Several high-profile pre-sale condo projects by big-name developers have recently launched or are set to launch shortly in Burnaby’s Metrotown neighbourhood in Metro Vancouver. The five projects, which include Citizen by Anthem Properties, Riviera by Ledingham McAllister, Reign (South Tower) by Wesgroup, Solhouse 6035 by Bosa Properties, and Greenhouse by Concord Pacific, are all located within walking distance of the Metropolis at Metrotown shopping centre and total just under 1,600 units. While there are risks associated with pre-sales, developers may feel the need to start recouping costs and time to absorb all their inventory. The Metrotown area may also see another wave of launches in the future.

Both parties have received final approval recently, which could lead to another round of competition in the near future.

The Details of 5 Presales – Metrotown In Burnaby Is The Focal Point Of The Presale Condo-World

The Metrotown neighbourhood in Burnaby has become a focal point in the pre-sale condo market, with five major projects recently launching sales or about to do so in Metro Vancouver.

While pre-sales do carry risks, those who are comfortable with these risks and looking to enter the market are now turning their attention to Metrotown. This bustling neighborhood has garnered attention due to a collection of high-profile projects by renowned developers that have either recently been launched or are set to debut soon.

These projects include Citizen by Anthem Properties, a massive 66-storey tower situated on 4663 Kingsway. Riviera by Ledingham McAllister is another notable development, with its striking 38-storey tower located on 496 Bennett Street. Wesgroup’s Reign (South Tower) stands tall at 35 storeys and can be found on 628 Willingdon Avenue. Bosa Properties is making a mark with their 50-storey Solhouse 6035 on Wilson Avenue, while Concord Pacific’s 43-storey Greenhouse on Barker Avenue completes the lineup.

All five projects are conveniently within walking distance of the Metropolis at Metrotown shopping center and in close proximity to one another. In total, nearly 1,600 units will hit the market simultaneously. (For those looking beyond Metrotown, City of Lougheed Tower Three by Shape Properties, Icon by Ledingham McAllister, and Etoile Gold by Millennium Development also join the pool of Burnaby launches.)

It’s worth noting that all five projects have been in the planning stages for an extended period. Proposals were initially submitted to the City of Burnaby over three years ago, with some even dating back over five years.

“It is quite unusual and surprising to see all these projects launching simultaneously while the market is still somewhat uncertain,” says Suzana Goncalves, EVP of Sales and Marketing for MLA Canada.

Developers must gauge sufficient market demand to achieve their pre-sale targets, typically around 60% to 65%, in order to secure construction financing within 12 months. However, there comes a point where waiting may not be an option. Developers may have active construction teams or a desire to start recouping costs.

Goncalves highlights that Anthem Properties, with its extensive experience, is among the most active developers in uncertain conditions. Wesgroup, with two towers planned for their Metrotown site, may have the motivation to kickstart at least the first tower. Ledingham McAllister, on the other hand, began construction on their development a couple of years ago and may have felt the need to recoup costs and clear inventory.

A sixth project, Metro21 by Shokai, originally intended to launch around the same time, has been delayed until next year. The decision to postpone may have been driven by the presence of several big-name players entering the market simultaneously, prompting a strategic move to capture attention as a new shining object in the new year.

In terms of price points, the Metrotown area generally ranges from $1,225 to $1,450 per square foot, positioning it within the medium-to-high range compared to Metro Vancouver as a whole. Riviera and Reign fall toward the lower end of this spectrum, while Concord and Bosa lean towards the higher end.

While Goncalves points out that there is no immediate precedent for this cluster of launches in Burnaby, other areas like Surrey City Centre and West Coquitlam have witnessed competing towers. However, the concentration of this many units within a 15-minute walking radius, as seen in Metrotown, is relatively uncommon.

