[Burnaby] Pinnacle Lougheed | 277m, 249m | 87, 77 fl | Proposed

[osirisboy]

Originally Posted by jasonpark

Are these guys a well known developer? I haven't heard about them before and from their website, they have only built 2-3 buildings in Vancouver.

Yes they are pretty big developers.

[kja384]

Originally Posted by jasonpark

Are these guys a well known developer? I haven't heard about them before and from their website, they have only built 2-3 buildings in Vancouver.

I would say they are pretty well known. The owner of Pinnacle International is a part of the family behind the Onni Group of Companies. They have built some very tall buildings and currently have a 312m tower under construction.

[mcj]

Originally Posted by kja384

I would say they are pretty well known. The owner of Pinnacle International is a part of the family behind the Onni Group of Companies. They have built some very tall buildings and currently have a 312m tower under construction.

The De Cotiis family, they also run Amacon and a few hotels/restaurants. Similar to the Bosas, Aquilinis, Beedies, etc., they control a large portion of the Vancouver development market. This project is in capable hands.

[madog222]

Originally Posted by Burquitlaman

This may be a dumb question, but where do you find this information? I was on the City of Coquitlam development application website and I can see all the submitted projects and the different stages they're in, but only the basic information (approved or not). Where do you find the specific details about each project?

Burnaby lists all current applications here, it's updated every few months.

https://www.burnaby.ca/services-and-...pment-projects

[Changing City]

Originally Posted by jasonpark

Are these guys a well known developer? I haven't heard about them before and from their website, they have only built 2-3 buildings in Vancouver.

15,000 units over 40 years, with about 20 buildings in Vancouver and suburban municipalities on the company website.

[madog222]

This is up for final adoption by city council on Monday.

[VancouverOfTheFuture]

lets hope it gets to building.

taller the better.

[Burquitlaman]

Originally Posted by madog222

This is up for final adoption by city council on Monday.

Approved

https://www.burnabynow.com/local-new...condos-9561791

[BaddieB]

Building that high in Lougheed is kind of ridiculous

[Burquitlaman]

Originally Posted by BaddieB

Building that high in Lougheed is kind of ridiculous

Nah. Burquitlam has a lot of potential. There is a chance that long term burquitlam surpasses Brentwood. Brentwood is a mall and towers sandwiched by nothing. Burquitlam/lougheed have a ton of older density around it, tons of nature, access to to two sky train lines, access to the Fraser Valley, Burnaby etc., right beside SFU, Korea Town and I can go on. At full build out, burquitlam will be nicer than Brent IMO.

[SpongeG]

from the article:

The developer has plans for a second and third phase of the Pinnacle development across the street from the just-approved two towers, with each phase each including a highrise tower and podium.

do they mean to the south? that towers will replace the low rises across Lougheed?

[jollyburger]

Originally Posted by SpongeG

from the article:



do they mean to the south? that towers will replace the low rises across Lougheed?

Yes just right next to the guideway.



https://storeys.com/pinnacle-loughee...tallest-tower/

[SpongeG]

ah ok. Well hopefully without investors they van get it built.

[Burquitlaman]

Originally Posted by SpongeG

ah ok. Well hopefully without investors they van get it built.

Yeah. I wonder how long it will take, if ever, considering the investment climate, to see shovels in the ground.

There are countless other projects in the area that were approved a zillion years ago but the stores on these sites are still going strong with no sign of the developer wanting to push ahead.

Maybe years before we see anything?

[VancouverOfTheFuture]

interest rates are coming down, and theyll probably have to come down faster than expected. i could see that spurring the market, and a developer wanting to get started next year.

depends what happens both in canada, and the usa.

anyone know if they decreased the parking requirement? i know that was a topic at one point.

[VarBreStr18]

Originally Posted by jollyburger

Yes just right next to the guideway.



https://storeys.com/pinnacle-loughee...tallest-tower/

Thanks for the image.
Looks kinda crowded in that section of land. Is that an over pass connecting to the Shape presentation center currently being built? Another questions is does Burnaby anticipate that many people in the next 20 years? Looks like COL tower 3 is not selling that fast.

[GMD]

Originally Posted by VancouverOfTheFuture

interest rates are coming down, and theyll probably have to come down faster than expected. i could see that spurring the market, and a developer wanting to get started next year.

depends what happens both in canada, and the usa.

anyone know if they decreased the parking requirement? i know that was a topic at one point.

The article mentioned that the parking had been significantly reduced from the original plan for 14 floors of parking.

There is something a bit ironic about building the tallest building down in a valley - if it was up at Burquitlam or Metrotown it could really tower high, but maybe it won't scare the Nimbys as much this way.

At any rate, more housing is always good, hopefully with rates coming down, we see more action in the Lougheed area, right now it seems like Burquitlam is sucking up all of the development money in the area.

[officedweller]

Originally Posted by VarBreStr18

Thanks for the image.
Looks kinda crowded in that section of land.

Just to the east of the 2 approved towers Canderel is planning 56 and 43 storey towers:

https://vancouvermarket.ca/2023/10/1...ea-of-burnaby/


https://vancouvermarket.ca/2023/10/1...ea-of-burnaby/

[jollyburger]

The sister project got approved as well.

Pinnacle 3-Tower Carrigan Court Project In Burnaby Receives Final Approval



https://storeys.com/pinnacle-interna...court-burnaby/

[jollyburger]

Nothing that interesting in this article just the standard arguments for and against megatalls.

Developers becoming less than enthused about massive towers as Burnaby approves 80-storey condo building

“We are seeing a number of developers make a switch to a sweet spot of building in between 35 to 45 storeys,” said Richard Bernstein, principal at Chris Dikeakos Architects.

And there are several reasons.

Jon Bennest of Zonda Urban, which tracks real estate data for developers, said acquiring financing for construction typically requires pre-selling about 60 per cent of units.

“As taller buildings typically have more units, they require a higher-dollar volume of presale contracts to be in place.”

In spring, one realtor selling presale units at the 60-storey Curv condo building in Vancouver on Nelson Street was offering a Porsche GT3 for buyers who close on the purchase when the building is completed in 2029.

There is still a pipeline of more than two dozen projects with buildings of more than 45 storeys that have been approved in Metro Vancouver. The 26 projects that are either for sale or under construction include 14 in Burnaby, four in Surrey, five in Coquitlam and three in Vancouver, according to Zonda Urban.

In addition, there are 43 additional tall-tower projects that have been publicly presented to city councils or are in the stages of seeking approval, again with the most in Burnaby at 17 and then 10 in Surrey, eight in Coquitlam and eight in Vancouver.

There isn’t an easy way to track how long it takes for approved projects to get to the launch of a presale campaign, according to Bennest.

“The challenge is that it could be a variety of factors ranging from the economy, poor decisions, other priorities, lack of resources or finances. It could be a speculator looking to (get an) approval and sell to another developer, higher costs to build, and many more factors.”

However, Bernstein said there is a point when it stops making sense to push higher because the cost of structural systems — the number of elevators or the complexity of window-washing systems — is complicated.

“When you are close to 50 storeys and higher, you have to use mass dampening to counter the natural sway of the building,” he said.

This involves installation of a giant tank filled with water at the top of such buildings to stabilize them — one of the factors that can cost a premium, said Bernstein.

https://vancouversun.com/business/re...condo-building