The first purpose-built market rental highrise to go up in the West End for close to 30 years opened its doors to tenants this month.
The Lauren, located at 1051 Broughton, contains 186 units, including six affordable housing units administered by Dr. Peter AIDS Foundation and Qmunity, BC's LGBTQ resource centre.
The building was the first project approved under the City of Vancouver's Short Term Incentives for Rental (STIR) program.
"There weren't that many incentives [from STIR] other than an expedited approval process and slightly increased density," said residential leasing manager Trevor Shumka.
However, without that added density, the project would likely have been developed as condos, he added.
According to Shumka, 60 to 70 per cent of new tenants at The Lauren are coming from elsewhere in the West End, underscoring the need for new rental properties in the neighbourhood.
"This community desperately needs quality rental properties," he said.
The building also features green space with public artwork constructed from materials from the former church that used to be located on the site.
"That will all be open to the public," Shumka. "We're committed to this neighbourhood for the longterm."
Rents in the building start at $1,175.
