[Burnaby] City of Lougheed | Phase 1 Completed - Page 65

chowhou · #**1281** Posted **Apr 17, 2023, 11:29 PM**

Quote:

Originally Posted by Lexus

Nope, each tower podium gets a bank.

Guess Burnaby wanted a Scotia Tower, TD Tower, and BMO Building too.

gaviscon · #**1282** Posted **May 3, 2023, 7:48 PM**

Does anyone know when phase 2 will be launching?

madog222 · #**1283** Posted **May 3, 2023, 8:02 PM**

Quote:

Originally Posted by gaviscon

Does anyone know when phase 2 will be launching?

Not soon, rezoning was only submitted to Burnaby last August and no updates since.

REZ #22-21 & #22-22 https://www.burnaby.ca/services-and-payments/construction-and-renovation/major-development-projects

Joshmaxlo · #**1284** Posted **May 3, 2023, 8:26 PM**

Got an email from SHAPE (I don't have screenshot of the email sorry) saying they're bringing Tower THREE to market for sale. Fully air conditioned 262 units, sales and move-ins estimate to start in July.

madog222 · #**1285** Posted **May 3, 2023, 8:39 PM**

Quote:

Originally Posted by Joshmaxlo

Got an email from SHAPE (I don't have screenshot of the email sorry) saying they're bringing Tower THREE to market for sale. Fully air conditioned 262 units, sales and move-ins estimate to start in July.

Website says the same https://thecityoflougheed.com/homes/

officedweller · #**1286** Posted **May 3, 2023, 10:03 PM**

That website says that Tower 4 is fully leased.

https://thecityoflougheed.com/homes/

Joshmaxlo · #**1287** Posted **May 3, 2023, 10:11 PM**

Quote:

Originally Posted by officedweller

That website says that Tower 4 is fully leased.

https://thecityoflougheed.com/homes/

From their website they might have some studios available as there is prices listed, but I'm not surprised. I went up to 55One a few weeks ago during their open house (Concerts new rental building) and they're priced at 4$ per square foot for rent..

mcj · #**1288** Posted **May 3, 2023, 10:13 PM**

Was tower 3 always intended as condos? or did they switch it from rental?

madog222 · #**1289** Posted **May 3, 2023, 10:42 PM**

Quote:

Originally Posted by mcj

Was tower 3 always intended as condos? or did they switch it from rental?

Phase 1 was always three strata and one rental tower.

Spr0ckets · #**1290** Posted **May 3, 2023, 10:49 PM**

Quote:

Originally Posted by mcj

Was tower 3 always intended as condos? or did they switch it from rental?

No, it was always strata.

It doesn't take a genius to figure out why Tower FOUR was always going to be the rental tower.

mcj · #**1291** Posted **May 3, 2023, 11:33 PM**

Quote:

Originally Posted by madog222

Phase 1 was always three strata and one rental tower.

Quote:

Originally Posted by Spr0ckets

No, it was always strata.

It doesn't take a genius to figure out why Tower FOUR was always going to be the rental tower.

Thanks. Interesting strategy to build it on spec, doesn't seem to happen much anymore.

SpongeG · #**1292** Posted **May 4, 2023, 7:47 AM**

tower two had its lighting feature turned on tonight, so all 4 towers were on for the first time.

cairnstone · #**1293** Posted **May 4, 2023, 2:45 PM**

Quote:

Originally Posted by mcj

Thanks. Interesting strategy to build it on spec, doesn't seem to happen much anymore.

Its not that uncommon. especially if they have deep pockets or have properties that have low start up overhead. There is a lot of Developer held property that was bought years ago and would be a price point way lower than what the land is worth today. Also its smart to hold back units and sell the at market price instead of a deeply discounted presale. The reason we had pre sale requirements was to test the viability of the market but with housing crunch it really has no benefit.

hollywoodnorth · #**1294** Posted **May 6, 2023, 7:44 PM**

they posted up this photo showing a sort of rendering of Phase 2 on the official CofL site >>

https://thecityoflougheed.com/

madog222 · #**1295** Posted **May 6, 2023, 8:41 PM**

The next to be built should be those two smaller towers along North Road.

officedweller · #**1296** Posted **May 7, 2023, 1:48 AM**

I think those towers (to the west) will help link the station to the mall. It depends if the retail buildings directly opposite the station will be part of that phase. That'll help people see the overall vision.

Klazu · #**1297** Posted **May 7, 2023, 2:30 AM**

I am surprised by the number of short towers. I like the more spacious placement, but has the masterplan changed?

Changing City · #**1298** Posted **May 7, 2023, 2:35 AM**

Quote:

Originally Posted by madog222

The next to be built should be those two smaller towers along North Road.

The next two towers (Towers 5 and 6) appear to be the two submitted in 2022 (rez#22-21 and rez#22-22) located at 9855 Austin, just touching Lougheed Highway (map on p31 of the report here). Those would be the two tall skeletal towers to the left of the first four.

There was also a 2019 inquiry for the site between those towers, and Timberlea towers, on Lougheed, that hasn't been followed up since (which would be the shorter tower to the left of those two in the render). There was also an inquiry for Tower 8 (at Brentwood), reported to Council in February this year (rez#22-36).

There haven't been any North Road inquiries since the master plan in 2014.

madog222 · #**1299** Posted **May 7, 2023, 2:52 AM**

Thanks for linking the report, I didn't know where to find those initial reports. Figured it out now.

Rez #22-36 is for Brentwood btw.

Changing City · #**1300** Posted **May 7, 2023, 4:28 AM**

Quote:

Originally Posted by madog222

Thanks for linking the report, I didn't know where to find those initial reports. Figured it out now.

Rez #22-36 is for Brentwood btw.

Thanks, I missed that, I just noticed Shape had submitted it. That makes more sense. So nothing for the north or east side of Lougheed yet.