Posted Sep 24, 2022, 8:51 PM
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Join Date: Dec 2015
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Quote:
Six years after the master plan was approved, City of Lougheed in Burnaby has welcomed its first residents.
On Sept. 1, about 60 residents moved into the rental tower next to Lougheed Mall, one of four towers that make up the first phase of the 37-acre development.
The four towers of “Neighbourhood One,” developed by Shape Properties, range from 31 to 57 storeys high.
Condo units make up three of the towers; the fourth is made up entirely of 237 rental units.
The move-in on the rental tower is a milestone for Shape and the community, according to executive vice-president of income-producing properties at Shape Properties, Meaghan Tullis.
“We’re incredibly excited to actually have residents onsite and starting to build up communities,” Tullis said.
The rental tower move-in is happening in phases throughout the rest of 2022.
The rental units, branded as luxury, are pet-friendly and have a full-time concierge.
Studio units start at $1,995 per month. The Canada Mortgage and Housing Corp. median for rentals in North Burnaby is $1,019.
The condo towers will begin a phased opening starting in early 2023.
Tullis said all the condo units have been sold.
“Hopefully, by the end of 2023, we’ll have occupancy on all four towers, which is about 1,500 homes,” Tullis said.
With the new homes in Neighbourhood One also comes 120,000 square feet of commercial space.
A grocer, bank and fitness centre are planned for the base of the towers.
All four buildings share about 18,000 sq. ft. of indoor and outdoor amenities including a small park, bocce ball court, barbecue area, kids’ play area, as well as a gym, cardio room, games lounge, dining area, cocktail room and an arcade.
Different rooms, like dining areas for private events, will be bookable for residents through an online portal.
About five acres of park space are planned over the entire City of Lougheed site.
Tullis said the area will become a “mini-city” with access to parks and greenery “to create a more welcoming feel for all the residents.”
The old Safeway location on the west side of the mall is slated to become part of that park space, though there isn’t a set timeline to build out that area, Tullis said.
In the meantime, the Safeway location is being used as storage for construction; the covered sidewalk on the south side of the building is currently a public art feature and event pop-up space that has hosted live music and entertainment throughout the summer.
Two new streets linking North Road and Austin Avenue — Cross Creek and Grand Promenade — are almost finished construction.
A new walkway will lead into the mall’s new upper-level entrance (where the old Starbucks was previously located) for residents and the public to enter directly into the shopping centre.
“I just can’t wait for the next 12 to 16 months to see it all come together, and then where it just goes from there,” Tullis said.
“The city, for us, we feel like it’s now coming out of the ground and coming to life. It will still evolve and adapt over time as we go through our next phases and stages.”
Opened in 1969, the original Lougheed Town Centre doubled in size in 1986 and was extensively renovated in the early 2000s. Shape acquired the property in 2010 from Ontario Pension Board Realty.
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https://www.westerninvestor.com/british-...heed-mall-welcomes-new-residents-5854758
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