Richmond-based developer Tien Sher has announced that its newest project, a four-storey building in Surrey, will be home to the country’s smallest condos.
The development will have 56 micro-suites, with some as small as 290 square feet.
“One of the frustrating things for me as a developer is hearing, over and over again, about affordability and not being able to provide something for the people who make anywhere from minimum wage to about $20 to $22 an hour,” said Charan Sethi, Tien Sher’s president.
Sethi explained his company did considerable research by talking to younger people, and found that while they really wanted homes to call their own, they weren’t concerned about size and would be willing to compromise in that area.
“It’s going to be really well-received,” he said, but went on to say that the project itself is not going to be a “big money-maker.”
“The reality is, if you build a small building with small units, the cost of the kitchen is the same, the bathroom’s the same, everything becomes the same.”
Sethi said he is talking to other municipalities to see if they’ll allow similar developments.
