PC Urban has acquired a 0.8 acre site in New Westminster with plans to develop their first residential concrete high-rise purpose built rental tower.
This centrally located site, a 616-640 Sixth Street in the heart of Uptown New Westminster, is close to multiple amenities, including the Royal Centre Mall and the New Westminster Public Library. This project is also in close proximity to the city’s transit lines connecting residents to downtown Vancouver.
New Westminster has the highest percentage of renters in Metro Vancouver, with the lowest vacancy rates in the region. With a high population growth rate, this new rental development will not only alleviate the growing demand for rental housing in the area but also act as a catalyst in the revitalization of the Uptown community.
The proposed development plan is to build a 29-storey residential building containing 338 market rental homes, 10 of which will be below-market rental homes. In addition, there is 10,000 sq ft of planned commercial space. PC Urban plans to deliver this latest rental project in Q1 2025.