Nonetheless, the uniqueness of the Metrotown area lies in the possibility of experiencing another wave of development. Just since June of this year, proposals for a three-tower project by Peterson Group and a 33-storey development by OpenForm Properties have emerged within the same 15-minute radius. Meanwhile, Anthem’s 34-storey tower on Marlborough Avenue and the multi-tower second phase of Concord Pacific’s Metrotown community has recently received final approval, foreshadowing another round of head-to-head competition in the near future.

Summary

The Metrotown neighbourhood in Burnaby, Vancouver is the center of attention in the pre-sale condo world. Five major projects by well-known developers have recently launched or are set to launch in the area. These projects, including towers by Anthem Properties, Ledingham McAllister, Wesgroup, Bosa Properties, and Concord Pacific, are all within walking distance of each other and the Metropolis at Metrotown shopping center. Combined, they add up to nearly 1,600 units entering the market at the same time. This concentration of launches in such a specific location is uncommon for Burnaby. The projects have been in the works for several years but are being released amidst uncertain market conditions.

Developers aim to meet pre-sale targets to secure construction financing within a year. While the timing may seem unusual, developers like Anthem Properties and Wesgroup have the experience and resources to proceed confidently. Prices in the Metrotown area range from $1,225 to $1,450 per sq. ft, with some projects leaning towards the lower end and others towards the higher end of the spectrum. This cluster of launches in the Metrotown area may not be the last, as there are already proposed projects and approved developments that could lead to further competition in the future.

Shape Properties’ The Amazing Brentwood development in Burnaby, Canada, is set to add a 56-storey rental tower with 641 units to its sprawling master plan. Tower Seven will be located on the northwest corner of the 28-acre site and will include co-working space, meeting rooms, a gym and yoga room, as well as a lounge and children’s play space. The tower will also feature 11,379 sq ft of commercial space. The development is expected to have up to 10 residential towers, over 1.3 million sq ft of retail space and nearly 500,000 sq ft of office space once complete.

The Details of Beautiful Brentwood Tower 7 by Shape Properties Will Rise To a Height of 56 Storeys

The Amazing Brentwood, the center of Burnaby’s Brentwood neighbourhood, is still expanding. This month, ahead of a public hearing scheduled for the end of November, information regarding the next tower in the expansive master plan was made public.

The Amazing Brentwood, a development in Burnaby’s Brentwood neighbourhood, is expanding with the construction of Tower Seven. The tower will be 56 storeys high and will consist of 641 rental units. It will offer a mix of studio, one-bedroom, two-bedroom, and three-bedroom apartments. The amenities in the tower will include a co-working space, meeting rooms, a dog wash station, a gym, a yoga room, a fitness center, a lounge, an entertainment room, a dining space, and a children’s play space.

Tower Seven will also feature 11,379 sq. ft of commercial space, including retail units along Brentwood Boulevard and Ridgelawn Drive. There will be a total of 368 vehicle parking spaces and 1,429 bicycle parking spaces available in the underground parkade.

The tower’s design will have a unique identity while still maintaining a similar “design language” to the other towers in The Amazing Brentwood development. It will have a strong vertical expression when viewed from the south and a more broken-down composition on the north side.

An application for Tower Seven’s rezoning was submitted earlier this year by Shape Properties. The proposal was sent to a public hearing by Council on October 30 and is set for Tuesday, November 28.

Interestingly, Shape Properties and Arcadis IBI Group have also submitted an alternate proposal for a 61-storey tower with a six-storey office podium that would include office space. However, there has been no mention of this alternate proposal in the Council’s report or during the public hearing.

The Amazing Brentwood

Tower Seven is part of Phase 2C of The Amazing Brentwood development, which follows the completion of Tower Five and Tower Six. The overall project aims to include up to 10 residential towers, retail space of over 1,300,000 sq. ft, and office space of nearly 500,000 sq. ft once fully completed.

The redesigned shopping center and the first three towers comprised the project’s initial phase. The site’s southeast corner will see the construction of additional buildings in the third phase, which will come after the second phase and include additional residential towers and additional renovations to the site’s central mall.

