Quote:
Originally Posted by VanK
Curious to know where you heard that Concord Sears might be moving forward soon. I am under the impression that it still has a long time to go before any moves forward there with all the mall easement issues etc.
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The City of Burnaby Planning Department major projects and developments listing page (most recent update as of last month - July 25th - literally, a little over two weeks ago) shows that they've initiated a Rezoning application process and have submitted a conceptual master plan framework.
It's on page 7 and line 116
https://www.burnaby.ca/Assets/city+servi...velopment+Projects/01+-+2016+July+25.pdf
That's a lot farther along in the process than they've progressed in the prior reports I've seen.
Like you, I was also under the impression that it had been put on the backburner and on hold while they tried the sort out the easement issues with the Mall (and also while they were focused on getting Concord Brentwood project up and running), but it seems like with the Brentwood project selling out faster than they had expected for the initial towers and the first phase at least, maybe they've decided to get the wheels rolling on this project.
Just to be clear, they may still be dealing with sorting out the easement issues in the background, but initiating a Rezoning application tends to mean they're trying to get the project off the ground.
Not really sure how the new tax is going to affect it at this point though (not them specifically, but rather the overall market itself, and thus any projections on them moving forward versus holding off for a while again) since this update was from before when the govt. announced the tax.
And there are indications that the tax might actually be slowing the market, (but just not in the way they expected it to).