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Thursday, June 20, 2024

Comma Properties: Rize’s new rental division launches

Comma Properties is a new, rental-focused division from Vancouver-based developer Rize Alliance Properties.

It will focus on the development of new rental communities, many with ground-floor retail space.

Comma Properties’ first project is on Fraser Street in Vancouver, a six-storey purpose-built rental building that will be complete by 2023.

The developer is targeting the ground-floor retail units at independent and locally-owned businesses, as opposed to chain retailers. The development will have 104 residential units, including below-market housing. The architects are Yamamoto Architecture.

Comma Properties project on Fraser Street
Project on Fraser Street. Credit: Rize Alliance

“With Comma Properties we want to shift the perception of what rental housing can be in our cities,” says Benn Duffell, vice-president of development at Rize. “We are inspired to build communities where rental will no longer be seen as lesser than homeownership.”

The developer will also be active in Los Angeles, with a co-living rental project in development in Sawtelle Japantown.

“As a progressive city for renters, Los Angeles is home to a thriving co-living scene where social programming and shared living are at the core of its community,” says Duffell. “We have been inspired by other cities with strong rental cultures and this is informing our work in Vancouver.”

Other Comma Properties projects currently underway include:

A 392-unit, mixed-use residential and heritage revitalization project along King George Boulevard in Surrey, pictured below, designed by Stantec Architecture.

Comma Properties project on King George Blvd. in Surrey
Project on King George Blvd. in Surrey. Credit: Rize Alliance

The heritage planner is Donald Luxton and Associates, and construction is expected to start this fall. It will include 392 units including below-market rental and 35,000 square feet of commercial space.

Also in the works is a rental project in UniverCity village on the SFU campus in Burnaby, pictured below, designed by Leckie Studio. The design is said to be inspired by Arthur Erickson and will include 168 units of mixed rental and co-housing, as well as a pocket park.

Comma Properties project at SFU in Burnaby
Comma Properties project at SFU in Burnaby. Credit: Rize Alliance

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Peter Meiszner
Peter Meiszner
Peter Meiszner is an experienced journalist and media relations professional, based in Vancouver. As founder of urbanYVR.com, he has been reporting on urban development across the Lower Mainland since 2016, and has also served as vice-chair of the Gastown Historic Area Planning Committee. In October 2022, he was elected to Vancouver city council and is no longer actively reporting for urbanYVR.

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