- Updated On:
- June 10, 2023
We are pleased to present this opportunity to acquire 100% interest in a purpose-built rental development site, with in-place approvals for an 18-storey tower with 131 rental units. 21 of the units are designated as Moderate Income Rental Units. The site is excellently located along the arterial street of W. 41st between the new Oakridge Park Mall development and the OTC lands master plan development. The proposed development has been designed by Arno Matis Architecture, and the in-place approvals provide an opportunity to avoid a long permitting period with a ready-to-develop site.
The site is located in the Oakridge area of the west side of Vancouver at the corner of W. 41st Avenue and Willow Street, less than a 10-minute walk from the Oakridge-41st Canada Line Station. The site is two blocks away from the future Oakridge Park mall, expected to open in late 2024, which will be a world class retail, culinary and cultural hub consisting of over 1.2 million square feet of floor area and over 100 retail and restaurant tenants. The area will compete with downtown Vancouver as a major retail, dining and living destination. The Jewish Community Centre is directly across the street and there are a multitude of schools and parks within walking distance, making the site a prime location for a new purpose-built rental building which can
command premium market rents.