Here is the current construction progress on Westbank’s Telus Garden, the condo component of the mixed-use project at Richards and Robson. The project features a 52-storey tower with 424 condo units, which sold out almost immediately after being offered to insiders and Telus employees only.

Photos courtesy: 604 City, Flickr.

17 units have been assigned during the construction. The average sale value of these assignments is $914 per SF.

8010 Saba Road in Richmond has sold for $24,250,000. The property is improved with a 33,456 SF retail and office building whose main tenants include HSBC and National Bank Financial. The purchase price equates to a 4.4% cap rate, or $722 per SF. The building was sold by bid process in June with no asking price.

Here is a video overview of the property by the listing agent, Cushman Wakefield:

8010 Saba Road, Richmond BC from Cushman & Wakefield | Vancouver on Vimeo.

Ledingham McAllister is moving forward with a rezoning application to develop a 59,244 SF site at 5415 Lougheed Highway in the Brentwood area of Burnaby with a four-storey apartment building with three-storey townhouses fronting Broadway and Lougheed Highway. Plans include:

• 101 condo units
• a total density of 1.50 FAR
• 32 one-bedroom units and 69 two-bedroom units
• 123 underground parking spaces
• $3,022,760 CAC ($130 per buildable SF x 0.4 FAR town centre bonus)