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Maple View Heights Apartments

Location

7288 Maple Street, Mission, BC

Asset Type

6-storey, 105-unit, purpose-built rental apartment building

Acquired

March 2021

Site Area

1.08 acres (47,045 sq. ft.)

Net Leasable Area

72,129 sq. ft.

The site is well-located on Highway 7 (“Lougheed Highway”) just west of downtown Mission, 64-kilometres east of the City of Vancouver and 8-kilometres north of the City of Abbotsford. The West Coast Express provides commuter rail service between Downtown Vancouver and Mission City on weekdays, with five trains per day in each direction: five in the morning to downtown Vancouver, and five in the evening to Mission. Mission City Station is located 900 metres (a 15-minute walk) from View & Maple.

The Fraser Valley is experiencing a record-setting housing boom as people opt to move from central urban cores to suburban locations and work from home in a larger space for the same or less money. Mission (pop. 38,833) is one of the fastest-growing cities in Western Canada with an average annual growth rate of 2.2% over the past five years, versus the provincial average of 1.8%. Yet, there is a limited inventory of rental units – just 445 in 2019 with an overall vacancy rate of 0.2% – one of the lowest rates in Metro Vancouver.

Highlights

  • Mission is one of the fastest-growing cities in Western Canada
  • Site is 900 metres (15 min walk) from West Coast Express/Mission City Station
  • Upon completion, Maple View Heights Apartments will add 94 market rental dwelling units and 11 affordable rental dwelling units to Mission’s housing stock

Construction Progress

May 2022

April 2022

March 2022

February 2022

January 2022

December 2021

November 2021

October 2021

September 2021

August 2021

July 2021

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