Developers of the highly anticipated Rainbow Plaza, a residential and commercial property slated for the Rainbow subdivision, are hoping to finalize the property's commercial tenants by the end of the year.
The project, which will include 65 rental units and 2,230 square metres (24,000 square feet) of commercial space, is slated for completion by late spring 2016. Work was originally expected to wrap up in the fall of 2015.
So far, only Loblaws, which plans to open a 1,394-sq.-m. boutique grocery store similar to CityMarket operating in North Vancouver, and a 223-sq.-m. Chevron service station have signed on as commercial tenants, confirmed Doug Porozni of Calgary-based developer Ronmor.
"We're working with a number of other tenants for the balance," he added.
The property will feature retail space on the ground level with a variety of residential units above. The plans include: two one-bedroom units, 37 two-bedroom units, four two-bedroom units with den and six two-storey units that Porozni hopes will enter the rental pool.
"This will be condominiumized (sic), so the units can be sold, but we feel there's a very strong rental market (in Whistler), so we'll probably go that route," he said.
Porozni added that he expects market interest for the units to pick up once construction is further along.
"(We're going to) get more information out for people once we're a little closer to getting there," he said. "We'll start to see some framing this summer and then I think people will know it's more real, and they'll give us a call."
Part of the work will also include improvements to a nearby park on Crazy Canuck Drive.