[Burnaby] The Amazing Brentwood | 15 Towers | 186m | 56 flrs | U/C & Proposed

[AudiA3]

Okay I better stop now, have a great day everyone!

[VanK]

Originally Posted by VarBreStr18

Correction: Metrotown land is 12.96 times more expensive than Brentwood, not
12 times. Ha ha ha

If land in Metrotown is 12x more expensive than land in Brentwood you better get some buddies together and find land and buy it in Brentwood ASAP! And let me know how you make out with that.

[VarBreStr18]

Originally Posted by VanK

If land in Metrotown is 12x more expensive than land in Brentwood you better get some buddies together and find land and buy it in Brentwood ASAP! And let me know how you make out with that.

You bet I will , if I am a developer.
In fact there are industrial lands south of skytrain being scooped up by developers already. Just you wait, there will be lots of condos to be built pending market environment.

[VarBreStr18]

Originally Posted by AudiA3

Wow... Sounds too promising...


http://vancouver4presale.com/the-amazing-brentwood-shape-living/

hmmmm... as much as I like Brentwood area,this sounds tooo much like a advertisement. Dont think this is what this forum is meant for.

[VarBreStr18]

Originally Posted by AudiA3

Shape Properties recruited Maria Holly early this year who was heavily involved in the original development of The Village at Park Royal, as well as the more recent expansion of Park Royal. She is now the person in charge for attracting fashion retailers into leasing at the new Brentwood redevelopment. Hopefully, she will not disappoint.

I bet she will find some pretty high end retails given the cheaper rent in Brentwood. Definitely cheaper than downtown,
Oakridge, or Metrotown. Brentwood needs some highend retails to boost its sagging image.

[CoryHolmes]

So I just checked out the show homes. The one bedroom unit on display was rather nice, as was the larger 2-bed unit. The smaller 2-bed show home... blech. It has way too much outdoor space and not enough indoor space.

Also I talked with one of the sales minions. Apparently after these two towers are completed. they'll switch over to Lougheed (which they've also bought) and do the same deal over there, then come back and get the next phase of Brentwood underway. All in all, he figured there'd be another 15 years of construction before Brentwood is fully built-out...

[AudiA3]

Good for them for having stable jobs with Shape Properties & Rennie Marketing...

[VarBreStr18]

Originally Posted by VanK

If land in Metrotown is 12x more expensive than land in Brentwood you better get some buddies together and find land and buy it in Brentwood ASAP! And let me know how you make out with that.

Concord Pacific already bought 26 acres east of Beta street , south of Lougheed. There is a reason why Li Ka Shing consistently ranked within 10 world's richest, it is because he has the vision of land potential. He bought out False Creek some 30 years ago. He still own some prime land across from China town station. If he sees fit to invest in 26 acres, it most likely will have potential.

[VarBreStr18]

Originally Posted by CoryHolmes

So I just checked out the show homes. The one bedroom unit on display was rather nice, as was the larger 2-bed unit. The smaller 2-bed show home... blech. It has way too much outdoor space and not enough indoor space.

Also I talked with one of the sales minions. Apparently after these two towers are completed. they'll switch over to Lougheed (which they've also bought) and do the same deal over there, then come back and get the next phase of Brentwood underway. All in all, he figured there'd be another 15 years of construction before Brentwood is fully built-out...

That means people who bought units facing east will enjoy years of unobstructed view because takes another 4 years for Lougheed to finsih their first phase. Then another 3 to 4 years to complets phase 2 of Brentwood. And no building mess for some time.

[Tetsuo]

Originally Posted by CoryHolmes

So I just checked out the show homes. The one bedroom unit on display was rather nice, as was the larger 2-bed unit. The smaller 2-bed show home... blech. It has way too much outdoor space and not enough indoor space.

Also I talked with one of the sales minions. Apparently after these two towers are completed. they'll switch over to Lougheed (which they've also bought) and do the same deal over there, then come back and get the next phase of Brentwood underway. All in all, he figured there'd be another 15 years of construction before Brentwood is fully built-out...

Smart since by then the Evergreen Line will bring a lot of hubbub and attn to Lougheed

[GMasterAres]

Still liking this project. A strong Brentwood continues the trend of de-emphasizing Vancouver as the "center of the Metro-Vancouver Universe" which benefits the rest of the region hugely.

It will also benefit, as was mentioned with the Evergreen, those living in Coquitlam and along that line North of Fraser not to mention the pocket books of those investing in Brentwood and those buying in the area.

[AudiA3]

Originally Posted by jhausner

Still liking this project. A strong Brentwood continues the trend of de-emphasizing Vancouver as the "center of the Metro-Vancouver Universe" which benefits the rest of the region hugely.

It will also benefit, as was mentioned with the Evergreen, those living in Coquitlam and along that line North of Fraser not to mention the pocket books of those investing in Brentwood and those buying in the area.

