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22 DECEMBER 2021
Grosvenor and Citimark announce the purchase of an assembly of eight lots located on Oak Street and 37th Avenue with plans to design and build approximately 70 new townhomes on the site. As part of the City of Vancouver’s Phase 3 Cambie Corridor Plan, Grosvenor and Citimark will create new forms of housing near transit, amenities, employment spaces, and services.
The site is located directly across the street from VanDusen Botanical Garden and Oak Meadows Park and is close to some of Vancouver’s most sought after elementary and secondary schools. Located just a few blocks from the geographic centre of the City of Vancouver, the property is also ideally situated close to Oakridge Centre, Queen Elizabeth Park and the Canada Line Station providing access to Downtown Vancouver within 10 minutes. The site is one of the few remaining sites on Oak Street planned for townhome development.
“We have been developing in the Lower Mainland for almost 70 years, and this is our first townhome development in Vancouver.” says Marc Josephson, Grosvenor Americas’ Senior Vice President, Development. “Shaughnessy is one of the most sought-after neighbourhoods in Vancouver. We’re excited to bring 70 new townhomes to this part of the city where this form of housing for families is in high demand and short supply.”
Over the past 20 years, Grosvenor and Citimark have developed more than 500 homes together in Greater Vancouver. This project marks Grosvenor and Citimark’s fifth development together. Notable projects include 15West in North Vancouver, and the recently completed Metrotown high-rise, Polaris.
“Citimark is excited to be working together again with the high calibre team at Grosvenor to bring our newest family-oriented townhome development to the Shaughnessy neighborhood,” says Citimark President Nelson Chan. “We look forward to our continued partnership to create a positive influence in the communities we build in.”
Grosvenor and Citimark also announce two internationally acclaimed consultants on the project: Formwerks Architectural and interior design firm, Ste. Marie Studio. The vision for the project is to be visually distinctive and contemporary while keeping with the Shaughnessy neighbourhood character, with an emphasis on timeless material selection and well-considered details.
This new community will follow in the footsteps of recent award-winning Grosvenor developments such as Grosvenor Ambleside in West Vancouver and The Pacific in Vancouver as well as Citimark’s sizeable family-oriented developments, Belle Isle and Ebb & Flow townhomes in North Vancouver.
Vice President, Project Marketing, Grosvenor Property Americas
+1 604 640 3504