Nicola Wealth Real Estate and Townline Celebrate Completion of Meridian Residential Project in Coquitlam, B.C.

Vancouver, BC, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Nicola Wealth Real Estate (NWRE) and Townline are pleased to announce the completion of Meridian, a landmark 37-storey residential rental apartment project located at 515 Cottonwood Avenue in Coquitlam, B.C. The project, a joint venture between NWRE and Townline, brings 267 thoughtfully designed rental homes to the thriving Burquitlam neighbourhood, including nine units leased to BC Housing to support affordable housing. The 267 homes include a mix of market rental units and units which are dedicated to supporting middle-income households.

Situated just a four-minute walk from the Burquitlam SkyTrain Station on the Evergreen Line, Meridian offers convenient access to public transit, nearby amenities like SFU, Burnaby Lake, Burnaby Mountain, and Douglas College, as well as popular recreational spots such as Rocky Point Park.

“We are thrilled to have partnered with Townline on this significant project. Their expertise in development and construction has been invaluable, and together we’ve delivered a high-quality residential community that will meet the needs of renters in the lower mainland,” said Mark Hannah, Executive Managing Director and Head of Real Estate at Nicola Wealth.

Rick Ilich, Founder and CEO of Townline, added, “We are proud to partner with Nicola Wealth to bring these amenity-rich homes to a growing, transit-oriented community. We look forward to building on Meridian’s success and partnering on future projects with the industry leaders at Nicola Wealth Real Estate.”

Meridian is set to welcome its first residents in November 2024. Designed with renters in mind, Meridian offers 1-3 bedroom homes, including townhomes, all equipped with premium finishes and a wide range of modern conveniences.

Retail Component

In addition to its residential offering, Meridian boasts approximately 10,000 square feet of commercial retail space, which is fully leased to popular tenants including Dos Bros, Pur&Simple, and Anytime Fitness.

With modern interiors, generous outdoor spaces, and a host of amenities designed to enhance residents' quality of life, Meridian is poised to be a vibrant community hub in Burquitlam.

Building Features and Amenities

Residents of Meridian will enjoy exclusive access to a variety of high-end amenities located on the 3rd and 37th floors, including:

• A state-of-the-art fitness room, yoga studio, and strength area
• Rooftop Sky Lounge with panoramic views of Metro Vancouver and Burnaby Mountain
• Outdoor patios with grilling stations, a firepit lounge, and terrace dining area
• Co-working spaces, study rooms, games rooms, and lounges
• A dog run, parcel lockers, secure underground parking with EV-ready stalls, and keyless entry systems for enhanced security and convenience

About Nicola Wealth Real Estate

Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a premier Canadian financial planning and investment firm with over $16.4 billion (CAD) of assets under management as at October 29, 2024. NWRE has an experienced and innovative team that sources and asset manages a growing portfolio of properties in major markets across North America spanning a diversified range of asset classes which include industrial, self-storage, multi-family rental apartment, retail, seniors housing, and office. The Nicola Wealth Real Estate portfolio now exceeds $10 billion gross asset value. For more information, please visit realestate.nicolawealth.com.

About Townline

Townline is known for its innovative living solutions and unparalleled attention to detail. For over 40 years, every Townline project – from single-family homes and townhomes to concrete high-rise towers and mixed-use communities – has been defined by a strong focus on homeowner and tenant experience, purposeful design, and an unwavering commitment to enriching the cities and communities we build in. This is the Townline Way.

The Townline Way is defined by our honesty, attention to detail, and thoughtfulness in all that we do. Our strong relationships are an important part of this – with our customers, our tenants, our partners, and our communities. Townline is deeply involved at each stage of every project, with in-house development, finance, construction, marketing, sales and leasing, asset management, property management and customer care teams.