Don't forget those who live in East Vancouver & Central Burnaby also

UPDATE:

[jb1969]

Originally Posted by VanK

Common don't post wrong facts in this forum. You are saying that the cost of land is 12 times more in Metrotown than Brentwood? I don't know where you get your source of info but that's not even remotely close.

There is no way that makes any sense. I am sure you know a realtor or two, just ask them. there is about a 10% "premium on land costs in metrotown over brentwood for residential high density properties. Just confirmed with realtor friend. Brentwood land is about 10% cheaper per buildable foot of residential space. Brentwood mall was a different deal in that it was purchased by shape from the previous owners as a mall. Shape rezoned and essentially go the residential portion for free, except for what ever they get in the way of bonus density that they then have to pay the city for. Currently land costs in Brentwood are about $110 per sq ft residential and in Metrotown about $125

[jb1969]

Originally Posted by VarBreStr18

please refer to Business Vancouver, www.biv.com
September 22, 2014 , aricle by Frank O'Brien
" 20.7 million sale of a 1.1 acres in Burnaby's Metrotown area " =18.8 million per acre

Also "$1.45 million per acre for a 40-acre site bear Burnaby's Brentwood Skytrain station "

I trust the reliability of this source

Yup.... always trust a reporter because they will never use information is such a way to create over sensationalized stories.

[VanK]

Originally Posted by jb1969

There is no way that makes any sense. I am sure you know a realtor or two, just ask them. there is about a 10% "premium on land costs in metrotown over brentwood for residential high density properties. Just confirmed with realtor friend. Brentwood land is about 10% cheaper per buildable foot of residential space. Brentwood mall was a different deal in that it was purchased by shape from the previous owners as a mall. Shape rezoned and essentially go the residential portion for free, except for what ever they get in the way of bonus density that they then have to pay the city for. Currently land costs in Brentwood are about $110 per sq ft residential and in Metrotown about $125

@jb1969.. just to make it clear, I wasn't the one that posted the info that claims land in Brentwood is 12x more expensive than land in Metrotown... I was the one calling it misleading...
I would say Brentwood land is closer to 20% to 30% cheaper in Brentwood vs Metrotown. Brentwood is around $75 to $90 per buildable square foot (but escalating) while Metrotown is $115 to $125 (and has peaked for now).

[VarBreStr18]

Originally Posted by jb1969

Yup.... always trust a reporter because they will never use information is such a way to create over sensationalized stories.

Figures don't lie, I am sure that is not his intention.
In fact I wonder if he realize his article created such sensation!!!

[faston]

Great pic! That's a big hole. And it's going to go deeper too, as there is supposed to be 4 levels of underground parking.

[VarBreStr18]

Originally Posted by jb1969

There is no way that makes any sense. I am sure you know a realtor or two, just ask them. there is about a 10% "premium on land costs in metrotown over brentwood for residential high density properties. Just confirmed with realtor friend. Brentwood land is about 10% cheaper per buildable foot of residential space. Brentwood mall was a different deal in that it was purchased by shape from the previous owners as a mall. Shape rezoned and essentially go the residential portion for free, except for what ever they get in the way of bonus density that they then have to pay the city for. Currently land costs in Brentwood are about $110 per sq ft residential and in Metrotown about $125

really? since when are realtors the most trusted professionals?

Lets do some research
A unit on the 52 floor right in center of Metrotown costs $599000 for 751sf , which works to be $797.6/sf
Similar unit on the 52 floor in Brentwood costs $443900 for 733 sf, which works out to be $605.59 /sf
A differnce of $192/sf. that works out to be $192 x 751=$144192 more
You do the math....

OK another unit a little further away from Metrotown sky train, most likely 15 minutes walk. On the 26 floor costs $638888 for 842 sf which is $758.7/sf
I do not have price on a 26 floor of Brentwood, but a 49 floor unit in Brentwood costs $547900 for 921sf, which is $594.9/sf. Remember this is the 49 floor. A whopping difference of $163.8/sf.
again this works out to be $163.8x842=$137077 more
again you do the math

think I better stop here because I am making a lot of enemies.
I am not a realtor. I dont know anybody from Shape. since i invested in Brentwood, i just like to see Brentwood prosper. I like to see it become the envy of Burnaby where people enjoy living and feel safe.

Also this illustration just to indicate the article by Frank O'Brien is not too out of line

[osirisboy]

Here is the right thread for basically all of your posts:
The metro vancouver real estate thread!!

http://forum.skyscraperpage.com/showthread.php?t=193748

[AudiA3]

$2.899mil for 2800sqft living space on 2 floors & 2500sqft patio penthouse... comes to only $547/sqft on a 62/63rd floor, not a bad deal imo.. too bad, i cant even afford the $1400maintenance fee/month+property tax