VANCOUVER, British Columbia, July 04, 2023 (GLOBE NEWSWIRE) -- Last week, Peterson Group broke ground on FRAME, one of two new concrete Vancouver construction project starts this year, located at Kingsway and Earles Street. A groundbreaking celebration took place to mark this significant project milestone that will see 217 much-needed homes take shape in Vancouver’s most well-connected urban core.
As Metro Vancouver anticipates a population surge, expecting to reach 3.8 million inhabitants by 2050, the Metro 2050 plan primarily emphasizes the necessity for homes in neighbourhoods that are conveniently close to rapid transit systems and urban centres. Nestled at the intersection of Kingsway and Earles, Peterson Group's FRAME community perfectly aligns with this vision. The community plans to introduce a mix of new commercial ownership and homeownership opportunities, comprising of one, two, and three-bedroom residences to the area.
Strategically located just a 10-minute walk from the 29th Avenue Skytrain Station, FRAME makes commuting Downtown and across the broader Metro Vancouver effortless. And with added enhancements to the street level and sidewalks, more pedestrian and bike-friendly modes of transportation will also soon be coming to the area.
FRAME's prime location is further enriched by its close proximity to renowned attractions like Trout Lake, Queen Elizabeth Park, and the buzzing Metrotown community. These collective attributes place the Kingsway corridor as the latest and most well-connected urban hub in Vancouver.
“We see the long-term potential of the Norquay Village Neighbourhood Centre Plan and evolution of the Kingsway Corridor,” says Brendan Yee, Director, Development, Peterson Group. “The vibrancy of the neighbourhood is what gets us most excited as FRAME is located at the centre of an evolving new retail hub and future community plaza. It’s the best value for concrete homes in all of Vancouver, and we’re thrilled to be bringing over 200 much-needed homes to this new urban centre.”
Spanning over the East and West towers, FRAME includes homes ranging from 515 to 1,127 square feet to meet the spatial needs of a variety of new families. Designed by GBL Architects, FRAME is a bold architectural landmark whose noteworthy ‘frame’ architecture is seamlessly transitioned into its interiors, where contrasting materials are utilized throughout. Beyond its contemporary design, FRAME will boast a wide range of building amenities, including two rooftop greenspace patios, a four-season entertainment lounge, a dining terrace with mountain views, and a cardio and strength training studio. At ground level, a collection of strata retail and commercial business spaces will further add to the community.
With full control of the project, Peterson Group has construction well underway at FRAME. Moving forward as intended, completion is anticipated by late 2025. For more information on FRAME, visit https://www.liveatframe.com/.
About Peterson Group
Starting from a single building on Alberni Street in Vancouver and extending to a range of projects across North America, Peterson Group has seen exponential growth, diversifying its capabilities within the real estate sector. Peterson Group holds ownership of 7.9 million square feet of income-generating properties and boasts over 2,300 residential and hospitality units. Further, it has also played a significant role in the development of an additional 16.2 million square feet of property. Despite our impressive growth, we remain rooted in our core values, prioritizing relationships, honouring our commitments, and continually striving to achieve 'Something Greater' in all our endeavours.
Media Contact
Nicole Jerick
Talk Shop Media
(604) 738-2220
nicole@talkshopmedia.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/774eccf0-5589-4776-abc1-ef297559293e
