Vancouver’s Element Lifestyle Retirement buys into master-planned neighbourhood
Ten buildings are planned for the master-planned 20-acre Bayview Place property in Victoria West at full buildout.
One of those will be a seniors-oriented building, following the recent sale of 1.96 acres of the land to Vancouver-based developer Element Lifestyle Retirement. The company plans to build a $75-million five-storey complex on the Kimta Street edge of the Bayview site with an aging-in-place theme. The initial design calls for 155 units, split between condominiums (50), rental units (70) and licensed care spaces (35).
“We’re very happy, very pleased with the selection of Element as the developer,” said Paul Corns, communications manager for Bayview Properties. “The designs that they have and the buildings they’ve built are of very high quality.”
Element is developing retirement properties on the mainland, including its high-end flagship, OPAL by element™ in Vancouver’s Cambie Village, and a 17-acre masterplanned intergenerational aging-in-place community in Langley, OASIS by element™.
The creation of an element at Bayview to allow seniors to age in place has been a part of the overall concept for the property from the beginning, noted Corns.
“It was always the case when we went for our zoning. We looked at a couple of different options, including developing age-in-place opportunities for seniors to come here and have a quality of life that will allow them to stay connected to the community,” he said.
“It’s a highly complimentary feature of the site to all the buildings that exist and it’s going to add great value to the community.”
The site already includes two condo towers built for Ken and Patricia Mariash’s Focus Equities by Bosa Properties: Promontory and Bayview One. A third tower, Encore, is underway but is already sold out and a fourth building is in the design phase in advance of seeking a development permit, Corns said.
Element bills the new development as providing a continuum of lifestyles from active, independent living to assisted and complex care. The project’s completion is projected for late 2020.
“We’re rethinking societal conventions of providing support and care in residences that single out an entire demographic by their age and need,” said Candy Ho, Element director and vice-president. “Element’s mission is to break through stigma and ageism, and create communities where people across all generations can thrive, together, as they grow and age in place.”
As well as residential buildings, the Bayview site plan calls for the creation of cultural, performance and retail amenities. The goal is to utilize the roundhouse buildings for some of these elements, such as a farmer’s market.
At full buildout the property will include 1.5 million square feet of residential development, which would make it the largest master-planned development area in the city.
For more information about Element’s plans, visit elementlifestyleretirement.com.
DON DESCOTEAU / OAK BAY NEWS
WED SEPTEMBER 13th, 2017 6:30 AM