Millennium Group is proposing a massive mixed-use development in Burnaby’s Brentwood area.
The proposed project at 4141 Lougheed Highway includes two towers standing 62 and 54 storeys, respectively, on a podium containing a 280-room hotel and ground-floor retail space.
Vancouver-based Millennium has filed a rezoning application with the City of Burnaby. The proposed development would replace an existing warehouse and parking area.
If all goes according to plan, the 62-storey structure will comprise 488 strata residential units and the 54-unit rental apartment building will include 246 market unit and 90 non-market units with rents based on two Canada Mortgage and Housing Corporation thresholds, according to a city staff report.
City administrators, including Development Director Jesse Dill, have endorsed the proposed project. Municipal approval is conditional on Millennium’s intended purchase of city land comprising a lane and portion of Lougheed Highway to be closed.
The site is located near the Gilmore SkyTrain station. Vancouver Mayor Ken Sim has called for his city to emulate Burnaby’s transit-oriented development program.
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.