A 46-storey tower has been proposed for the Southeast corner of Halifax Street and Gilmore Avenue in the Brentwood Town Centre area of Burnaby. The rezoning proposal for the site at 1846-1904 Gilmore Ave includes 340 units, 374 underground parking spaces, and a total density of 5.0 FAR under the City’s RM-5s designation.

Source: City of Burnaby

After numerous nights of discussion, Vancouver City Council approved the Beach Towers proposal (view it HERE) this morning.  The project will add 133 units and nearly 100,000 square feet of density to the property. 

Council will get back at it on Wednesday night when a proposal for 633 Main Street by Blue Sky Properties (view it HERE) is contemplated.  The proposal is for 188 units over 16 storeys with retail at grade. 

Richmond Review – Intracorp brings River Park Place to Richmond.

Located in the heart of Richmond’s Oval Village neighbourhood, River Park Place will be part of a master-planned community that is pedestrian-friendly and just minutes away from everything that Richmond has to offer. Whether it’s a walk on the dyke that winds all the way to Steveston or some evening entertainment at the River Rock Casino, nothing is out of reach.

The Richmond Oval Village is expected to become a new lifestyle hub, with restaurants, shops and leisure activities, and Intracorp is getting in at the start of it. A new T&T Supermarket, scheduled to open in late 2013, will add to the convenience. Grocery shopping will literally be walking distance away from your home at River Park Place.

The first phase of River Park Place is expected to go on sale in spring 2013, and will feature a 15-storey tower with one-, two- and three-bedroom homes. The floorplans are efficient and modern, with huge windows to take in your river and mountain views and gorgeous interior finishings.

Read more: http://www.richmondreview.com/business/191881571.html

NOTE: OMERS is the parent company of Oxford Properties, owners or part owners of the Marine Building, Gusiness Tower, Oceanic Plaza, 1021 West Hastings Street, 1133 Melville Street, 800 Burrard Street and 401 West Georgia in Vancouver.

OMERS Net Assets Surpass $60 Billion in 2012 With 10% Investment Return.

“TORONTO, ONTARIO–(Marketwire – Feb. 22, 2013) – OMERS, one of Canada’s largest pension plans, today announced its 2012 financial results. OMERS net assets grew to $60.8 billion, rising by $5.7 billion in 2012 and by over $17 billion since the 2008 global credit crisis. Now in its 50^th year, OMERS is an active, diversified investor, pension innovator, and an engine of economic growth and employment in Ontario and Canada.

OMERS total Plan investment return of 10% was driven by strong performance in its private market portfolio and solid public market performance in line with expectations and current market conditions. “OMERS had a strong year in 2012. The $5.7 billion increase in our net assets demonstrates the strength and robustness of OMERS business model with the capacity to generate growing investment cash yields and more than ample liquidity to withstand market shocks under stressed financial conditions,” said Michael Nobrega, OMERS President and CEO.

OMERS private market portfolio had a 13.8% investment return – with returns of 19.2% (OMERS Private Equity), 16.9% (Oxford Properties), 12.7% (Borealis Infrastructure) and negative 10.1% (OMERS Strategic Investments). OMERS Strategic Investments, which represents less than two and a half per cent of OMERS net investments, has its principal assets in Alberta’s oil and gas sector. The year-end valuation of these assets was negatively impacted as oil and gas prices fell to their lowest levels in five years.

OMERS Capital Markets, which manages the public market portfolio including public equities, fixed income and debt investments, generated a 7.5% return. “

Retail and real estate analysts believe large retailers such as Walmart or Target could start pushing for construction of a new mall on either of two downtown blocks that are ripe for redevelopment.

Canada Post’s sale in January of its long-time Vancouver headquarters to BC Investment Management Corp. (BCIMC) has opened up the block bounded by Georgia, Homer, Dunsmuir and Hamilton streets.

Two blocks east is Larwill Park, which is owned by the City of Vancouver and bounded by Georgia, Cambie, Dunsmuir and Beatty streets.

The Vancouver Art Gallery (VAG) is hoping to convince the city at a meeting, likely to be held in early March, that it should be given the site – which some estimate to be worth $200 million – to build a new $300 million gallery.