Neighbourhood One of The Amazing Brentwood is being dubbed by Shape Properties for the first three towers, while Neighbourhood Two will consist of Towers Five, Six, and Seven (there isn’t a Tower Four).

Wrapping Up

Burnaby’s Brentwood neighbourhood is set to see the construction of Tower Seven, the next addition to Shape Properties’ The Amazing Brentwood development. The 56-storey rental tower will feature 641 units, with a mix of studios, one-, two-, and three-bedrooms. Amenities will include co-working space, a gym, a lounge, and a children’s play space. The tower will also include retail units and underground parking. Toronto-based Arcadis IBI Group will serve as the architect for the project. Additionally, an alternate proposal for a 61-storey tower with a six-storey office podium has been submitted. The Amazing Brentwood development is expected to feature 10 residential towers, retail space, and office space once complete.

The Burnaby city council has approved the second phase of the Concord Metrotown development, which includes five high-rise towers with over 2,000 homes. The development will consist of mixed-tenure buildings with strata condos, market rental and non-market rental homes, as well as an office/hospitality tower. The project faced criticism last year for its “tiny” studio units, but the council gave unanimous final approval for the project. The amenities in the buildings will include fitness centres, meeting rooms, children’s play areas, wellness spas, work lounges, guest suites and kitchen spaces. Construction is planned to occur in an east to west pattern.

More Information about The 5 New Metrotown Towers, 60 Storeys and Over 2,000 Homes

The city council of Burnaby has given its unanimous approval for the development of five new towers in the Metrotown area. These towers, which can reach up to 60 storeys high, will provide over 2,000 homes. The Concord Metrotown development will consist of various types of buildings, including strata condos, market rental units, and non-market rental homes. Additionally, there will be an office/hospitality tower as part of the project.

The approval for Phase 2 of the development comes after some controversy last year regarding the size of the studio units, with criticisms that they were too small to be livable. This “tiny” studio units, which one member described as “not livable” and it is included in non-market rental studios measuring 323 square feet.

Green Party Councilor Mike Hurley and Mayor Mike Hurley are independents. Joe Keithley voted against the project during its second of four major approvals; however, he and the rest of the council approved the project during its third and fourth approvals.

The massive Concord Metrotown development has received unanimous final approval from the Burnaby city council for Phase 2, which is expected to result in the construction of nearly 2,200 new homes.

Five highrise towers are part of the Metrotown Mall project (4750 Kingsway):.

Phase 2A consists of two tall, mixed-tenure, high-rise buildings that are 40 and 49 stories tall.
A fifty-eight-story mixed-tenure market strata/market rental/non-market rental building (above restaurant and retail uses; Phase 2B).
A sixty-story market rental tower (Phase 2C).
A forty-seven-story office/hospitality tower (Phase 2C).

Phases 2A and 2B will include a total of 1,145 market strata units, 131 market rental units, and 188 non-market rental units. The unit count for Phase 2C will be determined later but is estimated to be around 722 market rental units.

The development will also provide ample parking spaces for both residential and commercial uses, including over 5,000 bicycle parking spaces.

Construction will take place in an east to west pattern, with Phase 2A being completed before Phase 2B.

The buildings in Phase 2 will offer a range of amenities, including fitness centers, meeting rooms, play areas for children, and wellness spas. The rooftops of these buildings will be landscaped with lawn areas, dog runs, and dining facilities. There will also be garden plots for urban agriculture.

This development is part of the larger Sears Metrotown master plan, now known as the Concord Metrotown, which was approved by the council in 2019. The first phase of development included over 1,300 homes.

Wrapping Up

The Burnaby City Council has granted final approval to Phase 2 of the Concord Metrotown development, which will introduce nearly 2,200 new homes to the market. The project, located at Metrotown mall, consists of five high-rise towers, including mixed-tenure buildings, market rental units, non-market rental homes, and an office/hospitality tower.

