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Single-family homes being transformed into 18-storey project in Vancouver

DCN-JOC News Services
Single-family homes being transformed into 18-storey project in Vancouver
GRACORP.COM — Gracorp Properties Ltd. and Minto Group’s Apartments Division are redeveloping single-family homes into an apartment building at 427-449 West 39th Ave. in Vancouver.

VANCOUVER — Gracorp Properties Ltd. and Minto Group’s Apartments Division are redeveloping single-family homes into an apartment building in Vancouver.

The two companies will be turning three single-family homes in the Oakridge neighbourhood into an 18-storey rental building at 427-449 West 39th Ave., states a news release.

The building will use a low-carbon energy system for heating and hot water and there will be air conditioning.

A rezoning application for the project was submitted in March 2022. The application includes a provision for 20 per cent of the residential area to be below-market housing in perpetuity.

In total there will be 142 market rental units and 34 below-market units.

“West 39th is the start of an exciting new partnership between Minto and Gracorp. Minto has an extensive platform that brings an industry leading focus on the tenant experience. Gracorp is excited to partner with Minto and this relationship positively leverages the synergies between the two firms,” said Bruce Black, vice-president of Gracorp, in the release.

 

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