- What Endure Properties is selling a mixed-use development on Vancouver Island
- Why The brand-new complex is in the heart of the city’s downtown
- What next Commercial units are fully leased and residential units are nearing occupancy
Endure Properties is floating a newly built rental complex on Vancouver Island for $24m, Green Street News can reveal.
Palace Place, built in 2024, is a four-storey, 39-unit building at 397 Fifth Street in Courtenay. Macdonald Commercial has the marketing assignment.
The complex has 30 one-bedroom units and nine two-bedroom units, as well as four commercial units on the ground floor comprising 7,000 sq ft.
The commercial space is fully leased and the residential component, comprising 24,000 sq ft, is nearing total occupancy. Commercial tenants include Pharmasave and a Freyja bakery.
One-bedroom suites start at $1,650 for a 550 sq ft unit. Two-bedroom, 775 sq ft units start at $2,450.
There are 26 underground parking stalls in the complex. At ground level, there are two car-charging stations.
Situated in downtown Courtenay, the complex is close to an abundance of dining and shopping options.
Courtenay is home to about 30,000 residents, 90 km northwest of Nanaimo and 150 km northwest of Vancouver. The city is home to a large retirement community and has a need for new housing.
