With the real estate (and rental) market going off the charts in the city, it’s nice to know that new and exciting developments are coming around the region. Today, the development company Grosvenor unveiled plans for a massive new development in Burnaby, which will feature Western Canada’s tallest rental-only tower.
Located just a block away from the Brentwood Town Centre SkyTrain station, the 7.9 acre site will be transformed into a huge mixed-used development. The current plans include both residential and commercial space, with a focus on pedestrian-friendly living.
So, it makes sense that the 60-storey building will also be the home of Western Canada’s tallest rental-only tower. The entire development will feature 2,450 units, 450 of which will be offered at below-market rates (20% below CMHC median rental rates for the area).
Alongside it, Grosvenor will be bringing some 200,000 square feet of commercial space to the development, as well as a 100,000 square foot community centre intended to service the entire City of Burnaby.
The development is still in early stages, but was just approved by the City of Burnaby to move forward with the consultation portion of planning. If you’re curious about the project, you can learn more on the Grosvenor Brentwood website.