The four-storey Oviedo building, currently under construction at 1293 Best Street, is expected to open late next year. (Aaron Hinks photo)

Purpose-built rental building under construction in White Rock

The four-storey, 28-unit facility is to be complete by late next year

In a rare move for developers targeting White Rock, Oviedo Developments is constructing a purpose-built rental-only apartment building in the city.

Of the 15 major construction projects taking place throughout White Rock, only one other building is rental-only, according to the city’s Construction Portal.

Oceana Parc, located at 1575 George Street, is to include 198 rental units, but vacancy is reserved for seniors.

The four-storey Oviedo building, currently under construction at 1293 Best St., will be available for families.

The 28-unit project features suites ranging in size from 1,042 square-foot two-bedrooms to 1,600 square-foot three-bedrooms.

Oviedo Developments owner Kanwar Dhamrait, who lives in White Rock, told Peace Arch News Friday that he expects the project to be complete late next year.

He said the reason Oviedo went with a rental-only building is because there’s “a lot of demand in the community… and there’s no rental available in White Rock.”

White Rock has a zero per cent availability of bachelor and two-bedroom suites, and a 0.1 per cent availability of one-bedroom suites, according to a Metro Vancouver rental market report.

“Profit is not everything,” Dhamrait said. “You need to give back to the community sometimes – that’s what I’m doing.”

Dhamrait said the building will be managed by Oviedo, “everything is going to be done in house.”

In March, City of White Rock planner Jessica Jiang gave a presentation to the Peninsula Homeless to Housing Task Force, and explained that purpose-built rental buildings aren’t financially rewarding for developers – compared to condominiums, which can be sold.

In a news release issued Thursday, Dhamrait made note of the city’s Rental Housing Task Force. He wrote that the city committee worked diligently to gain understanding and assess needs for the community.

“The importance of providing housing for young families and the workforce is vital to ensuring the housing needs of everyone and are met in an ever-changing community,” the release notes. “Oviedo took that need to heart in the decision to make this project fully rental stock.”

Oviedo is also currently in the process of constructing ALTUS, a 126-apartment, 13-storey building at 1556 Finlay St. Of the 126 apartments, 16 are expected to be rental.

Just Posted

Surrey Central SkyTrain Station upgrades completed

It’s the seventh station along Expo Line to see upgrades completed. Construction began in March 2017

Semiahmoo Trail students surpass Coldest Night fundraising goal

Rocco Forte and his team are third-year participants in Saturday’s Coldest Night of the Year walk

Tardi and team playoff bound in junior curling worlds tonight

Friday night Team Canada’s men’s team faces off against Norway, hoping to secure a spot in the finals

Surrey students learn the ins and outs of business through workers’ co-operative

Mentors work with youth in voluntary after-school program

Pink Shirt Day a reminder to ‘T.H.I.N.K.’ before posting on social media

‘Be Kind’ message on shirts sold for anti-bullying activities of Wednesday, Feb. 27

Fraser Health closes all pools at Harrison Hot Springs

Public pool available after all five mineral pools closed until Monday

Man sentenced to 7 years for smuggling drugs and shooting at border guards in Sumas

Nathan Hall was arrested in Abbotsford in 2013 after day-long manhunt

No treatment for highly infectious measles, says doctor

10 cases of measles confirmed in Vancouver as of Friday

Two more measles cases confirmed in Vancouver

It brings the number of total cases within the city connected to the outbreak to ten

B.C. Special Olympics officially underway in Vernon

Athlete’s Oath: “Let me win. But if I cannot win, let me be brave in the attempt.”

Vancouver Aquarium wants your help to name a baby killer whale

The public helped name Springer’s first calf, Spirit, and is being asked to help with the second

Guards protest firing of fellow officers charged with assault at B.C. prison

Corrections officers demonstrated in Maple Ridge on Friday afternoon

Skier dies at Revelstoke Mountain Resort

Cause of death for young man has not been released

Most Read