Saturday, January 23, 2010

Downtown Eastside to Introduce New Vancouver Micro Lofts - Small Condos at 18 West Hastings Street - Affordable Vancouver Rental Housing

Vancouver Micro Lofts Coming to Downtown Soon!

Downtown Vancouver Micro Lofts are coming to the eastside at Burns Block 18 West Hastings Street.Small condos also known as downtown Vancouver Micro Lofts will soon be coming to town. Providing new and affordable housing, thirty of these Vancouver micro lofts will be built by the same team that built the Woodwards Gastown high-rise condo and mixed use development. On Monday, the announcement will be made about the creation of 30 micro lofts for downtown Vancouver Eastside by Reliance Properties Ltd. And ITC Construction Group. The redevelopment of the downtown Vancouver Eastside real estate district wil be made at 18 West Hastings. Currently, the historic Burns Block complex is on site and the redevelopment will consist of a redo of the six storey Burns Block in the Vancouver micro lofts or small condos. The micro lofts of Vancouver will consist of 270 sq ft units and will represent the smallest rental units in the entire units. It is compared as being two parking stalls at two hundred and seventy square feet, meaning that these tight spaces will do away with modern doodads and other things not required for daily living. The official launch and announcement of the Vancouver Micro Lofts coming to 18 West Hastings Street will be this coming Monday, January 25th, 2010. With the launch of 30 new affordable rental housing units in the downtown Eastside of Vancouver, the area will gradually redevelop into a liveable and sustainable community says the development team. By cutting out all the non-essentials that usually go into the construction and pricing on new pre-construction condos, these new Vancouver Micro Lofts at 18 West Hastings Street will have minimal features that are not essential for daily living, providing more affordable spaces. The initial designs will be released soon, and according to some analysts, the 270 sqft micro lofts will contain beautiful bathrooms and kitchens as well as built in beds. In addition, these downtown Vancouver micro-lofts will also have over height ceilings. While the project was originally passed by Vancouver City Council back in 2008, no movement has been made as the construction team was busy working on the Woodwards Gastown project.

More about Micro Lofts in Vancouver Eastsid

With much research having been done on the viability and liveability within a micro loft in downtown Vancouver Eastside, many people have compared these compact living spaces to those that have successfully been built and integrated into cities within Asia as well as Europe. In many cases, a lot of people are not willing to give up on the amount of living space they have be cause of comfort and reliability of storage. However, with property prices and rental rates still skyrocketing in downtown Vancouver, these Vancouver micro lofts in the eastside of downtown will provide affordable rental housing for those who require a better price point but can sacrifice space. The vacancy rates are at all time lows and a typical bachelor suite now goes for roughly $950 per square foot. These new Vancouver micro lofts will be slightly smaller, but will provide a more affordable rental rate for those interested. Let’s see how the grand opening announcement of this 18 West Hastings Vancouver micro loft project and its reaction will be on Monday before making judgement calls.

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