The much-needed rental housing supply will answer the needs of the province’s sharply growing population, builder says
Demand for rental housing in Canada continues to accelerate amid steady increases in population numbers and purchasing power, according to market players.
With the national unemployment rate recently reaching a record low of 4.9%, regions such as British Columbia are primed for further developments, said Vancouver-based home builder Mosaic Homes.
BC currently sports one of the highest population growth rates nationwide at 7.6%, a trend that Mosaic Homes said it seeks to answer with greater rental housing supply.
Among its latest projects is Mosaic Living, a 520-unit portfolio spread across multiple Lower Mainland communities. The initiative was launched in collaboration with Canada Mortgage and Housing Corporation and BC Housing.
“Here to reimagine renting, Mosaic Living provides modern apartments and townhomes for those looking to call the Lower Mainland ‘home’,” the builder said.
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“Housing supply is top of mind for those living in the Lower Mainland or considering relocating to the region,” added Geoff Duyker, senior vice president of marketing at Mosaic Homes.
“Purpose-built Mosaic Living rental homes add needed supply to the housing market while offering residents a better rental experience – brand-new and professionally managed homes that are pet friendly and located in great neighbourhoods. Each community in our Mosaic Living portfolio stands close to key transportation hubs, giving residents easy access and connectivity to work, school, and amenities.”
