Canada CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Pacific Canada  + Multi-residential Housing  | 

Burnaby Approves Two Huge Condo Towers

Burnaby city council has approved a mixed-use development project that will include two massive condominium towers.

The development site is adjacent to a SkyTrain station at Lougheed Town Centre, more commonly known as Lougheed mall, at 9850 Austin Road and 9858-9898 Gatineau Place.

Local development and investment firm Pinnacle International received approval to construct 72-storey and 80-storey condo towers. The larger building is set to become the second-tallest building in Western Canada at 259 metres, according to the Burnaby Now.

Together, the buildings will contain 1,466 market condo units.

According to multiple reports, city council’s approval came after Pinnacle made multiple revisions to the original vision for the project.

Barring unforeseen changes, the project will include 515,097 of office spaces and 13,304 square feet of retail premises at ground level. The site currently comprises surface parking lots and a residential sales centre.

Burnaby’s development policy usually requires 20% of new multi-residential projects to include below-market rental homes. But Pinnacle received approval to build the necessary 546 rental units at nearby 3846 Carrigan Court, according to the Now.

That site is located across Lougheed Highway, slightly southwest of the condo development property.

At the Carrigan Court site, plans call for the demolition of 141 existing rental units and construction of a new 354-unit condo tower standing 33 storeys and two rental-apartment buildings of 23 and 25 storeys.

Photo: Pinnacle International

Connect

Inside The Story

Pinnacle InternationalCity of Burnaby

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Lease
  • ◦Sale/Acquisition
  • ◦Development
  • ◦Financing
  • ◦Policy/Gov't
New call-to-action