Rezoning Plan for Lougheed Village Site Includes Two New Rental Towers
A rezoning application has been submitted to the City of Burnaby for Lougheed Village, a 7.4 acre rental apartment property that is currently improved with two 25-storey concrete high-rise apartment buildings and two 9-storey mid-rise apartment buildings. The site has a total of 528 current rental apartment units.
The property was acquired in December 2015 by Starlight Properties, based in Toronto, for $160 Million. Located within the Lougheed Town Centre Plan area, the property’s value was partially based on the potential to add density, now the subject of a current rezoning application. The rezoning calls to use the RM4s and C1 zones as the basis for a redevelopment that includes four new residential buildings and reconfiguration of some of the existing buildings.
The site fronts Lougheed Highway, but has an address on Erickson Drive.
Details include:
- a new 36-storey rental apartment tower (south tower)
- a new 22-storey rental apartment tower (north tower)
- a new 8-storey rental apartment midrise (“middle lodge”)
- a new 3-storey rental townhouse building
- demolition of the 2nd storey of existing commercial building
- conversion of existing larger penthouse units into 43 new smaller units
- creation of new amenity spaces
- 645 total new rental units
- 1,173 rental units in total
- total density of 3.6 FAR (up from existing 1.88 FAR)
The site sits just one block West of Shape’s large scale mixed-use development “The City of Lougheed” currently in initial stages of development.
If supported at Council, the application will move forward to a more detailed package that would be presented at a public hearing early next year.