There are several Metro Vancouver master-planned communities that boast of being one of the biggest in the province, but none can say they are the country’s largest new master-planned community.
That is exactly what Shape Properties’ The City of Lougheed can claim. Once completed, this massive long-term, $7-billion project will redefine this neighbourhood.
“We sit on 40 acres, which once completed will consist of roughly 23 high-rise towers with 1.4 million square feet of retail space,” says Angelica Yang, project manager for The City of Lougheed, Shape Properties, adding they anticipate 300-plus new shops and restaurants, including an urban grocery store in Phase ONE, SkyTrain lines and more, directly on the site. “The City of Lougheed will also cover the current site of the Lougheed Town Centre shopping mall, which will undergo a major transformation as the area is built up.”
The First Neighbourhood launches October 1 and will comprise four towers. The first tower to be unveiled, Tower ONE is a 55-plus storey concrete high rise featuring more than 500 one-, two- and three-bedroom condominiums. The homes will be highlighted by European cabinetry, laminate hardwood floors, eight-foot-eight-inch ceilings and Bosch appliances. The homes will blur the line between the indoor and outdoor with end to end decks that span the entire width of the apartments.
“We are hearing from downsizers, first-time home buyers, parents buying for their children and investors,” says Yang. “The majority of our buyers at Brentwood (the company’s 28-acre master-planned community nearby which featured 1,400 homes and sold out in 21 months) were locals and we are expecting much the same for The City of Lougheed.”
Residents in Tower ONE will also have access to an 18,000-square-foot, three-level indoor/outdoor amenity facility. It will be have a fitness centre with yoga studio, a private event lounges with full entertainment kitchens, while outdoors will feature a rooftop greenspace with community gardens, barbecue facilities and a children’s play area.
“We will also have two guest suites in this tower, with more suites to come over Phase one,” she explains.
Although a relatively newcomer in Metro Vancouver’s redevelopment, Shape Properties is leading some of the largest and most exciting projects currently underway in North America.
“Shape Properties is committed to Burnaby and the goal is to replicate the energy and vibe of downtown Vancouver in one of Metro Vancouver’s most established and beloved neighbourhoods,” adds Yang. “For buyers who get in early, we believe it is a good opportunity to witness growth in their investment.”
The City of Lougheed will offer easy access to two SkyTrain lines directly on site, the existing Millennium Line and the Evergreen Line (coming early 2017) connecting at Lougheed Town Centre. Home owners will also be just minutes away from two top ranking post secondary institutions - Simon Fraser University and BCIT.
On Saturday, October 1, The City of Lougheed’s Tower ONE opens for preview. The 18,000-square-foot presentation centre and three designer show homes, located at 9850 Austin Road, Burnaby, will then open daily from noon to 6pm.
For more information, call 604-328-7128, email [email protected] or visit www.thecityoflougheed.com. Prices start from $329,900. Occupancy for The First Neighbourhood is slated for late 2020.
