Darwin Properties has begun construction on Phase 1 of Lonsdale Square, a 6.6 acre development that will transform the upper area of Lonsdale. One of the largest projects ever built in the City of North Vancouver, this upcoming mixed-used community will feature more than 800 new homes, including seniors housing, non-profit and below market rental housing, a new 2.25 acre city park and revitalized Harry Jerome Community Recreation Centre.
Phase 1 construction will include a 113-unit rental building with 8,000 square feet of retail space, a partnership between Darwin Properties and Minto Properties Inc. Phase 1 will also include the first seniors assisted housing in the city in 30 years. This facility will be six storeys with 100 units for assisted living and memory care.
“The vision for this new community is to create a hub that brings renewed energy, activity and amenities to the north end of the Lonsdale corridor and to build more housing options for all stages of life in the North Vancouver community,” says Oliver Webbe, CEO, Darwin Properties. “With the new Harry Jerome Rec Centre, this area will become a vibrant, new energy centre on the North Shore. As a North Vancouver company, we have worked hard to create a development that residents can enjoy for generations to come.”
Minto is providing financing for the development of the 113-unit rental building and will be the REIT’s entrance into the Vancouver-area market.
“Phase I of Lonsdale Square is Minto’s first investment in the Greater Vancouver Area, and we are proud to be partnering with Darwin on this exciting project,” says Michael Waters, CEO of Minto.
The overall Lonsdale Square development will include a variety of residential, commercial and amenity space to address the current and future needs of this North Shore community. At complete build-out, Lonsdale Square will encompass almost 700,000 square feet of office, retail and residential use. The second phase will include residential condos with additional rental housing, as well as restaurants, retail amenities and daycare facilities.
Completion of Phase 1 is expected in 2023.