GWL Realty Advisors says it has broken ground on a 21-storey market rental tower at 1500 Robson St. in Vancouver’s West End. The 128-unit structure has been designed by the IBI Group.
London Life Insurance Company owns the project.
“We are proud to be increasing the supply and diversity of rental housing in the West End of Vancouver,” GWL president Ralf Dost said in a statement. “This new development will provide the neighbourhood with desperately needed rental units – especially those suitable for families – in a professionally managed building with great amenities. This project represents the type of community building we want to undertake in the City of Vancouver and for our investment clients.”
In response to the shortage of family-oriented rental housing, a third of the building will be made up of two- and three-bedroom units suitable for families.
“Developments like this one at 1500 Robson are adding much-needed supply to the downtown rental market,” says Vancouver Mayor Kennedy Stewart. “In order to alleviate the housing shortage in our city, we need more of all types of housing – especially purpose-built rental. By incorporating larger units suitable for families into the design, this new tower at 1500 Robson will also help diversify the housing mix in the Lower Robson neighbourhood.”
This development is the first project on the Robson corridor to be approved under the new West End Community Plan and is in line with the City’s policy of increasing rental housing density in the area. The building is expected to be finished in early 2021.