Element Lifestyle Retirement Inc. has received the final stage of approval for the issuance of a development permit from the city of Vancouver for its flagship retirement residence in Cambie Village, Vancouver, British Columbia.
The approximatey $74 million senior living community, Opal by element, will have a courtyard and rooftop patios, as well as views of downtown and mountains toward the north.
The retirement community will be comprised of about 142,000 square feet with 44 residential condominiums (these units will be available for sale to seniors), 56 rental apartments, and 30 complex care units. Opal will feature dedicated spaces for multigenerational activities and intergenerational living.
Element is the development and operations consultant to Opal Retirement Inc., the owner of the Opal project. Construction is fully financed and is anticipated to begin as soon as demolition and excavation permits are approved this fall.
