Over 50 people gathered last Thursday, June 15, to celebrate the start of construction at one of Vancouver’s largest rental developments. The Cascades – as the development is now known – is located at 622 SW Marine Drive and is Chard Development’s largest development to date. Chard President & CEO, Byron Chard, was joined by Vancouver Mayor Ken Sim and Erin Seeley, CEO of YWCA Metro Vancouver. All donned hardhats and shovels to celebrate this milestone and recognize a project that will contribute to Vancouver’s need for rental housing with close to 600 units of purpose-built rental living.
This two-tower purpose-built rental project is just a 4-minute walk from the Marine Drive Skytrain Station. The Cascades will bring a mix of studio, one-, two- and three-bedroom rental homes to the South Vancouver neighbourhood of Marine Landing. Twenty percent of the homes will be offered at below-market rental rates, contributing to the expansion of Vancouver’s portfolio of affordable rental homes without displacement of a single existing residential tenant. In collaboration with the YWCA Metro Vancouver, a longstanding partner of Chard Development, 28 of these homes will be designated as deeply-affordable housing units, providing a safe haven for female-led single-parent families in need.
Once complete, The Cascades will be professionally managed by Chard Property Group, and will serve as a community anchor, with a dedicated childcare facility, retail space, and a vibrant public plaza including outdoor ping pong tables, picnic areas, and a variety of family- and pet-friendly amenities. In addition, all residents of The Cascades will enjoy over 20,000 square feet of interior amenity space, including a sport court, gym with integrated juice bar, golf simulators, dog lounge, co-working spaces, guest suites, rooftop terraces, and more.
We are excited to mark this significant milestone and will continue to share news on the project’s progress towards completion. To stay up to date on Chard’s news for this development and others, make sure you subscribe to our newsletter.