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

[osirisboy]

Where are residential towers 4 and 7?

[VarBreStr18]

Originally Posted by osirisboy

Where are residential towers 4 and 7?

All I know is that T4 is to the east of the currently under construction T3. It is also marked as Phase 3. No idea where T 7 is in the big picture. T4 is also all rental. With the cancellation of Holt Renfrew, TAB is clearly heading to a middle class community, so please hurry up and include an anchor large scale grocery store. It will at least draw traffic to this up and coming mall. This mall needs people, otherwise all the retails cannot survive.

[Tangeray]

Originally Posted by VarBreStr18

All I know is that T4 is to the east of the currently under construction T3. It is also marked as Phase 3. No idea where T 7 is in the big picture. T4 is also all rental. With the cancellation of Holt Renfrew, TAB is clearly heading to a middle class community, so please hurry up and include an anchor large scale grocery store. It will at least draw traffic to this up and coming mall. This mall needs people, otherwise all the retails cannot survive.

I don't believe this mall will have any trouble drawing people. It's still early and nothing's opened yet. Once things do this place will be bustling.

[jollyburger]

Originally Posted by VarBreStr18

All I know is that T4 is to the east of the currently under construction T3. It is also marked as Phase 3. No idea where T 7 is in the big picture. T4 is also all rental. With the cancellation of Holt Renfrew, TAB is clearly heading to a middle class community, so please hurry up and include an anchor large scale grocery store. It will at least draw traffic to this up and coming mall. This mall needs people, otherwise all the retails cannot survive.

Assuming it's somewhat similar to the current plan (image from 2015)



Credit: Skyrise Vancouver

[Lexus]

My photos from today January 25, 2020
QUALITY

Untitled by Lexus, on Flickr
Untitled by Lexus, on Flickr

Untitled by Lexus, on Flickr

Untitled by Lexus, on Flickr

[Klazu]

Based on diagram above T1 and T2 were going to be up to 70 storeys? That would have been great.

[officedweller]

Yeah, then economics got in the way, I guess.

That stone looks pretty porous, so a poor choice for strength. They'll probably replace the stone grilles with metal ones in future.

[MetroYVR]

man... Shape is losing money big time...

[officedweller]

Could that be why the station precinct at Lougheed was sold to Pinnacle? (If Shape owned it before)
Any mall will have a long lead time for leasehold improvements, plus the current retail environment doesn't help. Guess that' why half the upper mall has changed from regular CRU to food and beverage, but I wonder how much traffic that will attract weekdays in a suburban area (without a critical mass of office workers at lunch).

[jollyburger]

Even if you did have the drainage tiles made of stone how stupid do you have to be to make a cut so close to the edge and make a weak point?

[officedweller]

Designers?
Remember the debacle with the stone tiles on the TD/Nordstrom plaza?
They were solid stone tiles (supported on pegs), but they still cracked.

[jollyburger]

And the stone has natural cavities that seem to make it an even worse choice.

[officedweller]

Yup.
Looks like travertine (very popular among international style modernists
- it clads the elevator cores at TD Centre, Toronto and TD Tower, Vancouver).

[Meraki]

Walking to the SkyTrain past the fountain I was legit surprised by how much some of those tiles shifted when stepping onto them, like "am I going to fall" amounts.

[VarBreStr18]

Originally Posted by MetroYVR

man... Shape is losing money big time...

If they are losing money big time, why don't they hurry up and let T2 in and get paid? The money collected can pay for debt and generate interest.

[Spr0ckets]

Originally Posted by VarBreStr18

If they are losing money big time, why don't they hurry up and let T2 in and get paid? The money collected can pay for debt and generate interest.

I don't really think that that's how it works.
Besides which, even assuming they have total control of the whole occupancy process (which they don't) why would they expose themselves to the liability risk of letting occupants in before they're ready to do so and risk litigation down the road?

[VarBreStr18]

Originally Posted by Spr0ckets

I don't really think that that's how it works.
Besides which, even assuming they have total control of the whole occupancy process (which they don't) why would they expose themselves to the liability risk of letting occupants in before they're ready to do so and risk litigation down the road?

That is economy 101. How come other developer can do it? Altus across the street was put on sale later than TAB . Altus has 55 storeys ,also has retails and office level at podium with at least 4 levels of parking. Altus has been finished and occupied for close to 2 years now.

[Spr0ckets]

Originally Posted by VarBreStr18

That is economy 101. How come other developer can do it? Altus across the street was put on sale later than TAB . Altus has 55 storeys ,also has retails and office level at podium with at least 4 levels of parking. Altus has been finished and occupied for close to 2 years now.

No, what I meant was I don't think that their paying off the financing or debt of this project is dependent on owners moving into their units by a specific date or not.

That's not how project financing works.
These things are usually (more or less) fully financed before any excavator breaks ground.

Of course, sometimes getting financing and loans from banks and investors beforehand depends on showing that you're able to get beyond a certain presale thresshold (to show that the project will be viable of course). That's why presales are so important to developers.

But the notion that they are losing (more) money through debt because people haven't moved in,.....yeah, I don't think so.

Where they probably ARE possibly losing money is in the mall itself since they are landlords of the mall and not having business flowing through there means there are not enough retail tenants which means they don't get the rent they need for that.

That should also clue you in as to why they move in the rental units in the towers before the market units.
Same logic applies to Altus next door.
The developers own the office space that they are leasing (renting) out to the various businesses, just like the retail spaces.
It's in their direct best (financial) interest that those are leased out or rented out as soon as possible when the project is complete.

I will say though, that since they DO have a vested interest in the mall itself making money for them as soon as possible, then to the degree that the towers are not occupied and providing foot traffic for the businesses in the mall, it does affect them that way indirectly. But that in itself assumes that with the towers fully occupied, the mall itself will likewise find tenants for all the empty stores to generate the revenue you need, and that's not a given.
Too many variables to consider in that situation.

[jollyburger]

The tiles are horrible but then the other half is some dark wood covered with signs saying it's slippery.

[SFUVancouver]

The straight-up crushed sections of the damaged stonework makes me think mobile cranes/lifts drove over them. They should have put down steel mats or even plywood. For the chipped corners and such, that's likely from poor delivery practices and rushed installation.