Two real estate developers have acquired an eight-acre site in the City of Burnaby to create a master-planned community that will deliver more than 2,400 new homes.
In a press release, Anthem Properties Group Ltd. said it had acquired an 8.34-acre mixed-use site with KingSett Capital. The land, which is occupied by a surface parking area along with vacant commercial and industrial buildings, is situated at Willingdon Avenue and Dawson Street in Burnaby’s Brentwood Town Centre.
“With this acquisition, we are thrilled to be able to build upon Anthem’s long history of developing large-scale mixed-use projects in the City of Burnaby,” said Eric Carlson, CEO of Anthem in a press release. “In a supply-constrained region undergoing population growth, the project will create a significant amount of housing supply aiming to address the market’s needs at multiple levels.”
Anthem says that the site will be redeveloped into a mixed-use, master-planned community that aligns with Burnaby’s Official Community Plan. Together, Anthem and KingSett plan to create a four-phased project with five residential towers and two wood frame mid-rise affordable rental buildings. A total of 2,100 market condos, 340 rental units and 60,000 square feet of new retail and office space would be distributed among the structures.
As a “major green node,” the phases would be constructed around a one-acre park that would become a “key linkage,” between the Brentwood Town Centre SkyTrain Station and the Urban Trail.
According to details on Anthem’s website for Alpha and Dawson, which is located at the same intersection, phase one of the eight-acre master-planned project will include a 36- and 43-storey residential condo tower.
The Masterplan Rezoning for the multi-tower project is nearing final approval and sales for phase one are expected to start in late 2022, according to Anthem. When complete, the Willingdon Avenue and Dawson Street project would be close to the west tower at Oasis at Concord Brentwood and SOLO 4.
Following the completion of Tandem in 2007, a three-tower mixed-use community, this would be Anthem’s second development within the Brentwood Town Centre plan, the developer said. In Burnaby, Anthem has also opened registration for The Standard and NUVO, the latter of which is due to launch sales in winter-spring 2022.
Kingsett Capital, which is based in Toronto, is one of the developers behind St. Clair Village Condos and has proposed to replace the Courtyard Marriott Hotel with a 75- and 78-storey condo tower.
