There is very little information on the Condo development proposed for Block 16. It is planned as a 14 floor building with 80 units. Gramor Development has some architectural drawings up for the proposed condo tower on block 16. I have them here and they are available in greater detail on Gramor’s Waterfront website. This is a sharp looking building.
This project appears to be one that Gramor may be looking for a partner or investor to get this started. The Waterfront has been a smashing success and the downtown condo market is fairly tight on inventory.
Rents in the waterfront apartment buildings are fetching 175%-250% of the local median rent. These units are filling up fast. Condos in this location would be a true premium product. This is the last block that fronts the water and only one other tower is featuring condos and that is Kirkland Tower, under construction now. Kirkland will feature 40 luxury units in a 12 story high rise. Condos on the 8th-11th floor at the 16 year old, Viewpoint Vancouver Center fetch north of $1 million for a two bed unit in the 2000 SF range. That building is not on the waterfront! Kirkland is rumored to have prices starting at $1 million and pushing towards $5 million for larger and higher units.