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.
Apartment, Development

Fourth Tower at City of Lougheed to Include 237 Rental Units

Shape Properties has filed a rezoning application for their fourth and final tower of Phase 1 of The City of Lougheed, a massive 40-acre, 23-tower master planned site of the current/former Lougheed Mall. Phase 1 is the Southeast corner of the site, fronting North Road and Austin Road, and the first tower has sold out.

Overall City of Lougheed Site & Phase 1 Location

Tower 4 will be the shortest of the first four towers, and is located on the Northeast portion of the Phase 1 lands, which are now moving through site preparation. Details for this part of Phase 1 include:

  • a 30-storey tower
  • 237 rental apartment units
  • 23 studios, 104 one-bedrooms, 110 two-bedrooms
  • 2,777 SF of retail space at grade
  • 114 parking spaces

Interestingly, the developer plans to stratify the units, but keep them as rental with a covenant protecting them as rental for a minimum 5 years.

Phase 1 Detail

December 9, 2017by david.taylor@colliers.com

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