Wilby Residences

Overview

Wilby Residences is a completely rebuilt four-storey building thoughtfully demised into a 9-suite (+ 1 caretaker unit) retirement / independent living facility. Construction is scheduled for completion in November 2023 and the building will be delivered vacant for leasing.

The property sits on a 5,469 SF RT-5 zoned lot located at the corner of Charles Street and Victoria Drive, two blocks east of Commercial Drive in the heart of Grandview-Woodland. This unique offering represents an attractive opportunity for investment in the fast-growing seniors housing market, while supplying residents with an alternative to the large institutional facilities. Sufficient for:

• Owner users
• Non-profits or government entities
• Seniors assisted living facility operators

The nine private suites range from 205 to 349 SF and each feature an open living space, large accessible bathroom, and closet. Seven suites have private balconies overlooking the extensively landscaped corner lot. Common areas include a commercial kitchen, dining area, and activity / living room on the main floor; library/sitting room on the second floor; and a caretaker suite, office and storage rooms on the upper floor. A large two-car garage off the rear lane houses the laundry and utility rooms; laundry machines to be supplied by the buyer.

Highlights

• Architecturally designed, purpose-built facility designed and permitted specifically to service the growing seniors housing market.
• Large commercial elevator & wheelchair accessibility
• New energy-efficient construction.
• High-quality interior finishes.
• Commercial grade kitchen with make-up air intake system. Kitchen appliances to be supplied by the buyer.
• Garavanta lift servicing the first three floors.
• Radiant in-floor heating on Levels 1-3 and radiators on Level 4, fueled by a gas boiler and heat exchanger.
• Air conditioning in the kitchen and all of Levels 3 and 4; ERV mechanical ventilation throughout.
• Fully sprinklered.

Location

The property is located on the northeast corner of Charles Street and Victoria Drive, in East Vancouver’s Grandview-Woodland, one of the most culturally diverse neighbourhoods in the city. Situated in a quiet, pedestrian-friendly area just two blocks east of Commercial Drive, the property provides residents with easy access to amenities, community centres and parks.

The Commercial Drive corridor has a distinct European flavour that you can’t find anywhere else in the city. Sidewalk cafes, small boutiques, bakery and pastry shops, all mingle with the everyday conveniences such as banks, grocery stores, and hardware stores. The area is well serviced by public transit with both bus and Skytrain station nearby. With an increasing population base in the neighborhood, the area has grown to be a vibrant and desirable district.