Edgar Development Breaks Ground on New Purpose-Built Rental Building in Mount Pleasant

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 11, 2015) - Vancouver-based Edgar Development is thrilled to be breaking ground today on a new development that offers 100 per cent of the residential units for rent. Scheduled for completion in August 2017, The Duke is the only new purpose built multi-family rental building in Vancouver's Mount Pleasant neighbourhood, providing over 200 new rental residences.

With apartment rental vacancies at an all-time low, sitting at only 1.4 per cent, the City of Vancouver has been encouraging rental supply. The Duke forms part of the City's Rental 100 Policy plan that aims to create 5,000 new units of market rental housing by 2021.

"There is a severe rental housing shortage in the City of Vancouver. People need quality alternatives to purchasing a condo. This project is part of the solution, bringing much needed housing to the undersupplied rental market," says Peter Edgar, President of Edgar Development.

The Duke will introduce a new standard to the rental experience in Mount Pleasant. The mixed-use 14-storey development will be located along the accessible transit hub at Broadway and Main. It will provide renters with convenient access to the many nearby amenities this area offers, from green space and craft breweries to independent boutiques and eateries. The Duke itself will feature a variety of amenities such as ground floor retail stores, underground bike storage, car share stalls, multiple furnished amenity decks, an inner courtyard that is visible from every suite and covered by a transparent canopy, a penthouse level indoor kitchen and dining space, and rooftop social spaces that feature a designated children's play area, dog run and barbeques.

The building's 201 rental suites will be comprised of a variety of units suited to everyone from families to single Millennials. Each suite includes granite countertops, a stainless steel appliance package, in-suite washer and dryer, dishwasher, and microwave.

Inspired by European architectural design, the building has LEED Gold designation and will feature a dramatic large-scale art installation by a prominent local artist that is to be suspended above the building's main entrance.

For more information on The Duke, please visit www.dukeliving.ca.

About Edgar Development

Established in 2009, Edgar Development is a Vancouver based real estate firm focused on development and investment opportunities in Western Canada. www.edgardevelopment.com