The development faced criticism in the past for its small studio units, but it has received unanimous approval from the council. Phases 2A and 2B will offer a combination of market strata units, market rental units, and non-market rental units, while Phase 2C will primarily consist of market rental units. The developer plans to complete Phases 2A and 2B simultaneously, depending on market conditions. The project will also provide ample parking spaces and amenities such as fitness centers, meeting rooms, and landscaped rooftops. The council had previously approved the master plan and first phase of development for the project in 2019.

Amacon Construction Ltd. has proposed a 61-storey tower with over 540 new homes, a hotel, and restaurant in Burnaby’s Brentwood Town Centre. The development will also include a rental project at 5166 Halifax St. and will feature a mix of market strata condos, market rentals, and non-market rentals. The project will also have a gym, meeting rooms, indoor workspace, and outdoor deck with a pool. The proposed development includes over 600 vehicle parking stalls and more than 1,500 bike parking spaces. Additionally, Amacon is proposing two six-storey rental buildings on the Halifax site to replace an aging rental building with 87 units.

The Details About The Proposed 61-storey Tower, Restaurant, and Hotel

A new highrise development is set to transform Brentwood Town Centre in Burnaby with over 540 modern homes, as well as a hotel and restaurant. Amacon Construction Ltd. has submitted a proposal for a remarkable 61-storey tower located at 2211 and 2271 Rosser Ave., which will be complemented by a rental project at 5166 Halifax St.

The Rosser development aims to offer a dynamic experience with a 172-room hotel, restaurant, and commercial establishments along Dawson Street. The project includes 442 market strata condos, 27 market rentals, 42 non-market rentals available at 20% below the Canada Mortgage and Housing Corp.’s median rent. There will be 30 non-market units at CMHC’s median rental.

Featuring exceptional amenities, this development will provide residents with a gym, lounge space, meeting rooms, and indoor workspace. Hotel guests will have access to meeting rooms, a gym, and an outdoor deck with a pool. The hotel restaurant will include an inviting outdoor patio.

The development has been meticulously designed to accommodate a possible future landscape-covered deck above the adjacent railway. This project aims to prioritize convenience by providing over 600 vehicle parking stalls and more than 1,500 bike parking spaces.

Adjacent to the proposed Rosser development lies a city-owned lane that is marked for closure under the Brentwood Town Centre plan. The value of the land sale will be evaluated in a separate report, which will be presented to the council for consideration at a later date. The sale of this land is a prerequisite for the progress of the Rosser development.

Additionally, Amacon is proposing two six-storey rental buildings on the Halifax site in order to transfer some market density from the Halifax Street development. This will support the viability of the Halifax site, as it cannot accommodate a building taller than six storeys. These buildings will replace an aging rental building with 87 units and offer both non-market and market rental units. Tenants from Halifax will be able to temporarily relocate to the Rosser site until the Halifax buildings are ready for occupation.

The overall plan for this development includes a total of 257 rental units, comprising of 126 market rental units, 87 units to replace the demolished ones (rented at their previous rate), and 44 units rented at CMHC market median rates. The amenities provided will be extensive, including a multi-purpose room and lounge for the non-market rentals, yoga and fitness facilities, an outdoor lounge and barbecue area, and an urban agriculture space for the market rental building. Moreover, the development will feature a beautifully landscaped area adorned with artificial lawn areas for bocce ball facilities, an exterior fitness space, outdoor games flex-space, and a children’s play area complete with a playground.

With a commitment to providing a vibrant community hub, this proposed development promises to enhance Brentwood Town Centre’s allure and cater to the needs of its residents.

Wrapping Up

Amacon Construction Ltd. has submitted a development proposal for a highrise tower in Brentwood Town Centre, Burnaby. The project includes more than 540 new homes, a hotel, a restaurant, and commercial units. The tower, which is planned to be 61 storeys, will also feature a 172-room hotel and various amenities such as a gym, meeting rooms, and indoor workspace. The development will include a mix of market and non-market condos and rentals, with some units rented at below median rates according to the Canada Mortgage and Housing Corp. The proposal also includes plans for a potential future landscape-covered deck and ample parking and bicycle spaces.

