Burnaby Updates

[Spr0ckets]

Originally Posted by jollyburger

I wonder where McCarthy Properties is getting the money to fund this development. They had lots of properties but that seems like a huge leap from what they've been doing.

I assume the timeline has something to do with their financials?

https://wpjmccarthy.com/property-portfolio/



https://www.cwilson.com/biggest-gift-ever/

I'm not fully convinced that they're actually going to go all the way forward and through with a full redevelopment.

As I indicated in my other post, this seems to smack of a Master plan proposal and rezoning application and then sell the site for huge profit to a more serious developer after its upzoned - just like happened with the Esso site and Bosa.

Assembling lots, upzoning and repackaging to flip them and re-sell for big profit seems to be all the rage now.
And clearly (as shown from Bosa's $121 million profit from their initial $24 million purchase a few years ago), there's money to be made there.

Why carry all the risk when you can make a (relatively) quick(er) profit with minimal effort?

There's been a domino effect that's been set of by Concord's project at the old Sears store and the mall parking lot that's going to ignite a gold rush for developers wanting to develop those lots north of the Mall along Kingsway now that the southern side is mostly all accounted for.

[jollyburger]

I agree with your concept if they bought and sold it. But from the timeline that screams buy and hold for a charitable family trust?

[Klazu]

Originally Posted by Metro-One

Wow! You just causally drop a bombshell of a development like that! 70 stories across the street from Concord Metrotown’s signature tower, that’s huge!

I am loving the look and the height, but not here. I don't think it makes for an appealing skyline to go from 20-floor towers to 70 floors within a block. Such a tall building here will also detract from the Concord project. Build these near-supertalls more to the centre of Metrotown.

[Migrant_Coconut]

^ And that's why you don't let the market pick the building height.

[mcj]

Originally Posted by Klazu

I am loving the look and the height, but not here. I don't think it makes for an appealing skyline to go from 20-floor towers to 70 floors within a block. Such a tall building here will also detract from the Concord project. Build these near-supertalls more to the centre of Metrotown.

This would be directly across the street from the Concord Metrotown Grand Tower at 65 stories tall though. A 5-storey jump really isn't that much...

If we want to talk about unappealing jumps in the skyline, let's talk about all those single family homes a couple blocks to the north.

[phesto]

Originally Posted by Klazu

I am loving the look and the height, but not here. I don't think it makes for an appealing skyline to go from 20-floor towers to 70 floors within a block. Such a tall building here will also detract from the Concord project. Build these near-supertalls more to the centre of Metrotown.

In theory I agree with you, but it's sort of a moot point now that Concord's tallest tower is at the Eastern edge of the site, stepping down to the West. This tower should complement the 65-storey Concord tower nicely.

[Klazu]

The Concord complex itself has a nice stepping in building heights with Grand Tower being the highlight. I think tower this tall on the other side of Kingsway will detract from it, as from distance they are going to appear the same height. It's the same gripe I have with Shangri-la and Trump Tower being such a same height right next to each other. Neither gets enough room to shine in the skyline.

[djmk]

$100M share deal means no property tax of about $3M

I'm surprised this is still allowed.

[SpongeG]

Originally Posted by Klazu

I am loving the look and the height, but not here. I don't think it makes for an appealing skyline to go from 20-floor towers to 70 floors within a block. Such a tall building here will also detract from the Concord project. Build these near-supertalls more to the centre of Metrotown.

I would love something like this to happen somewhere here one tall building in a sea of smaller


wixstatic.com

[chowhou]

Originally Posted by Migrant_Coconut

^ And that's why you don't let the market pick the building height.

The fact that anyone would want to block development in a housing crisis because it's not an "appealing skyline" is why we shouldn't let public opinion pick building height.

I love the massing of the building as proposed (at least in the renderings). It gives a very Chicago/New York setback vibe.

[Metro-One]

Yes, the massing is great, I also get a Chicago feel. The location is fine too. If ego for a perfect skyline shape is that strong of a factor, then let's hope it will make other developers near Metrotown Station go even taller.

[osirisboy]

Originally Posted by rickvug

Interesting project. Any context (or speculation) on why they propose a 50 year gap before the second tower is built, and up to 100 years to finish the other two?

Yeah what’s this about?

[Metro-One]

More info is to come next year, likely in January.

Seems like the first phase has a chance of being a real concrete stand alone project, while the other "phases" are just long term planning exercises.

[chowhou]

2022, December 15
Alaska @ Alaska St & Willingdon Ave


LARGE VERSION


LARGE VERSION


LARGE VERSION

Alaska building seems to be using the same cladding as Brentwood Akimbo. As much as I like the spirit of not going for the classic seagreen glass facade, god these black panels are ugly as fuck. Hopefully something ends up covering them.

[vanman]

I don't mind it at all. So sick of the same colour of cheap spandrel used on everything. This is a welcome change.

[chowhou]

Originally Posted by vanman

I don't mind them at all. So sick of the same colour of cheap spandrel on everything. This is a welcome change.

It looks like when the sun shines on them, they heat up and expand (as black things tend to do) and they bulge out like you can see in the last image. Not a huge fan.

[jollyburger]

The only problem I have is the fact the siding is all warped.

[officedweller]

It's called 'oil canning'.

[VancouverOfTheFuture]

Originally Posted by officedweller

It's called 'oil canning'.

ill just call it ugly AF. looks terrible.

[Klazu]

Oh wow, never seen spandrel 'bubble' like in the last photo of Alaska. Looks very weird and unusual.