Burnaby Updates

[Lexus]

Originally Posted by phesto

Keltic Development has submitted their new rezoning app for 4444 Kingsway.

https://pub-burnaby.escribemeetings....cumentId=65911

Suggests the tallest tower will be 59 storeys, so not nearly as tall as what Bosa had envisioned at 70-storeys. They are however retaining Gensler as the architect.

Great find! thanks! It would be great to have that gas station to be gone. Also those SFH along Kathleen should go too...development at 5980 Kathleen already removed 4 of those SFH.
So this is next to this development:

Untitled by Lexus LX600, on Flickr

[officedweller]

Keltic Acquires 4 Acre Brentwood Site


https://vancouvermarket.ca/2023/04/0...rentwood-site/

[Metro-One]

So I heard that where the two towers, one 70 floors, was proposed will now only be 59 floors.

It will be a mix of commercial, office, hotel and condos (rentals too?). So who knows if it will break 200m or not.

Still disappointed though. That location was perfect for a landmark tallest in Metrotown.

[Spr0ckets]

Originally Posted by Metro-One

So I heard that where the two towers, one 70 floors, was proposed will now only be 59 floors.

It will be a mix of commercial, office, hotel and condos (rentals too?). So who knows if it will break 200m or not.

Still disappointed though. That location was perfect for a landmark tallest in Metrotown.

Can't really blame Bosa for their decision to sell the site/project though.

They bought the lot for some $20 odd million not that long ago, and then added with some cost of getting it upzoned in their rezoning application, they were able to sell it for north of $140 million not long after that.
.....for a pure profit in the $120 Million range.

Maybe the profit margin from redeveloping it into a 70 and 50 storey tower project would have been larger - but it almost certainly would have taken longer to get there and to get that ROI.

As for why Keltic downgraded it from 70 storeys to 59 storeys (for the taller tower), a lot of factors go into making the numbers work for tower projects that tall, and your ROI begins to diminish once you get past a certain height.
Add to that the fact that Keltic are not an established developer in the GVA like Bosa area (read : deeper pockets), means they're probably carrying and facing more risk with a taller tower.

I wouldn't worry too much, though.
There's still plenty of opportunities around the area for a landmark tower and possibly even a 70+ or 80+ storey tower*.

.....assuming it still makes sense for one in the market.

(*looking at the Orchid Square strip mall lot across the street from the Esso with the Save-On Foods).

[Sheba]

Originally Posted by Spr0ckets

(*looking at the Orchid Square strip mall lot across the street from the Esso with the Save-On Foods).

Yeah Old Orchard is one of the lots I'm surprised hasn't seen a development proposal (also next door where Earls used to be). Around half of the north side of Kingsway (between Patterson and Royal Oak) looks pretty ground scraping - even the older buildings on the south side of Kingsway are generally at least a few storeys tall.

[jollyburger]

Originally Posted by Sheba

Yeah Old Orchard is one of the lots I'm surprised hasn't seen a development proposal (also next door where Earls used to be). Around half of the north side of Kingsway (between Patterson and Royal Oak) looks pretty ground scraping - even the older buildings on the south side of Kingsway are generally at least a few storeys tall.

Seems like a buy and hold for a long time play? Prospero/Robert Lee

https://www.prospero.ca/properties/o...opping-centre/

[chowhou]

Another entry in my ongoing hatred towards Alaska Brentwood:

Source: Me, 10-04-2023


[Larger image]

Taken from the intersection of Dawson and Rosser. Never realised you could look at it from this angle. God just look at it. I can just imagine the algae and moss growing on this side (north) in the future.

[Lexus]

2023, Apr 13

Burnaby Hospital

Untitled by Lexus LX600, on Flickr

Untitled by Lexus LX600, on Flickr

EA Games

Untitled by Lexus LX600, on Flickr

Untitled by Lexus LX600, on Flickr

BCIT

Untitled by Lexus LX600, on Flickr

Untitled by Lexus LX600, on Flickr

Untitled by Lexus LX600, on Flickr

Untitled by Lexus LX600, on Flickr

Untitled by Lexus LX600, on Flickr

Tailor

Untitled by Lexus LX600, on Flickr

Alaska

Untitled by Lexus LX600, on Flickr

Southyards | Brentwood

Untitled by Lexus LX600, on Flickr

Untitled by Lexus LX600, on Flickr

Untitled by Lexus LX600, on Flickr

[Lexus]

2023, Apr 13

I think I took similar angle pano photo couple of years ago...it surely changed a lot since then!

Untitled by Lexus LX600, on Flickr

[chowhou]

Thanks as always for the updates Lexus!

I think this "truck" you captured in your photo is what we should aspire to in the future.

[officedweller]

Thanks!
The one with the green and blue spandrel is "Tailor".

[Lexus]

Originally Posted by officedweller

Thanks!
The one with the green and blue spandrel is "Tailor".

Added, thanks.

Alaska looks to have plenty of room to add some sort of pedestrian crossing in future across the rail road tracks.

[Redtruck]

Originally Posted by Lexus

Added, thanks.

Alaska looks to have plenty of room to add some sort of pedestrian crossing in future across the rail road tracks.

I believe the plan is to put one in near Beta. Maybe once they extend Alaska street? Hopefully it's soon because they desperately need one.

[Spr0ckets]

Originally Posted by chowhou

Thanks as always for the updates Lexus!

I think this "truck" you captured in your photo is what we should aspire to in the future.

In these tough economic times with high inflation and belt-tightening, that's the sort of downsizing that should inspire us all.

[SpongeG]

Will BCIT ever develop that corner parking lot on Canada Way and Willingdon?

Also the lot across from there on the west side is getting cleared now

[jollyburger]

Originally Posted by SpongeG

Will BCIT ever develop that corner parking lot on Canada Way and Willingdon?

Also the lot across from there on the west side is getting cleared now

They imagined some kind of hotel/retail/housing in the 2018 Master Plan

https://www.bcit.ca/files/facilities...d_may_2018.pdf

Webcam for the Tall Timber Student Housing



NE Corner of the campus

[SpongeG]

ah ok. Such a prime piece for them and sad to see it wasted.

[trofirhen]

Originally Posted by SpongeG

ah ok. Such a prime piece for them and sad to see it wasted.

Out of polite interest, how would you envision it being developed?

[madog222]

Originally Posted by SpongeG

ah ok. Such a prime piece for them and sad to see it wasted.

I think you misunderstood.

The Trades and Technology building pictured is for the NE corner (Canada Way & Carey) where NE9 is now.

The NW corner (Canada Way & Willingdon, parking lot Q) is planned to be student housing.

[ecbin]

Originally Posted by madog222

I think you misunderstood.

The Trades and Technology building pictured is for the NE corner (Canada Way & Carey) where NE9 is now.

The NW corner (Canada Way & Willingdon, parking lot Q) is planned to be student housing.

Assuming that one day a skytrain line will run along Willingdon and likely stop at Canada Way AND that the Canada Way/Willingdon corner is the busiest corner of BCIT it seems odd that they'd stick housing there when it'd probably be more suited to holding office space first and foremost (or at least a significant blend of it).

That said, that area around that intersection has potential for some good mixed used development especially if the gas stations go away.