The Bristol has 97 residential units and just over 10,000 square feet of commercial space. It is the first purpose-built rental apartment building constructed in Cloverdale in more than 30 years.
“I want to ensure that everyone [understands] the difference between purpose-built and the secondary market,” said David Hutniak, CEO of LandlordBC. “This is secure, long-term rental housing. This building, until it falls, will remain rental housing. And that’s critical for folks who are looking for homes in this community,” he said.
“Affordable housing has been a significant issue throughout the Lower Mainland,” said Mayor Hepner. “[The lack of] rental housing has only exacerbated that problem. This today is part of the solution. When I see nearly 100 new families joining the community of Cloverdale, it speaks to the number [of people] seeking to be part of this project and in this building as their home.”
Chris Colbeck, vice-president of sales and marketing for developer Townline Homes, said that the response so far has been “overwhelming.” Colbeck explained that they had received more than 1,900 registrations for the 97 available units.
“We have intentionally designed The Bristol to have a variety of home types and sizes to appeal to a wide demographic, including our live-work residences at grade,” said Colbeck.
“The most popular [unit] is the one bedrooms,” said Colbeck during the tour. “Everybody wants the larger size, but expectations change when the numbers don’t work for them.”