[BURNABY] Reign | 104, 120m | 35, 38fl | U/C
 

https://dailyhive.com/vancouver/6280...avenue-burnaby

Developer Wesgroup Properties


https://www.urbanyvr.com/wp-content/...-condos-5.jpeg[/QUOTE]

Haven't seen that before and I wonder how well maintained those bikes will be over time. Also the transit pass subsidy is just weird, like why and for just one year?

This one is officially being marketed as "Reign" now, with a full website. Hope that means it's starting soon.

https://wesgroup.ca/reign/

I’m seeing ads for it everywhere online

I am most interested on what is the project shown between this and Standard?

Willingdon by Westland Living, same developer as Telford at Telford & Beresford. No rezoning has been submitted as far as I can tell.

https://i.imgur.com/lfyQhjd.jpg
Image from Westland / Chris Dikeakos Architects https://www.westlandliving.ca/homes/willingdon

Going to final reading this week.

Could have lined this stretch with retail... What a waste

Agreed.

Modello has some retail on the Willingdon-facing side of it's podium.

It's a pity the other three developments didn't follow suit and program some retail on that side too and activating Willingdon even more, south of Central Ave.

I can't quite remember if Reign has any retail component to it, let alone on that Willingdon side (which is the only side it would make sense to place some retail units) but the Townhomes on the Westland project and Anthem's Standard seem like a lost opportunity.

Complain at the city then - this area is zoned as High Density Residential (not High Density Mixed Use).

The future developments next to Maywood/McKay are allowed some local commercial.

Approved

https://storeys.com/media-library/re...880&quality=90

https://storeys.com/wesgroup-propert...eign-approval/

So does anyone have any idea if their presales were good enough to allow them to do both towers at once versus building them separately in a phased construction?

Other projects and developers in the area seem to be reporting relatively healthy, if not strong presales for their pending projects (specifically Anthem with both Citizen and Ethos), despite the interest rate situation.

I would imagine for a developer it might make some sense to bite the bullet and proceed with a project now - if presales are strong enought o justify it - even with the current inflation situation, and high interest rate and borrowing market and all, .......as opposed to waiting a year or a couple of years for the interest rate levels to cool down, only to have construction and labor costs (...and all corresponding taxes) having risen in that time.

But I'm not really sure how they work out their cost-benefit analysis
for a stituation such as the one we are in today.

I guess the higher payments to the city with new ACCs might play a factor in when they proceed as well?

Oh yeah, that's right.
I hadn't considered that.

But the ACC's wouldn't go into effect until June, and with them having already gotten final approval would they still be affected?

Are they talking about construction start in January 2025? That's still very far.

Also to previous comment about retail along Willingdon, that is not a good idea. There has been a real struggle to lease out all the retail along Beresford, which is more central and still took five years to make happen.

[Burnaby] Reign by Wesgroup| 38, 35 Fl | Demo
 

https://assets.rew.ca/building-group...0&h=644&w=1140

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