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

[donslade]

Originally Posted by rofina

Transfer slab has been poured, penthouses and mech left.

Regular floor plates are done.

Looking forward to see the penthouse take shape, should be quite unique.

Very cool. How long does it take to complete such a bldg to the point where one can move in? I'm not in construction and curious, what's the general build out process?

[rofina]

Originally Posted by donslade

Very cool. How long does it take to complete such a bldg to the point where one can move in? I'm not in construction and curious, what's the general build out process?

I would say Brentwood is particularly complicated because the tower portion is built on top of the commercial component, and parkade.

Lots of custom forming to get to the standard tower floor plates.

Once the crews got going on the standard tower floor plates it was about a floor a week.

I have pictures on my phone from the site on October 2nd 2014, excavation had just started at that point.

By the time tower one is occupied, it will be close to dead on 4 years of construction, not including permit and design.

[Tangeray]

Originally Posted by rofina

I would say Brentwood is particularly complicated because the tower portion is built on top of the commercial component, and parkade.

Lots of custom forming to get to the standard tower floor plates.

Once the crews got going on the standard tower floor plates it was about a floor a week.

I have pictures on my phone from the site on October 2nd 2014, excavation had just started at that point.

By the time tower one is occupied, it will be close to dead on 4 years of construction, not including permit and design.

From the most recent amendment from Shape, Tower 1 currently isn't slated for occupancy until spring of 2019.

To give some perspective, I purchased a unit in tower 2. Back when I signed papers for it in October of 2014, Shape told me the expected completion date was fall 2017 for T1 and spring 2018 for T2.

Looking back now, I'm amazed for one that they promised this turnaround for such a megaproject and yet secondly, I'm also amazed by what they've been able to get constructed in the past four years.

I still feel it'll be worth the wait, but I guess that's what you get for going with a developer with no track record of building residential mega-towers doing it for the first time.

[Jebby]

Originally Posted by Tangeray

Looking back now, I'm amazed for one that they promised this turnaround for such a megaproject and yet secondly, I'm also amazed by what they've been able to get constructed in the past four years.

You're quite amazed at Amazing Brentwood.

[Tangeray]

Originally Posted by Jebby

You're quite amazed at Amazing Brentwood.

I hate that name LOL

[Cypherus]

Originally Posted by Jebby

You're quite amazed at Amazing Brentwood.

Haha that made me laugh out loud.

[rofina]

Originally Posted by Tangeray

From the most recent amendment from Shape, Tower 1 currently isn't slated for occupancy until spring of 2019.

To give some perspective, I purchased a unit in tower 2. Back when I signed papers for it in October of 2014, Shape told me the expected completion date was fall 2017 for T1 and spring 2018 for T2.

Looking back now, I'm amazed for one that they promised this turnaround for such a megaproject and yet secondly, I'm also amazed by what they've been able to get constructed in the past four years.

I still feel it'll be worth the wait, but I guess that's what you get for going with a developer with no track record of building residential mega-towers doing it for the first time.

That's somewhat surprising, I wonder if they now plan to over deliver on Tower 1.

The finishes are already in on the bottom floors, probably up to floor 10 or so. It would seem plausible to deliver occupancy for years end.

That being said - labour market conditions are definitely not working in Shapes favour, trade and skilled labour availability is now the major constraint to deliver on these projects.

[officedweller]

Doesn't Tower 1 have some rental floors?
I wonder if they would finish those floors more simply than the condo floors
(though that may not be a significant time difference)?

[rofina]

Originally Posted by officedweller

Doesn't Tower 1 have some rental floors?
I wonder if they would finish those floors more simply than the condo floors
(though that may not be a significant time difference)?

Indeed, first 32 floors are rentals.

[officedweller]

I wonder if they'd finish the rental floors fast to get tenant income.

[Tangeray]

Occupancy permits would also be contingent on the completion of mall construction too, so it depends on when that gets turned over. Perhaps that's why they're estimating Q1/Q2 of 2019?

In terms of the rental units, I think they would want to get all of the owners in first so they can close on the deals from the sold units, then work on tenanting out the rental portion of the building.

Good to know they've finished the first 10 floors of the interior though

[GilmoreStation]

That doesnt seem to make sense.. why would Shape let condo owners move in earlier than their tenants?

[officedweller]

Depends which provides more cash, I guess.

***********

Fuzzy pic by me today:

[Tangeray]

Originally Posted by GilmoreStation

That doesnt seem to make sense.. why would Shape let condo owners move in earlier than their tenants?

Because the purchasers still owe shape 80% of the purchase price. I think they'd want to collect all that first before worrying about leasing out their rental units..

[VarBreStr18]

Originally Posted by Tangeray

Because the purchasers still owe shape 80% of the purchase price. I think they'd want to collect all that first before worrying about leasing out their rental units..

That wasn't much in today's market. It was the spring of 2014 when purchasers locked in their price. It was also a time when Shape cautiously testing the water. Come to think of it, can Shape turn around and sell their rental instead of renting them thereby reaping today's value? Not only that Shape can collect 100% instead of a 20% down as in presale. I know they obligated to build N market rental units.... they can always dedicate their next tower to be market rental. After all , I never think a good idea to mix market rental and strata ownership in the same tower. A wild thought i know.

[Tangeray]

Very true, but I think in their master plan, they were mandated by the city to make the lower half of tower 1 all rental. Not sure what the long term agreement is or when they're allowed to sell them off at a later date.

I agree that prices locked in for purchasers from 4yrs ago are a bargain in today's market, but still no drop in the bucket. Shape is going to want to get paid out from those sales as soon as possible.

Anyone know any updates on when the mall is going to get turned over?

[Vin]

Originally Posted by officedweller

Depends which provides more cash, I guess.

***********

Fuzzy pic by me today:

In the blurry state, this actually looks somewhat like LA's downtown.

[sburnaby33]

I went to Brentwood Mall today. White railing for the balconies, on the East side of the building, is being installed. Like the fact they went with the white rather than the black. It will allow for nice contrast between tones.

[Nites]

Originally Posted by officedweller

Depends which provides more cash, I guess.

***********

Fuzzy pic by me today:

The quality of the pic looks like it was taken in the 70s lol. Looks like a vintage picture. No offence though.

[Andros]

View from old Sears Parkade Today

• Gold-colored cladding is used on this boxy part of the complex (foreground)
• White balcony railings can be seen on Tower 1 in the background

• Below - Tower 3 is almost at grade