The Aquilini family, owner of the Vancouver Canucks and Rogers Arena, are smartly capitalizing on Vancouver's tight apartment rental market with their three-tower development called Aquilini Centre.
Once complete, the project will bring 600 new rentals to downtown Vancouver's near-zero vacancy rental market.
Rents in the first tower started at $1,550 for a 450 sq ft one bedroom unit, but those units appear to be all snapped up.
The first is a new rental apartment building at the corner of Davie and Granville at the current site of the Tsui Hang Village Chinese Restaurant, a spot famous among Vancouverites for their late night take-out window and "special tea."
Deecorp is proposing a seven storey mixed-use building with 94 rental apartments on top of street level retail. There will also be 47 underground parking spots.