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

[yogiderek]

Originally Posted by Alex Mackinnon

No 34, 44 or 54

surprising they didn't got from 39 directly too 50. This truly though is getting absurd with the number 4. What about the fantastic 4, huh? Do they hate those super heroes in Asia.

[cairnstone]

Originally Posted by SpongeG

north burnaby is said to have a pretty high average household income, plus it's close to SFU with students and faculty who live in the area as well as BCIT close too

i can't see many places setting up duplicate stores in metrotown and brentwood, i think it will remain a neighbourhood mall with the kind of stores it has now, unless they can add some attractions and make it a place where people want to go, plus the owners of brentwood own lougheed town centre mall and have ambitious plans for it as well and its about 10-15 minutes east and that mall is doing better than brentwood and has some stores like H&M, sport chek, the body shop, the bay, walmart etc. and seems a lot busier and in a busier area than brentwood

seems like they face a tough road to get any big name stores in either mall

Both properties have a number of empty spaces in them. One of the reasons is the condition of the mall. Look at guilford it has now been rebuilt and is filling up nicely. Many stores will have no problem setting up more than 1 location.
etc,
I think there is 4 Aldos in Metrotown. Park royal has 2 lasenzas.

[faston]

Originally Posted by yogiderek

surprising they didn't got from 39 directly too 50. This truly though is getting absurd with the number 4. What about the fantastic 4, huh? Do they hate those super heroes in Asia.

2014 must be a horrible year for them!

[red-paladin]

Let's drop the superstitious number subject, as we've worn it out on many occasions already.

[zmsmln]

deleted

[faston]

zmsmln, they won't be 'releasing' the lower floors at all. The developer is retaining the bottom 33 (or so) stories for rental properties. They will manage it, as they manage the mall. In fact the building has two separate entrances and foyers, even separate elevator banks. Also, it's a condition of the development permit. Not sure if the second tower is going to be the same configuration.

[GMasterAres]

Originally Posted by red-paladin

Let's drop the superstitious number subject, as we've worn it out on many occasions already.

Noted but my question was really on 58 because I've never seen that one before and actually wanted to know the 'logic.'

[GMasterAres]

Originally Posted by cairnstone

Both properties have a number of empty spaces in them. One of the reasons is the condition of the mall. Look at guilford it has now been rebuilt and is filling up nicely. Many stores will have no problem setting up more than 1 location.
etc,
I think there is 4 Aldos in Metrotown. Park royal has 2 lasenzas.

I think you're right. There also isn't a natural link between Metrotown and Brentwood and given the building around both areas, if I lived in Brentwood I would want to stay there rather than needing to go over to Metrotown to shop.

[theKB]

From my understanding "the amazing brentwood" sold out in a matter of a few hours a few days ago.

http://www.vancouvermarket.ca/2014/06/22/market-update-brentwood-one-sells-out-in-a-day/

It would be interesting to see how many were bought by investors vs. people planning on living there.

[faston]

"This is one of the few times in the recent past where there was a lot of end-users," McTavish said. He estimated 50 to 60 per cent of the buyers plan to live in the units.
The rest are "passive investors," such as people "tired of having money sitting in the bank earning nothing," see it as an alternative to an RRSP, or who bought for a son or daughter to move into.
A small portion of the investors would likely rent out their units, he said.
Many buyers were downsizing from homes in the area or have lived in North Burnaby before. All the buyers had addresses from across the Lower Mainland.
There was also a broad age range of buyers, from 20s to 70s, which "makes for a more vibrant community, not all young, not all old, it's a real mixed bag."

http://www.burnabynewsleader.com/news/264423231.html

Surprisingly, it looks like the majority were bought to move into.

That article also says that they gave out 100 'placeholders' for the next building for those who couldn't get in.

[pqjz]

Originally Posted by faston

http://www.burnabynewsleader.com/news/264423231.html

Surprisingly, it looks like the majority were bought to move into.

That article also says that they gave out 100 'placeholders' for the next building for those who couldn't get in.

This is a good opportunity for people to live on top of a modern mall vs the 1980s metrotown mall.

[rofina]

I would imagine its largely end users.

Why as an investor would you want to compete for renters with a professional management company that rents out the bottom 33 floors?

[pqjz]

Originally Posted by rofina

I would imagine its largely end users.

Why as an investor would you want to compete for renters with a professional management company that rents out the bottom 33 floors?

There won't be competitions. Or by contrast, it will bring more renters to this area. The interior standard is more high above 33 floors. So different renters will pick what they like. There are enough renters in Vancouver.

[AudiA3]

According to the features list, there will be guest suites. How much would they be rented for? And is there normally a limit on how many days my family relatives or friends stay?

[djmk]

Originally Posted by AudiA3

According to the features list, there will be guest suites. How much would they be rented for? And is there normally a limit on how many days my family relatives or friends stay?

buddy, the shovels have not even started digging yet. The strata by-laws are not going to be agreed to yet.

[jb1969]

Originally Posted by AudiA3

According to the features list, there will be guest suites. How much would they be rented for? And is there normally a limit on how many days my family relatives or friends stay?

i have a friend who lives in a condo that has guest suites and the strata will determine the rules, but typically it would be a set charge per day and for up to a predetermined max of say a week. with rules about how often a single owner can have access to the suites. keep in mind there are 290 others condos in the residential portion of the building

[casper]

Originally Posted by jb1969

i have a friend who lives in a condo that has guest suites and the strata will determine the rules, but typically it would be a set charge per day and for up to a predetermined max of say a week. with rules about how often a single owner can have access to the suites. keep in mind there are 290 others condos in the residential portion of the building

The condo development I am in has a guest suite. Similar setup max number of days. If another owner has not claimed/booked the guest suite you can go over the max number of days. You are expected to leave it in a clean state otherwise you will be charged to bring in cleaners. The building I am also has a "resident manager" suite that is leased out by the strata council. I would assume a future board could decide to do a long-term lease instead of day by day. Likely the true use will only be sorted out once the building is built.

[jb1969]

So does anyone know how many of the units came back on the market after the miraculous first day sellout? there is a 7 day rescission period that applies, and I guarantee with 290 units supposedly sold, at least a few would come back for sale after the 7 days.

[AudiA3]

I think people really like this project because Brentwood's location is really central in Metro Vancouver, don't you guys agree?
- North Vancouver is just a few minutes drive from the Highway 1
- Downtown Vancouver, Coquitlam, New Westminster, Surrey, and, in the future, UBC are all commutable by Skytrain
- Metrotown is just 20 minutes away by a single bus
- Richmond city & the Airport is quite far though, around 30 minutes drive

[Alex Mackinnon]

Originally Posted by AudiA3

I think I really like this project because I'm selling it.

Fixed