INTRACORP HOMES AND OXFORD PROPERTIES PARTNER ON SOUTH VANCOUVER RENTAL APARTMENT DEVELOPMENT AT ASHLEY MAR SITE
Joe Houssian founded Intracorp Homes in 1976. In 1994, Houssian acquired the urban development business from Intrawest to create Intracorp Developments. Oxford Properties entered into a joint venture with Intracorp Homes to develop 649 rental apartments at the site of the Ashley Mar Housing Co-operative in South Vancouver. The plan by Intracorp Homes calls for the demolition of the co-op’s existing 54-unit townhome complex at Ash Street and SW Marine Drive. Upon completion, Oxford, alongside Intracorp, will deliver 125 homes to the Ashley Mar Housing Co-operative, more than doubling the currently available homes on site as part of one of Canada’s largest co-op housing renewal projects. Current residents will all be relocated during construction before moving back into the redeveloped co-op tower, which they will continue to own and operate.
Located steps from the Canada Line at 8495 Cambie Street and 8460 Ash Street, the nearly 1.5 acre site will offer a range of bachelor, 1-bedroom, 2-bedroom, 3-bedroom and townhome layouts to accommodate a wide array of renters including families. The development comprises two new 27-storey and 31-storey market rental towers, and a 16-storey co-op tower. Situated within the Marpole-South Cambie transit corridor, residents will be steps from the Marine Drive Skytrain Station, featuring a movie theatre, grocery store, shops and restaurants, and with Downtown Vancouver reachable within 20 minutes.
Oxford Properties is targeting a significant pipeline of opportunities in Vancouver as a core, long-term market, primarily through new development projects to deliver much needed supply of professionally managed rental product.
Story by: SWFI