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By the looks of the development application notice staked to the front lawn at 2975 Oak Street it would appear the old Santa Fe apartment's days are numbered. But in Vancouver's real estate market looks can be deceiving.

If the developer has their way, the Santa Fe you see today will be completely rejuvenated and restored -- at least the parts you see here -- the west and north facades of the building. The rest of the building will be demolished to make way for an 11-story pedestal tower.

CEI Architecture Planning Interiors has applied for permission to develop an 11-storey, 50 unit residential concrete building with two levels of underground parking. From CEI's project description:

The design of the new eleven storey tower recognizes the value and significance of the existing Santa Fe building on the site, originally constructed in 1929 and  and presently evaluated as a "B" heritage building by the City of Vancouver.

Our scheme proposes to save the Oak Street and 14th Avenue facades, to incorporate into the new design. These facades will remain in their existing locations, completely rehabilitated to contemporary standards for residential buildings with in the City of Vancouver.

The development application information is online here with plenty of 3-D renderings of the proposed development.