The developer is also proposing the construction of two six-storey rental buildings on another site in Brentwood to replace an existing aging rental building. The displaced tenants from this site will be temporarily relocated to the Rosser development until the new buildings are ready. The rental buildings will offer a range of amenities, including fitness facilities, outdoor lounges, barbecue areas, and children’s play areas. The City of Burnaby will consider the sale of city-owned land to facilitate the Rosser development.

A new development proposal in Brentwood, Canada, aims to build two highrise towers reaching up to 62 storeys. Millennium Properties Ltd. plans to construct a residential strata building, a market and non-market rental building, and a 280-room hotel along Lougheed Highway. The project, which includes a total of 824 new homes, is the first to be presented under the recently approved Buchanan West master plan. The development also includes plans for improved pedestrian and cycling infrastructure, as well as upgrades to the highway.

The project will require the closure of a lane and a portion of the highway, which will be sold by the city to the developer pending council approval. The development is designed to be architecturally exceptional and maximize access to natural light. Building amenities will include co-working spaces, children’s play areas, fitness facilities, and a swimming pool.

Introducing an Exciting Development on Lougheed Highway Burnaby

Are you looking for a modern, vibrant community to call home? Look no further than Brentwood, where two stunning highrise towers are set to transform the skyline. Millennium Properties Ltd. has proposed an impressive development comprising a 62-storey residential strata building, a 54-storey market and non-market rental building, and an exquisite 280-room hotel with ground-oriented retail.

This ambitious project, located at 4141 Lougheed Hwy., offers both residents and visitors a unique blend of luxury, convenience, and flexibility. The commercial podium, which can be repurposed for offices or other employment options, ensures adaptability to changing market demands. With a total of 824 new homes, including market and non-market rentals as well as strata units, the development caters to a diverse range of lifestyle preferences.

As part of the recently approved Buchanan West master plan, this development sets the stage for future growth and prosperity. The integration of a publicly accessible north-south pedestrian connection and a new east-west local street fosters connectivity within the community. Residents will enjoy seamless access to amenities, shops, and green spaces, further enhancing their quality of life.

Architecturally exceptional, the highrises are thoughtfully designed in a checkerboard pattern, maximizing building separation and optimizing natural light. This attention to detail ensures a visually striking presence while complementing the surrounding environment and future development.

Thoughtful parking solutions, including shared residential and commercial spaces, accommodate the needs of both residents and visitors. Moreover, the provision of ample bicycle parking guarantees a sustainable, active lifestyle for all. Upgrades to Lougheed Highway, such as separate sidewalks, cycle facilities, rain gardens, and a picturesque treed boulevard, are also part of the plans, elevating the overall experience.

In line with the development’s progress, the closure of a lane adjoining the property and a portion of the highway has been identified as surplus to the city’s transportation and infrastructure requirements. The city, therefore, plans to present a separate report detailing the sale of this land, pending council approval. This land sale is a crucial step towards advancing the development.

Delving into the many exciting amenities on offer, residents will be spoilt for choice. Co-working spaces and multi-purpose rooms cater to the dynamic needs of professionals, while indoor children’s play areas ensure a welcoming environment for families. Kitchen and dining facilities, guest suites, fitness centers, and a swimming pool further enhance the living experience. Additionally, outdoor spaces on the ground level of the podium create a tranquil oasis for relaxation and recreation.

Summary

Millennium Properties Ltd. has proposed a development on Lougheed Highway that includes two high-rise towers, one residential and one rental, a 280-room hotel, and ground-level retail. The project would include a total of 824 new homes, with 488 market strata units, 246 market rental units, and 90 non-market rental units.

