By: Jeremy Nuttall
September 9, 2024
Construction will begin next week on an $88.1m residential rental project in South Vancouver, Green Street News can reveal.
PC Urban Properties and Fiera Real Estate will break ground on a 141- unit, two-building development in the Killarney area, marking the first purpose-built rental project to get underway in the neighbourhood in nearly a decade.
“We are excited to be part of the City of Vancouver’s innovative Secured Rental Policy to fast-track rental housing in Vancouver,” Brent Sawchyn, CEO of PC Urban, said in a statement. “This project is an example of how civic policy can help facilitate faster approvals to deliver significant housing.”
The policy encourages developers to construct purpose-built rentals. Sawchyn added that the company is committed to helping increase rental housing stock in markets across the province.
Each building will have studio to three-bedroom units. Some 35% of the units will be family-oriented, including 12 three-bedroom townhouses. The 1.09- acre development also will have a rooftop amenity and a play area.
The project, at 2596 and 2565 East 41st Avenue, is slated to be completed in 2026. The area features numerous parks and amenities, including quick access to Kingsway and its eclectic food scene.
