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Concert remains committed to rental housing after 24 years
Vancouver, BC, Canada – Concert has recently completed its latest rental community in Vancouver, the first such development in 13 years. Located on the campus of the University of British Columbia, Axis has enjoyed tremendous leasing success. Prior to building completion, over 80% of the 174 suites have already been leased with residents scheduled to move in for September 2013.
Concert was formed in 1989 as a response to the need for rental housing in the City of Vancouver. While the company has diversified by geography and asset class over the years, Concert has never lost sight of its original mandate. Despite challenges in recent years to make the development of rental feasible in Vancouver, Concert successfully expanded into the Toronto rental market. Since 2001, Concert has developed over 2,100 rental homes in Toronto and is known as the City’s largest developer of purpose-built rental housing.
“Axis is the latest addition to a portfolio of exceptional rental communities in Vancouver and Toronto," said Brian McCauley, Concert's President and COO. "Its completion is the result of a long-held, company-wide commitment to building and managing quality rental communities; its impressive market acceptance is a testament to the ongoing need for such communities."
Axis follows closely the completion of Motion, Concert's largest rental community to date located at the intersection of Bay and Dundas in downtown Toronto. Today, Concert has over 4,000 rental apartments in its portfolio, with a further 300 to be added in the next six months with the completion of One32 in Toronto and The Q Apartments in Victoria.
With operations in British Columbia, Alberta and Ontario, Concert is an award-winning diversified real estate enterprise with expertise in developing rental, condominium and seniors housing; developing and acquiring commercial, industrial and infrastructure properties; and property management. www.ConcertProperties.com
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