The forthcoming development marks the initial phase of the recently greenlit Buchanan West master plan. Notably, this ambitious project encompasses not only enhancements to Lougheed Highway but also the addition of separated sidewalks, cycle lanes, enchanting rain gardens, and a lush treed boulevard. The proposed building will boast an array of exceptional amenities, including contemporary co-working spaces and versatile multipurpose rooms. For families, indoor children’s play areas will provide endless entertainment, while well-equipped kitchen and dining facilities will cater to culinary endeavors. Additionally, the inclusion of guest suites, state-of-the-art fitness facilities, and a refreshing swimming pool guarantees a truly elevated living experience.

The Burnaby City Council will hold a public hearing on various developments and bylaw changes, including the construction of highrise towers and urban villages. The developments include two highrise towers on North Road, two towers in Brentwood Town Centre, an urban village in Willingdon Lands, an urban village in Burnaby Lake Heights, and non-market rentals on 11th Avenue. The public can attend the hearing in person or virtually via Zoom. Amenities for the developments include fitness centers, swimming pools, co-working spaces, and rooftop terraces.

The project aims to help homeless seniors, women with children, and individuals at risk of homelessness. The City of Burnaby will provide funding and land for the project. A proposed amendment to the Burnaby Zoning Bylaw includes changes to definitions and regulations related to retaining walls, car wash facilities, temporary buildings, and density in the R12 District.

About The 5 Burnaby Developments

Next week (Oct 31st, 2023), there will be public hearings in Burnaby regarding five different developments and changes to the bylaws. These include the construction of highrise towers, the creation of urban villages, and amendments to zoning regulations.

The public can attend the hearings either in person at Burnaby City Hall or virtually through Zoom. More information on how to participate can be found on the city’s website.

One of the developments up for discussion is the construction of two highrise towers on North Road. The proposed plan includes a 56-storey residential building and a 43-storey rental building, along with commercial and retail spaces. The developer is Canderel, and the project was first presented to the council in June 2021.

Another development is the Brentwood West Phases 1 and 2, which involve the construction of a 60-storey tower and a 43-storey tower. These towers will be mixed-tenure apartment buildings with a commercial podium. The developer is Bosa Development, and the project was first presented in February 2023.

There is also the Willingdon Lands Phase 1 urban village, which includes the construction of three buildings for residential purposes. The developer is Aquilini Development, and the project is located near BCIT. The plan includes different types of housing, both rental and strata units.

Another urban village project is the Burnaby Lake Heights Phase 1. This development will feature two midrise buildings with live-work units and underground parking. The developer is Create Urban Development Corp., and the project is located in the Burnaby Lake Heights / Bainbridge Urban Village.

Lastly, there will be discussions about establishing guidelines for non-market rental housing on 11th Avenue. The city of Burnaby is the developer in this case, and the goal is to construct non-market housing units on a city-owned site.

The Bylaw Amendment

In addition to these developments, there will also be proposed changes to the Burnaby Zoning Bylaw. The amendments aim to clarify definitions and regulations related to various aspects of zoning, such as retaining walls, car wash facilities, temporary buildings, and density in specific districts.

Key Highlights Of The Upcoming Hearing

High-Rise Towers on North Road:

The purpose of this project is to enable the construction of a high-density mixed-use development, which includes a 56-storey high-rise strata residential building and a 43-storey high-rise rental building on a commercial podium featuring offices and street-fronting retail. The developer, Canderel, has proposed transforming the Lougheed Town Centre neighborhood. The project was first presented to the council on June 14, 2021.

Exciting features of this plan include:

The 56-storey high-rise consists of 456 market condos, ranging from studios to three-bedroom units.

The 43-storey rental tower comprises 239 market rental units in studios to two-bedroom layouts, along with 77 non-market rental units offering studios to two-bedroom options.

Prominent amenities encompass lobbies with a concierge service, a fitness centre, a swimming pool, a hot tub, a sauna, a digital theatre lounge, a yoga studio, a basketball court, a music room, lounges, co-working spaces, and meeting rooms.

