JUNE 2012 |www.opp.org.uk WORDS | Nicola Way


BUSINESS


CANADIAN OUTLOOK | 51 Rental revolution


Vancouver’s apartment rental market is set for a sizable shake-up. Two towers recently converted back to residencial apartment communities are set to open this month, consisting of 234 brand new rental apartments comprising studios and one-bedroom homes. Nicola Way reports.


W


hen it comes to renting an apartment in downtown Vancouver, the choice


invariably consists of a featureless unit in one of the many buildings that were built specifi cally for rental use in the 1950s and ‘60s. The fl oorplans are usually formulaic – comprising one or two bedrooms, a galley-style kitchen full of much-used older appliances, well-worn hardwood fl ooring, old plumbing, and a communal laundry room with washing machines that rarely get your whites whiter.


The other option is to rent a condo. The distinction between an apartment and a condo is that the former was built specifi cally for renting and the latter is privately-owned. Condos are usually located in better-equipped, more modern buildings with high-end interiors and comprehensive on-site amenities. Their shabbier cousins – apartments - have a tougher rap.


However, all this is about to change with the arrival of a new kid on the block which is set to raise the bar for future apartment rentals by providing an environment that is similar to that enjoyed by condo owners. Pacifi c Palisades – or PaPa as it is


affectionately known – is no stranger to Vancouver. During the 1960s and ‘70s there was a huge boom in high-rise construction in Vancouver’s downtown West End neighbourhood. This is the area that boasts the beaches of English Bay, tree-lined leafy residential streets, and the busy shopping district of Robson Street. Three Modernist-style towers were


constructed – one of which formed part of the Pacifi c Palisades Hotel which was rumoured to be a favourite haunt of celebrities such as Johnny Depp, Sharon Stone, Tom Selleck and Martin Sheen. However, in 2010, two of the


towers – including the hotel - started a transition back to their roots as a residential apartment community. Two years on, and the doors of the two new Pacifi c Palisades towers are set to open in June this year with a thoughtful design, attention to sustainability and fi rst-class amenities. The two towers – Robson and Alberni – consist of 234 brand-new rental apartments comprising studio and one-bedroom homes.


Suites will be rented on a one-year lease basis with prices ranging from $1,100 per month for a studio, and $1,500 per month for a one bedroom. There is a Commons area that connects the towers and provides unique amenities for residents such as a fi tness facility with state-of-the-art fi tness equipment including treadmills, elliptical trainers, stationary bikes, free weights and exercise machines, a yoga studio, meeting rooms, free WiFi, and


Compiled by Nicola Way of


www.BestHomesBC.com and www.AssignmentsCanada.ca 001 604 781 9279 nicola@besthomesbc.com. Specialists in off -plan and resale properties throughout British Columbia and Canada.


laundry rooms with high-effi ciency front-loading washers and dryers. The attention to detail continues in


the units’ interiors with designs that incorporate West Coast Modern style with beautiful, earth-friendly materials such as wood and stone.


Each suite has been thoughtfully laid out with maximum space effi ciency in mind. Large windows add to the sense of spaciousness while providing stunning views. Welcome to a new era in rental homes, and welcome to PaPa!


Towering achievement | The two refurbished towers will be rented on a one-year lease basis, with prices ranging from $1,100 per month to $1,500 per month


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