 Theatre took place in 2006, and work on the new building began in the summer of 2008; all 372 units quickly sold out. The design phase involved local company Bob's Your Uncle Design and made provision for the first five floors to be totally dedicated to cultural amenities, in keeping with the district. The top 12 floors are dedicated to ultra- luxury Capitol Collection residences, featuring air conditioning, overheight ceilings and panoramic views. All of the units are designed to offer residents a taste of penthouse luxury. The exquisite interiors feature marble flooring in the bathroom, and either marble or limestone around the shower and tub surround, sink backsplash and under the tabletop sink itself. There's also sleek flat- panel cabinetry in the kitchen with smooth granite or stone slab countertops, and above the multi- functional island, with its built- in sink, is an open- shelf wine rack and display cabinet. The successful partnership forged between MDC and Wall on previous condo projects resulted in a collective knowledge of what people wanted in their condos. Capitol Residences gave the team the perfect opportunity to build just that, in the shape of the tallest condo tower in the district. The building immediately stood out not just for its size but for the outstanding value it offered purchasers, with prices starting at $ 360,000 and no fewer than 210 of the residences priced under a half million dollars. Not surprisingly, given the location, luxury at affordable prices, and scarcity of available condos in downtown Vancouver, the project has proved an unmitigated success. Wall has also played a major role in transforming the Vancouver skyline, helping to create its " City of Glass" reputation. The Wall philosophy of providing as much affordability in its downtown projects as possible has been incorporated into the tower design. Capitol is another joint venture between Peter Wall and Rob Macdonald ( Capitol Residences Limited Partnership with Development Management by Wall Financial Corp.); the two teams have previously worked together on the highly successful Hudson, Yaletown Park and Electric Avenue at Paramount Place and the Sheraton Wall Centre in downtown Vancouver. It is located next to the historic Orpheum Theatre at Seymour, off Robson Street. At the time the development got under way, property prices had soared by 52 percent in the previous 12 months, and reports had indicated that there was likely to be a shortage of new condominiums in the downtown Vancouver area because of escalating demand. The development is located on the site of the former Capitol 6 Theatre, which originally opened its doors in 1921. Part of the project will include expansion to the adjacent Orpheum Theatre, expanding the performance stage, creating a new rehearsal hall for the Vancouver Symphony Orchestra and a school for musical excellence, where members of the Orchestra will be able to teach music. Among the benefits that condo owners will enjoy are 24- hour concierge service, an over height wall- to- wall glass lobby, a landscaped terrace, a fully equipped gym, a TV lounge with pool table and a reading room, meeting rooms with a kitchenette, and an eco co- op auto network on site. A further bonus to the area comes by virtue of the Orpheum Theatre receiving its own off- Seymour truck- loading bay, mitigating some of the downtown traffic problems. MDC worked very closely with the Vancouver Symphony Society to assist in their operations and help develop a sound economic platform. The concept of the school was the joint brainchild of Art Willms, chairman of the VSO, and Rob Macdonald, president of MDC. It was born out of the fact that so many members of the Orchestra were also music instructors. Commenting on the initiative, Willms has said it was " a once- in- a- lifetime opportunity" to enhance the quality of downtown life, provide increased educational programs, and give VSO members the opportunity to increase their earnings through teaching. To bring the idea to life, MDC contributed in the region of $ 16 million to the Orpheum and VSO, and in

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