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Plans for the proposed rental housing project are well underway with construction targeted for 2025

VANCOUVER, CANADA – March 12, 2025 – The newly formed Easthill Development Limited Partnership, which is led by OpenForm Properties (“OpenForm”) and Epta Development Corp (“EDC”), announced plans today to collaborate on a new residential and commercial development at the northeast corner of Broadway and Renfrew Street in Vancouver. EDC acquired the property in 2018 and has been working with staff at the City of Vancouver to envision a comprehensive development plan for this transit-oriented site under the Moderate Income Rental Housing Pilot Program (MIRHPP).

The project being developed by this venture falls within the Rupert Renfrew Station Area Plan and the current development plan has received initial approvals from the City of Vancouver. OpenForm and EDC intend to work with City staff to envision a modified development proposal that will align with the emerging policy context designated for the area. One that the City of Vancouver, alongside announced initiatives to promote Transit Oriented Development (TOD) by the Provincial Government, has prescribed additional height and density within the updated draft area plan, expected to be finalized for council consideration early 2025.

“The City of Vancouver has a growing need for more housing options, including both market and below-market rental housing adjacent key transit infrastructure. This project has meaningful scale and will help form part of the solution,” added EDC Principal, Alex B. Tsakumis.

“We’re pleased to be joining forces on this project with a highly experienced and respected local developer in OpenForm to deliver an exceptional product that will add positively to the local community.”

"We are thrilled to partner with EDC, a trusted friend and now a valued partner, to enhance the livability and vibrancy of this exciting new area in Vancouver," said OpenForm Properties Principal, Jason Turcotte.

“This collaboration presents a unique opportunity to bring our shared vision to life, creating a dynamic and energetic community centered around a key transit hub. Together, we are committed to building a future that reflects the innovative spirit and growth of our city."

The project spanning a full city block fronting Renfrew Street is scheduled to commence construction in the second half of 2025 with completion of the two proposed buildings expected in 2028.

About OpenForm
As an entrepreneurial developer with a proven track record, OpenForm Properties, along with our sister company OpenRoad Auto Group, is driven to build exceptionally well-designed, high-quality commercial, industrial, and residential developments that meet the needs of an ever-changing world. For over 45 years, the award-winning OpenRoad Auto Group has been built on a foundation of customer service, innovation, and inspirational placemaking. With a diverse portfolio that includes residential strata, rental, commercial, and industrial projects, OpenForm Properties continues to lead in community building and innovative development.

About EDC
EDC is a second generation, family office real estate investor and property developer based in Vancouver B.C., Canada. In operation since the 1980’s, our company has focused on creating innovative and successful development projects across all asset classes from residential communities to industrial warehousing in Canada, United States and the United Kingdom. Core to our investment mandate is our entrepreneurial spirit and focus on sourcing and executing on opportunities to deliver market leading absolute returns.

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