Restaurants, offices and apartments are on the rise at The Waterfront Vancouver. Now a luxury condo tower two years from opening is taking reservations.
Kirkland Tower, a 12-story condominium building, will include one-, two- and three-bedroom units ranging from 1,000 square feet to more than 3,000. Plans are for 40 units.
Bundling the tower with an eight-story Hotel Indigo next door and a two-level parking garage to support them, Vancouver firm Kirkland Development expects to pay $100 million for the project.
Kirkland Tower’s residents will be able to tap into a host of services, including the hotel’s, such as concierge, valet, food delivery, dry cleaning, room service and even dog washing. The first floor of both structures will combine for 17,000 square feet of retail space.
For pre-reservations, Kirkland Development is taking refundable deposits. Deposits will cost a percentage of the condo’s overall price tag, but the company declined to say what those prices would look like.
But they are clearly targeting people with deep pockets, said project manager Dana Gardner. She said company chairman Dean Kirkland has always envisioned the condos as offering a “boutique lifestyle.”
“It’s a luxury style, it’s not a first-time homebuyer lifestyle,” she said. One condo is already reserved, and the firm is “in talks” with a couple of other prospective buyers, Gardner said.
Construction is expected to start in April. Kirkland Tower is slated to open in spring 2020.
The dual buildings would be the sixth and seventh structures to break ground at The Waterfront Vancouver — after two restaurant buildings, a pair of apartments and an office building.
The first phase of construction will consist of a two-level parking garage with its own special amenities. Not only will there be 40 reserved units for condo owners, but 13 spaces will be “stackers” for multiple cars.
Although recent history shows that condominiums have been difficult to finance because lenders and developers feel that state law makes them vulnerable to lawsuits, Kirkland Development is undeterred.
“(Kirkland’s) name is on the building. There’s no desire to take shortcuts” in construction, Gardner said. “Being aware of (the risk), having the best time on it, that’s how we’re approaching it.”