When given the option, more than 65 per cent of buyers in Cressey Development Group’s new multi-residential building in Vancouver said yes to an EV charger upgrade, installed by Hypercharge
A new multi-unit residential development in East Vancouver is getting 110 Level 2 electric vehicle charging stations after would-be buyers responded overwhelmingly to the choice of the optional upgrade.
The condo tower and townhome complex, called Format, belongs to real estate developer Cressey Development Group. Cressey’s charging partner is B.C.-based Hypercharge.
Hypercharge is a smart charging solutions provider that provides chargers for multi-family residences and commercial public parking sites.
The City of Vancouver’s building code, amended in 2018, requires new multi-family residential buildings must be 100 per cent EV-ready. All parking spaces for residents must have an energized outlet capable of providing Level 2 charging or higher.
At Format, Cressey did not want to just ensure its new construction was 100 per cent EV-ready with energized outlets and call it a day. They wanted to install some of the chargers in the parking stalls as well.
“Cressey is really forward-thinking,” says Chris Koch, head of growth and partnerships at Hypercharge in an interview with Electric Autonomy.
The real estate development company gave condo owners the option to upgrade their unit with an EV charger, explains Koch. Over 65 per cent of residents opted in.
“It’s clear that [charging] has become really a table-stakes amenity,” says Koch.
“Whether [residents] have an EV or not, they are seeing that [chargers] are an amenity they’re going to want to have. If it’s for them down the road for their next vehicle, or if they ever sell that unit…having that infrastructure to be able to put that on the list of amenities in the suite will make it a more saleable asset.”
Cressey Development and Hypercharge first worked together last year. Hypercharge set up four charging stations at Cressey’s headquarters in Vancouver, says Koch.
“Through Cressey’s experience working with us on that project and then exploring the various options that we presented them for this new project, they were interested. Both of us are excited to move forward together on this one,” says Koch.
The charger installations at Format are expected to be completed by the spring. Residents will move into the building starting this summer.
“At Cressey, we pride ourselves on customer service and therefore our partner relationships must demonstrate the same values,” said Nathan Gurvich, senior development manager at Cressey in a press statement.
“Hypercharge has established equal principles and brought innovative EV charging solutions and local market knowledge to our projects, all of which deliver on our high expectations.”
More chargers in more MURBs
For Hypercharge, installing chargers in residential construction is a wise economical decision. It’s also essential in order to overcome some of the major obstacles associated with EV adoption.
Currently, about one-third of Canadians live in multi-unit residential buildings (MURBs). And this proportion is likely to rise, especially in major urban areas, says Hypercharge.
Due to these rising figures, Hypercharge is cementing multiple deals with Canadian partners to increase access to chargers in buildings in order to be ready for the future.
In late 2022, Hypercharge partnered with both Tricon Residential Inc. and Diamond Kilmer Developments. For Tricon, Hypercharge is providing EV charging to two mixed-use commercial and residential properties. For Diamond Kilmer, it will be deploying 39 Level 2 chargers in the new residential development. Both projects are in Toronto.
“We know the two main obstacles for people to adopt electric vehicles and make the switch are the price of the vehicle…and the availability of convenient EV charging,” says Koch.
“If we’re able to put [charging] in all homes, that removes that barrier and will really accelerate the adoption of the electric vehicle.”