- Our building permit has now been issued.
- A fixed-price construction contract has been awarded.
- Construction has commenced.
- Industrial land prices increase.
- Locker rental rates continue to rise.
Building Permit Now Issued!
NationWide is pleased to announce that the City of Vancouver (“COV”) has now granted us both our building and development permits for our consolidated property at 1223 East Pender Street, Vancouver, BC (the “Pender Property”).
Further to receiving our permits, we are pleased to report that we have now completed the assembly of our development team comprised of experienced industry leaders in project management (“BTY Group”), self-storage architecture, design and engineering (“CTA Design Group”), self-storage construction (“Prism Construction”), and self-storage operations management (“StorageVault”). Collectively this group has designed and/or constructed over 30 modern self-storage facilities and StorageVault manages over 120 self-storage properties.
Through a competitive bidding process managed by BTY Group, we have awarded a fixed-price construction contract to Prism Construction. Prism has now commenced construction and estimates that the building will be completed in Q1 2019. As previously advised, our original target completion date was late Q4 2018, however the permit approval process with the COV changed mid-stream which required several modifications to our engineered plans.
Prism Construction is an experienced industrial and commercial building contractor and has been responsible for the construction of numerous large-scale buildings across BC. Prism specializes in self-storage facilities and offers the highest level of expertise and service as demonstrated by the successful completion of their projects.
Don’t Miss Our Updates!
We are pleased to announce that we have launched a new Pender Property Overview page on our website where you will find all relevant project details, the latest investor updates and our latest architectural drawings and building pictures.
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