Developer Intracorp Homes is behind an innovative redevelopment of the Ashley Mar Housing Co-op, steps from the Marine Drive Canada Line station.
The plan calls for the demolition of the co-op’s existing 54-unit townhome complex, and the construction of three new buildings (14, 24 and 27 storeys) with a total of 582 units.
- New co-op building = 118,451 sq ft.
- Ash Street rental building = 186,542 sq ft.
- Cambie Street rental building = 186,810 sq ft.
125 of the units will be non-market, and 457 will be rental apartments. There will also be one commercial space as part of the redevelopment. The project is the first combined transit-oriented co-op and rental community in Vancouver.
Intracorp says it has been working on the redevelopment in partnership with the Ashley Mar Housing Co-op for three-and-a-half years.
“Ashley Mar chose to partner with Intracorp because they came to us with a plan that would ensure we could provide new rental housing for our existing and future membership,” said Evan Allegretto, senior vice president of development at Intracorp Homes. “We hope this cultivates more projects that pursue city objectives in order to provide rental and below-market housing in high density areas that are transit oriented. Our hope is that this project is the model of how private development and non-profit groups can come together in future in order to achieve these goals.”
Existing tenants of the co-op will be temporarily relocated off-site, with the intention of returning once the building is completed.
Residents will pay their current housing charges during the relocation, with Intracorp paying the difference to market rent.
The architects are Perkins + Will Architects, with construction anticipated to begin in early 2021 and completion expected in 2023-2024.