Priced beyond most Canadian centres, Vancouver has long held the title as one of the country’s most expensive cities for rentals.
In February, Vancouver saw average rents climb to $1,882 for a one-bedroom unit according to a national rent report from Rentals.ca — a few places behind Canada’s other ultra-pricey metropolis, Toronto, but still showing signs of year-over-year price growth thanks to a 2.6 percent price jump. As high prices persist and supply stays low, the demand for purpose-built rentals and additional housing remains strong.
Moving further into 2020, a handful of new rental developments are expected to pop up across the city. If you’re looking for new digs, whether it be for added space or just to be closer to work, here’s a collection of Vancouver projects coming this year that you should keep an eye on.
1. Kits Walk
Developer: Strand
Location: Kitsilano
Completion: Winter/Spring 2020
Currently under construction, this black and white brick building on Arbutus Street and West 12th Avenue is located in the southwest corner of the desirable Kitsilano community. Within a few minutes’ walk, future locals will find cafes, restaurants, shops and parks. On the west side of Arbutus Street is Connaught Park, a popular spot for families and sports enthusiasts with the help of the green space’s indoor ice rink, community centre and splash pad.
When complete, Kits Walk will include 48 residential units, ranging from studios to three-bedroom suites.
2. The Victoria
Developer: Strand
Location: East Vancouver
Completion: Winter/Spring 2020
Named after the drive that it resides on, The Victoria is steps from one of the city’s most popular green spaces. Across the street from this 152-unit midrise is John Hendry Park, otherwise known as Trout Lake Park — home to Vancouver’s only accessible freshwater lake, this urban oasis is a special spot for residents to enjoy the water, explore walking trails, or let Fido make some friends in the off-leash dog park.
Suites at The Victoria are said to evoke stylish and sophisticated interiors, with stainless steel appliances in the kitchen, along with ceilings over eight feet, quartz countertops and laminate flooring.
3. W2
Developer: Aurmon Development
Location: Mount Pleasant
Completion: December 2020
Located close to the Cambie Street Bridge, W2 touts technology features and true convenience. When construction is complete on the 12-storey building in December, residents will have access to high-speed internet in all units, an online tenant portal for monthly payments and remote access parking. There’s also the 24-hour concierge service, which promises to assist with amenity bookings and neighbourhood searches.
Outside, residents have their choice of three major Vancouver communities to explore, between Yaletown, Mount Pleasant and Fairview. If you’re looking to get farther afield, the handy access to the Olympic Village SkyTrain Station can transport you across the city.
4. The Lonsdale
Developer: Hollyburn Properties
Location: North Vancouver
Completion: Summer 2020
Across the water from downtown, The Lonsdale is centrally located in North Vancouver. Within a few blocks it’s easy to find everything you need, including a Shoppers Drug Mart, Loblaws, major bank branches, restaurants and City Hall.
Take in views of the North Shore Mountains atop the private rooftop terrace, or enjoy the company of friends and family in the communal social lounge. For those with a green thumb, put down some roots in the community garden, or power through leg day in the fitness centre.
5. The Royals
Developer: Chard Development
Location: North Vancouver
Completion: Winter/Spring 2020
While this rental tower duo doesn’t have any official ties to the House of Windsor, The Royals does sport a stylish feel in this professionally-managed rental community.
Ranging from studio to three-bedroom apartments, the modern interiors will showcase programmable thermostats, vinyl plank flooring and roller blinds. In the kitchen, soft-close cabinetry and stainless steel appliances are married with under cabinet lighting and solid countertops. In this pet-friendly project, even your furry family members will have their own space thanks to the dog wash station and dog run.