Brentwood West Phases 1 and 2: 60-Storey and 43-Storey Towers:

These phases involve constructing two high-rise mixed-tenure apartment buildings over a commercial podium in the Brentwood Town Centre neighborhood. The project, proposed by Bosa Development in collaboration with Chris Dikeakos Architects, was introduced to the council on Feb. 6, 2023.

Key elements of this plan include:

The 1.75-acre site at 443 Halifax St. and 1801 Willingdon Ave. currently houses older commercial buildings, while the remaining parcel at 4488 Halifax St. is vacant.

The first tower will comprise 472 market strata condos available in one-bedroom to three-bedroom configurations, along with 77 non-market rental units ranging from studios to three-bedrooms.

The second tower will offer 266 market rental units featuring one-bedroom to two-bedroom layouts.

Noteworthy amenities encompass fitness and yoga facilities, a roof deck, individual sky lounges for each tower, a mail room, and parcel storage.

Willingdon Lands Phase 1 Urban Village:

This project aims to enable the construction of a multi-family residential development, incorporating three buildings situated above underground parking. These buildings will consist of a six-storey non-market rental building, a 14-storey mixed-market rental and non-market rental building, and a 20-storey leasehold strata building featuring street-oriented townhomes. The developer, Aquilini Development, is set to transform the Willingdon Lands neighborhood, located alongside BCIT. The proposal was initially presented to the council on Oct. 3, 2022.

Key components of this plan include:

The plan entails constructing 267 leasehold strata units, ranging from studios to three bedrooms.

Additionally, the development will offer 213 market rentals available in studios to two-bedroom layouts, 91 non-market rentals rented 20 percent below market median in studios to three-bedroom setups, and 51 non-market rentals rented at market median in studios and one-bedrooms.

Exciting amenities proposed include a fitness room, co-working lounge, boardroom, rooftop with children’s play area and urban agriculture, mail room, barbecue areas, green roof, and lounge with a full kitchen.

Burnaby Lake Heights Ph 1 Urban Village:

This phase aims to permit the construction of two mid-rise residential buildings, located above live-work units and underground parking. The project, presented by Create Urban Development Corp., will transform the Burnaby Lake Heights/Bainbridge Urban Village neighborhood. The proposal was introduced to the council on Oct. 3, 2022.

Key highlights of this plan include:

Phase 1’s location at 700 Lougheed Hwy. on the south side of Lougheed, situated between Bainbridge Avenue and Sperling Avenue.

The current site is utilized as a surface parking lot, with a temporary use for commercial fleet vehicle parking and an accessory dispatch office.

The project comprises a 14-storey strata and non-market building along Lougheed Highway and a 12-storey strata building located between the Esplanade and the Serpentine, along the western edge of the site.

The development proposes a total of 512 units, with 446 market strata units and 66 non-market rentals.

Exciting amenities entail a multi-purpose room, lounge, fitness facility, rooftop, and terrace.

Non-Market Rentals on 11th Avenue:

The aim of this project is to establish development guidelines for the site to facilitate the construction of non-market rental housing. The City of Burnaby is spearheading this initiative in the Newcombe neighborhood. The staff submitted a proposal to the Canada Mortgage and Housing Corp. in March 2023.

Key elements of this plan include:

8304 11th Ave – city-owned, designated for low-density multi-family development.

Across 11th Avenue, there is a new four-storey non-market housing development for the Elizabeth Fry Society of Greater Vancouver, also situated on city land. The site is currently vacant.

The staff’s plan, contingent on CMHC approval, involves constructing up to 38 units of non-market housing in studios to three-bedroom layouts. The target population benefits families, people with disabilities, seniors, and women with children at risk of homelessness.

The project’s funding will come from multiple levels of government, with the City of Burnaby contributing land and a $1.56-million grant to offset development costs, along with $450,000 allocated for city works and site preparation.