A near two decades-long partnership between B.C. firms Grosvenor and Citimark is now developing its fifth project: the 68-townhome community Whitford in Vancouver’s Shaughnessy neighbourhood.

Whitford, where construction is to begin in a few weeks, will offer one- to three-bedroom townhomes on a property which formerly contained seven residential lots. The housing densification will be a “significant improvement in the affordability” Marc Josephson, Grosvenor’s senior vice-president of development, told RENX Homes in an interview.

Having previously delivered on 15West and the high-rise Polaris, the “true partnership” based on shared values and collaborating on delivering “a project that we both are keen to be involved in” has co-developed around 500 homes, Josephson said.

“We have always been developers of residential within the Lower Mainland. Perhaps this is at a lower density than is typical for us but given how special the location is and our excitement to work again with Citimark on a high-quality development, we were really enthusiastic about this site . . . It absolutely fits within the type of developments that we readily build.”

Headquartered in London, England, Grosvenor has developed mixed-use and residential properties in the Lower Mainland of B.C. for over 70 years, including Grosvenor Ambleside and The Pacific by Grosvenor. It has over $6-billion of master-planned developments in its pipeline across the region.

Citimark is a Richmond, B.C.-based residential developer behind Belle Isle in North Vancouver and Crofton in Richmond. It is led by founder and president Nelson Chan.

From single-family homes to denser housing

The land for Whitford was acquired by Grosvenor and Citimark in 2021, and originally planned for duplexes. But with their knowledge of the policies and zoning in the Phase 3 Cambie Corridor Plan, the partners understood it could also be designated for townhomes up to three storeys. Rezoning was completed in July 2022.

“We analyzed the site based on that development potential and made the decision to move forward and went through the process working with the city to map out the rezoning process and the design and development process.”

The co-developers were able to reach the full floor space ratio to deliver 68 townhomes.

The average size of a home in Whitford will be 960 square feet. Approximately 70 per cent of the units will be three-bedroom homes; 20 per cent two-bedroom units; and the remainder will be one-bedroom units.

One-bedroom homes will start at $899,900, with larger models expected to start at $1,899,900.

The first sales release completed two months ago and is sold out, selling 20 of the 68 units. The next release of homes has not yet been scheduled, Josephson said.

Most buyers are locals from Greater Vancouver expecting to move into the townhomes upon completion. Customers include families with children, young couples looking to start a family, retirees and empty nesters.

“Ultimately, people that are very familiar with all of the attributes of this location,” Josephson said. “Either people that are looking to remain in the neighbourhood or people that have wanted to find an opportunity to live in the neighbourhood.”

Whitford is planned to be built out by the end of 2026 to early 2027. Pre-construction is taking place, with existing houses on the site being demolished and the site being cleared.

As for amenities, Whitford will be across the street from VanDusen Botanical Garden and Oak Meadows Park. The Canada Line rapid transit system will be within walking distance. Oakridge Centre and Queen Elizabeth Park will be a longer trip away.

Grosvenor’s neighbouring Mayfair West development on a 14-acre site will be close by.

Developing in a slower market

Mayfair West is one of two other master-planned communities Grosvenor has in development. It will include condos, rentals, social housing, a community park and retail options such as restaurants and cafes. The plan also includes a child-care facility. Grosvenor is working to bring it to market soon, Josephson said.

Brentwood Block, a six-tower site planned to include approximately 3,500 condo and rental units, approximately 250,000 square feet of commercial space and a community centre, is the second site. It includes one of the largest rental housing components in Metro Vancouver and an all-rental tower, Grosvenor says.

Grosvenor’s projects are emerging when development costs have risen because of high interest rates, placing pressure on developers, Josephson explained. But with additional interest rate cuts expected, he hopes development viability and purchaser comfort and enthusiasm will improve.

“We’ve seen success we’ve had at Whitford, that there is absolutely demand out there that is waiting to move forward, waiting for the right home and the right location by the right developer.”