Tien Sher hopes to build Canada’s smallest condo units.

Surrey, B.C. may soon be home to the country’s smallest condominium units.

Developer Tien Sher’s latest project, Balance, is a four-storey building with 56 micro suites, with the smallest to be just 290 square feet.

“We wanted to build suites that renters could afford to purchase today,” says Charan Sethi, president of Tien Sher. “With suites starting at $109,900, if you can afford the $6,000 down payment, and you make a salary of $17 per hour, we have a home for you.”

Sixty per cent of the Balance suites are 305 square feet or smaller. All micro suites will contain five stainless steel appliances, hardwood floors and a balcony. The largest suite in the complex is a one-bedroom at 653 square feet.

While prices are not finalized, Sethi says the profit margin is “very tight” on the project to keep the homes affordable. These homes will be the best prices in the Lower Mainland, the company says.

“With mortgage-amortization periods capped at 25 years, coupled with the high cost of developable land in the Lower Mainland, micro suites are a sensible and cost-effective option for single people looking to purchase their first home,” says Peter Simpson, president and CEO of the Greater Vancouver Home Builders’ Association. “This is an idea I expect to see emulated throughout the region in the years ahead.”

Surrey City Council must pass the project through three reviews and Tien Sher says it expects to begin sales in January. Young professionals, retail employees and single parents are among the anticipated buyers.

“No suite comes with a parking stall, but they are available for purchase,” says Sethi. “A 2012 parking study we commissioned showed most purchasers will forego car ownership and its associated costs in favour of an affordable home purchase…Who needs a car with such a short walk to municipal amenities, shopping and services?”