Government backs construction of 215 rental units in Vancouver

The Government of Canada is investing $107.5 million in loans to Marcon Development for the construction of a 19-storey high-rise with 215 rental units in Vancouver. The high-rise will feature studio apartments, and one-, two-, and three-bedroom units, and will be located near the 41 Avenue Canada Line Skytrain station, parks, schools, and grocery stores. Nic Paolella, Marcon executive vice president, and Taleeb Noormohamed, MP for Vancouver Granville, both expressed their enthusiasm for the initiative, which is expected to be completed in June 2025.