Tinnakorn Lofts is a classic situation that small business faces. With a successful business in Downtown Vancouver , and housing prices steadily increasing for their staff, our clients decided to purchase a small parcel of surplus land owned by the City of Vancouver and create a mixed use, multifamily property . That was back in 2016 . The long and winding road led them toward completion of construction sometime in March 2020. That timeline was significantly delayed with the construction shut down by Governor Inslee .
They’ve navigated their bank loan, the State of Washington , and now hopefully the City will help ensure they can get the property occupied as we end the month of June. Great example of local property ownership .
Our research, and experience these past three months lead us to believe, there is still demand for multi family housing in a growing Vancouver. As summer arrives , leases expire, renters will be seeking to relocate or transition to a new residence. There will be twenty one rental units on three floors. The property also includes two commercial spaces on the first floor.