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You can stay way down in the valley where most of the employees live, or you could potentially live all the way in Vancouver. Just ask the people your gonna work with.
You can't stay in Vancouver. That's fucking stupid. Pemberton and Squamish are stupid too, unless you have a car, and tons of time/gas to piss away on commuting. You need to live in Whistler. You'll either get there early and get a decent place, or get there in October and pay $650/month for an aussie closet, while your roommates are paying $500/month for a full bedroom with a closet the size of your ENTIRE ROOM.
Living in Vancouver is NOT an option if you are planning on living the Whistler life. You can count on a 1.5 hour drive (unless you're slow) to North Van. Getting anywhere else in Van will tack on .5-1.5 hours more depending on traffic and location(and more for that Olympics highway reconstruction delays). But, aside from all of that RENT IS NOT CHEAPER IN VAN (unless you're talking East Van). Example, my 1 bedroom +den 500-600 sq. ft. apartment in the West End (beside downtown) was $1200/month CAD. Groceries are cheaper, but you'll make that up in gas.
As for Pembie or Squamish...too far away. Unless you have a car...but still a pain in that biotch.
Living in Whistler in a 4+ bedroom house is your cheapest and best bet. Look at the Pique Magazine online version. Go to the classifieds and find a sweet house with some good roomies. Good luck and hope I was somewhat helpful!!!