Burnaby Updates

[towerseeker101]

Originally Posted by Changing City

I can't recall if this has been reported already, but Vancouvermarket blog is reporting that Peterson Group have bought the Lougheed Saputo site for $209m. No development for a few years, but that'll be another big project right next to transit which won't displace any existing renters.

The adjacent property, 7000 Lougheed has been on sale for $4.5 million (last I checked) for a while now with no takers. I wonder how much Saputo will be paying them for the lease until 2021? $209 million for the Saputo property while no one seems to want the sizeable adjacent property for $4.5 million. Strange.

[Lexus]

My Pics Nov 12, 2018
Construction by Dmytro Zhukovets, on Flickr
Construction by Dmytro Zhukovets, on Flickr
Construction by Dmytro Zhukovets, on Flickr
Construction by Dmytro Zhukovets, on Flickr

[Roller Coaster]

Which development is this??

Originally Posted by Lexus

My Pics Nov 12, 2018
Construction by Dmytro Zhukovets, on Flickr
Construction by Dmytro Zhukovets, on Flickr
Construction by Dmytro Zhukovets, on Flickr
Construction by Dmytro Zhukovets, on Flickr

[Lexus]

Originally Posted by Roller Coaster

Which development is this??

I will check tomorrow

[rofina]

Originally Posted by Roller Coaster

Which development is this??

Bordeaux or Juneau.

There are two of em across the street from each other.

[Tetsuo]

Looks like Polaris is finally seeing some activity !

[Spr0ckets]

Originally Posted by Tetsuo

Looks like Polaris is finally seeing some activity !

They've had some excavators on the site for a couple of weeks now.

Has any actual excavation started, or are they still on an extended holding pattern?

[Roller Coaster]

Thanks, it looks like it with Milano in the background

Originally Posted by rofina

Bordeaux or Juneau.

There are two of em across the street from each other.

[owenhujb]

It appears as though Polaris's boards have been removed

[owenhujb]

Work has began progressing at Station Square-first photo taken a month ago, second photo taken November 10th

[VarBreStr18]

Originally Posted by Roller Coaster

Thanks, it looks like it with Milano in the background

The one in the background is Fulton House.

[owenhujb]

Does anyone know whats going to happen to Polaris? I drive by everyday but about a week ago I've noticed that the boards have been taken down and that the excavator on site is also gone. After reading some previous threads some are suggesting that it is waiting for Imperial to top out but Imperial is basically almost done construction. The site of Polaris still is a barren landscape of grass and dirt.

[Spr0ckets]

Originally Posted by owenhujb

Does anyone know whats going to happen to Polaris? I drive by everyday but about a week ago I've noticed that the boards have been taken down and that the excavator on site is also gone. After reading some previous threads some are suggesting that it is waiting for Imperial to top out but Imperial is basically almost done construction. The site of Polaris still is a barren landscape of grass and dirt.

The project is probably most likely on hold.

Which is not exactly unusual nor unexpected, but unfortunate nonetheless for those who've already put down deposits through presales.

More than likely they're waiting (hoping?) for presale numbers to hit a certain thresshold before going ahead, and the current market slowdown probably doesn't help in this regard.

It's also possible (though less likely so at this stage) that the project ownership might have changed hands (which might potentially explain the "Transca" boards coming down) and the new developer/owner might want a change in some of the unit types on sale which would take them back to the design permit stage (depending on how big the changes are).

It's a project that's seemingly had a lot of false starts and I wouldn't get my hopes up on seeing any activity or progress on that site any time soon.

The easiest way to find out what might be going on might be to pay a visit to their sales center on Imperial.
It doesn't guarantee that they'll be anymore forthcoming with you and give you the straight dope, but it wouldn't hurt.

[osirisboy]

The presentation centre is now closed.

[Spr0ckets]

Originally Posted by osirisboy

The presentation centre is now closed.

So that, in and of itself, should tell you what you need to know.

[VarBreStr18]

Originally Posted by Spr0ckets

So that, in and of itself, should tell you what you need to know.

Anybody know what percentage Polaris have been sold? This would give some indication of current sales at Gilmore Place and City of Lougheed which are both selling..... always interested about current market.

[SpongeG]

an ad I saw for City of Lougheed last week said 450 homes still available, I assume that was for tower 2?

[osirisboy]

Originally Posted by Spr0ckets

So that, in and of itself, should tell you what you need to know.

That they have sold out enough units to start construction

[Spr0ckets]

Originally Posted by osirisboy

That they have sold out enough units to start construction

So how does that explain the getting rid of the excavator they had on the site to start said construction?

Also, when have you ever known a project to either COMPLETELY sell out all their units before construction even begins, or to have sold enough prior to construction actually commencing to precipitate them closing the sales center altogether?

[owenhujb]

Will Burnaby ever get a supertall?

About a decade ago, Burnaby has been mingling with the 100 -120 meter range, with buildings like the Metrotowers, Centrepoint, etc...

Fast forward five years and the heights are going up, to around 125 - 150 meters, buildings including, Silver, Metroplace, and The Sovereign.

Currently the hieghts are going up more, to around 160 - 190 meters. 4670 Assembly Way, the Brentwood towers, Altus, etc...

Another 5 years into the future and you've got buildings in the 210 - 240 meter range (proposed), like Gilmore Place and Concord Metrotown.

So in around another decade or so, will a tower break the 300 meter mark?