The rezoning application for Phase 2 of Concord Pacific’s Concord Brentwood project is moving to first reading. The overall project master plan was approved by the City of Burnaby in 2016, with individual phases requiring detailed rezoning applications.

The first phases of the project (1a and 1b) are currently under construction and summarized as follows:

• Hillside West – two towers (44 & 49-storeys), 892 units. Sold out in early 2018.
• Hillside East – two towers (55 & 45-storeys), 900 units. Over 90% sold out.

Phase 2 of the site is located within the “Flatlands” subarea of the overall site, and fronts the future Dawson Street extension and Yukon Crescent. Phase 2 totals 204,000 SF and consists of two high-rise residential buildings, one mid-rise residential building, a low-rise residential podium, common amenities (super club), and street oriented retail uses atop, and fronting, underground and structured parking.

Details include:

• A 45-storey tower, a 50-storey tower, and an 18-storey tower
• 825 total condo units;
  • 247 one-bedrooms, 438 two-bedrooms & 218 three-bedrooms;
• 50,000 SF of retail space (0.25 FAR);
• A 31,000 SF “Super Club” serving all phases of the project that includes fitness space with gym, pool, bowling alley & spa.
• A total density of 4.97 FAR;
• 1,001 underground parking spaces;
• New roadways including:
  • Extension of Dawson Street
  • Construction of Douglas Road/Delta Avenue and Lougheed Hwy intersection
  • New pedestrian and cycling routes

A 25,000 SF C-2 zoned property in Mount Pleasant has sold for $26,500,000, or $424 per buildable SF. 398 Kingsway is prominently located at the Southwest corner of Kingsway and East 12th Avenue. The site is irregular in shape and the C-2 zoning allows outright development for four storeys, 2.50 FSR. It is not known if the intent is to develop under the existing zoning, or to rezone. The site is currently improved with older lowrise auto-service uses.

The site had been listed for sale in the Summer of 2018 with Colliers at an asking price of $30,000,000.

A strip retail plaza located on an 18,202 SF site at 8257 Oak Street at the Northwest corner of Oak Street and West 67th Avenue has sold for $20,000,000. The existing building is anchored by Starbucks, with five additional local tenants. The site had been listed for sale in 2016 without an asking price.

The site is located in the Marpole Community Plan area, which allows for potential rezoning to 3.0 FSR, and up to 8-storeys. A formal rezoning application has not yet been submitted.

Coromandel Properties is currently under construction with a 43-unit project across the street called “Winston at South Oak”, which will complete in the Spring 2020.

Based on the sale price, 8257 Oak sold for $366 per buildable SF.