Oxford marks the completion of Canada’s largest co-op redevelopment with return of residents at Ashley Mar

VANCOUVER

Oxford Properties Group (“Oxford”), a leading global real estate investor, developer and manager, along with Intracorp Homes (“Intracorp”), today welcomed residents back to the Ashley Mar Housing Co-operative (“Ashley Mar” or the “Co-op”) marking the completion of Canada’s largest co-op housing renewal project. Members will now return home to newly built residences following a successful partnership between the Co-op, Oxford, and Intracorp to replace the 54 aging town homes with 125 modern, high-quality apartments. 

Located in South Vancouver’s Marpole neighbourhood, this historic mixed-use redevelopment includes SIGNAL, comprised of two new purpose-built rental towers with 524 suites on the former Ashley Mar Co-op site. This comprehensive residential redevelopment increases the total capacity of the 1.5-acre site to 649 suites with commercial space, all steps from the Marine Gateway SkyTrain Station. SIGNAL began welcoming its first residents this past summer. 

“The return of residents at Ashley Mar represents yet another key milestone for Oxford in Western Canada and demonstrates what is possible when the private and public sector collaborate to address the housing challenges we face as a nation,” said Sherif Masood, Head of Asset Management and Development, Canada, at Oxford Properties. “We are renewing aging co-op housing, more than doubling its capacity, and bringing much-needed, quality rental housing to this transit connected corridor while preserving the sense of community that has been established at the Co-op over its three-decade history.” 

A model of forward-thinking innovative development, the project provides Co-op members with modern, sustainable housing and adds thoughtful density to support population growth in an area already well-served by transit. 

The project represents a significant investment from Oxford Properties, and with support from its local partner Intracorp, involved strong collaboration with the Co-op to double its impact in the community by housing over twice the amount of people, and bring much-needed rental capacity to South Vancouver. The new 16-storey Ashley Mar building will remain owned and operated by the Co-op, to ensure the sense of community it has built is safeguarded. 

“Maintaining housing that’s over 40 years old is a challenge for any organization, especially a co-operative. Our community will benefit greatly from the new residences and the expanded co-op membership this redevelopment has made possible. This project has given our community an opportunity to grow while providing enhanced, modern amenities for our members. We’re delighted with how Intracorp and Oxford have worked with Ashley Mar to create a vibrant, inclusive neighbourhood, and we look forward to welcoming new residents to the area,” said Aziz Ibrahim, Ashley Mar Housing Co-operative Board Member. 

The new Ashley Mar Co-op provides residents with amenities that foster community connection and everyday convenience. Features include a lending library for tools and equipment, play areas for children, a fitness studio, indoor and outdoor gathering spaces, and rooftop terraces for members to socialize and relax with family and friends. 

“After more than eight years of dedication and hard work, Ashley Mar and SIGNAL now provide 125 co-op homes and over 500 rental homes – one of the largest co-op renewal projects in North America,” said Evan Allegretto, President of Intracorp Homes, BC. This achievement is a testament to the vision and persistence of the Co-op and its members, and I hope it inspires other co-ops to take bold steps toward renewal as the need for affordable housing continues to grow.”