GWL Realty Advisors announced it has officially opened Chronicle, a 21-storey, 128-unit market rental tower located at 825 Nicola Street at Robson. The new purpose-built rental building adds significant rental stock to the Lower Robson neighbourhood, which has not seen a new rental property open in decades.
“GWL Realty Advisors is proud to have brought new rental housing to Vancouver’s West End,” said Ralf Dost, President, GWL Realty Advisors. “Chronicle is a reflection of our focus on building strong, engaged, liveable communities in cities like Vancouver. We’re looking forward to welcoming individuals and families who want to love where they live, build a life in the downtown core, and enjoy all that connected urban living has to offer.”
Described as “more than a collection of rental units,” Chronicle was designed to be a community for its residents. More than a third of Chronicle’s units are two- and three-bedrooms in response to the shortage of family-oriented rental housing in the area.
The property offers indoor and outdoor amenities including fitness and yoga rooms, a rooftop patio with an outdoor fireplace, seating area and dining space. Chronicle is pet-friendly with amenities geared toward pet owners that include a pet spa with dog washing and grooming facilities and a “bark park”, an outdoor space for pets on the building’s second floor rooftop.
“In a city where over 50 per cent of people are renters, increasing our supply of secured market rental apartments is critical. The completion of Chronicle represents an important next step in expanding the range of rental options in downtown’s West End,” said Mayor Kennedy Stewart. “By increasing the supply and diversity of housing in highly desirable, family-friendly, transit-connected neighbourhoods—as this project does—we are taking a step in the right direction and moving closer towards making Vancouver a city that works for all of us.”
Chronicle was the first project on the Robson corridor approved under the new West End Community Plan, and it delivers on the City’s efforts to increase rental housing density in the area. The Lower Robson neighbourhood has some of the highest land costs in the city and, until now, new developments have tended to take the form of luxury condominiums. As a purpose-built market rental tower from an institutional developer that intends to hold and manage the building on a long-term basis, Chronicle has broken that trend.
GWL Realty Advisors developed the project on behalf of the project owner, The Canada Life Assurance Company. Chronicle was designed by architect the IBI Group. The building will be professionally managed by GWL Realty Advisors Residential.
Click here for more info: https://rentchronicle.com.
