The vibrant community of Mount Pleasant in Vancouver is witnessing a significant development as construction has officially begun on a landmark 24-storey rental housing tower at 701 Kingsway. This ambitious project is set to deliver 200 secured purpose-built rental homes, comprising 160 market rental units and 40 below-market units, addressing the pressing need for affordable housing in the area.
In addition to residential units, the development will feature over 6,000 square feet of retail and restaurant space at street level, enhancing the local economy and providing residents with convenient access to amenities. This project is particularly noteworthy as it is among the first major initiatives under the Broadway Plan to commence construction, marking a positive step forward in urban development.
The rezoning application for this project received approval from the Vancouver City Council in November 2024, followed by the development permit application approval in April 2025. These approvals reflect the city’s commitment to increasing housing availability amidst challenging market conditions, including rising construction costs and high borrowing rates.
Henry McQueen, a representative from Qualex-Landmark, expressed enthusiasm about the groundbreaking, stating, “This is really happening. Groundbreakings are few and far between these days, so when we get the chance to celebrate one, we should.” He emphasized the importance of turning plans into tangible buildings, adding, “You can’t live in an approval. At some point, plans need to become buildings.”
The project will also include two underground levels featuring 60 vehicle parking stalls and nearly 400 secured bike parking spaces, promoting sustainable transportation options for residents. The site is conveniently served by frequent TransLink bus routes along Kingsway and Fraser Street, ensuring easy access to public transit.
As construction progresses, community members and local officials are optimistic about the positive impact this landmark development will have on the neighborhood. It represents a significant investment in the future of Mount Pleasant, aiming to create a vibrant, inclusive community for all residents.
With the construction now underway, observers are eager to see how this project will unfold and contribute to the ongoing transformation of Vancouver’s urban landscape.
