Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
Vancouver Market - Tracking commercial real estate investment sales across Metro Vancouver — sale prices, cap rates, and $/SF data for apartment, retail, office, land, and development transactions. By David Taylor, SVP at Colliers International Canada.
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Development

Big Plans for Burnaby’s Woodlands Neighbourhood

Peppered with industrial businesses, Woodlands doesn’t look like Burnaby’s next up-and-coming neighbourhood.

But Concord Pacific and the City of Burnaby have an ambitious plan for the 26-acre area, which lies south of Lougheed Highway, east of Beta Avenue, west of Delta Avenue, and extends south toward the rail line.

Burnaby’s planning and building director Lou Pelletier detailed the site concept in a report presented to council at Monday night’s meeting.

“The hard work that’s been done by staff with the developer and the committee in order to make this what I think is a very innovative plan, and one that reflects the best use of the Brentwood Town Centre, is, I think, extremely important,” Mayor Derek Corrigan said at the meeting. “This is a site that has, I think, provided all of us with a few headaches over the years, but it seems we’ve come to a pretty good resolution, and hopefully the community will agree as they go for their consultation.”

The plan  is divided into six areas: the Lougheed parkway at the north end of the site would include a centre median landscaped with trees, shrubs and ambient lighting, according to the report.

The hillside area would include up to four high-rises ranging from 35 to 55 storeys with the option of townhouses on the southern slope. The plan also includes a grand staircase leading south from Lougheed Highway to Yukon Crescent. The hillside would overlook park space to the south.

Read more: http://www.burnabynow.com/news/big-plans-for-burnaby-s-woodlands-neighbourhood-1.1787557

March 11, 2015by david.taylor@colliers.com

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David Taylor Personal Real Estate Corporation

Colliers International

DT

David Taylor

Senior Vice President, Colliers Canada

David Taylor is a Senior Vice President at Colliers International in Vancouver, BC, specializing in the sale of commercial real estate across Metro Vancouver. He has sold over $1.7 Billion in office buildings, retail properties, apartment buildings and development land since 2004.

Vancouver Market chronicles investment and development activity in Metro Vancouver, including sale prices, cap rates, $/SF metrics, and market context for commercial real estate transactions.

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