New Vancouver Condominium Development at River District Targets First-Time Home Buyers

Paradigm is a three-component project that is part of the River District master plan in Vancouver.
Paradigm is a three-component project that is part of the River District master plan in Vancouver.
13 February 2020 Vancouver, Canada

Paradigm consists of three components: a 22-story tower, five-story mid-rise, and three-story town homes, with units ranging from 455 to 1,600 square feet (42 to 148 square meters).
There are a total of 268 units, and developer Wesgroup Properties says they’ve had an overwhelming response to the pre-sale launch, with over 500 people attending the sales center on opening weekend.

“The majority of our buyers to date have been first-time buyers and Paradigm was conceptualized with these home buyers in mind. Not only do the prices of our one-bedrooms start at $419,900 and two-bedrooms at $699,900, the finishes and amenities are not compromised in any way,” says Brad Jones, vice president of development at Wesgroup Properties.

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Paradigm is the latest tower at River District, a master-planned community along the Fraser River in southeast Vancouver.

Once complete, the neighborhood will be home to 15,000 residents and 7,000 homes, plus retail, restaurants and other amenities. The 130-acre (52-hectare) site is three times the size of Granville Island.

Jones says the River District vision is steadily taking shape, with several new retailers slated to join the community this year.

“The ongoing vision for River District is starting to becoming a reality with more retailers now opening, contributing to a more active and vibrant community. This year we also anticipate a daycare, additional restaurants including Browns Socialhouse, and other services like Shoppers Drug Mart to be opening.”

He adds the neighborhood is ideal for families, as well as first-time buyers seeking an affordable home ownership option with a Vancouver address.

“Situated in a quieter part of Vancouver, River District is a place for families to grow or to downsize and we see this occurring with new and existing residents in the area.”

For more on this story, go to Urban YVR. 

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