[BURNABY] 6280-6350 Willingdon Ave | 35, 38 fl | Proposed

[Lexus]

https://dailyhive.com/vancouver/6280...avenue-burnaby

Developer Wesgroup Properties


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[Klazu]

Five underground levels contain 804 vehicle parking stalls and over 1,500 secured bike parking spaces. Other transportation management measures include a monthly transit pass subsidy equivalent to a two-zone pass for 65% of the condominium units for one year and 15 shared bikes for residents.

Haven't seen that before and I wonder how well maintained those bikes will be over time. Also the transit pass subsidy is just weird, like why and for just one year?

[Ailurus]

This one is officially being marketed as "Reign" now, with a full website. Hope that means it's starting soon.

https://wesgroup.ca/reign/

[osirisboy]

I’m seeing ads for it everywhere online

[Klazu]

I am most interested on what is the project shown between this and Standard?

[madog222]

Originally Posted by Klazu

I am most interested on what is the project shown between this and Standard?

Willingdon by Westland Living, same developer as Telford at Telford & Beresford. No rezoning has been submitted as far as I can tell.


Image from Westland / Chris Dikeakos Architects https://www.westlandliving.ca/homes/willingdon

[jollyburger]

Going to final reading this week.

[gaviscon]

Could have lined this stretch with retail... What a waste

[Spr0ckets]

Originally Posted by gaviscon

Could have lined this stretch with retail... What a waste

Agreed.

Modello has some retail on the Willingdon-facing side of it's podium.

It's a pity the other three developments didn't follow suit and program some retail on that side too and activating Willingdon even more, south of Central Ave.

I can't quite remember if Reign has any retail component to it, let alone on that Willingdon side (which is the only side it would make sense to place some retail units) but the Townhomes on the Westland project and Anthem's Standard seem like a lost opportunity.

[Sheba]

Originally Posted by gaviscon

Could have lined this stretch with retail... What a waste

Complain at the city then - this area is zoned as High Density Residential (not High Density Mixed Use).

[jollyburger]

The future developments next to Maywood/McKay are allowed some local commercial.

[jollyburger]

Approved



https://storeys.com/wesgroup-propert...eign-approval/

[jollyburger]

The 38- and 35-storey towers, called Reign, are located at 6280 and 6350 Willingdon Ave., and could possibly be built together depending on the effectiveness of the presales, Dean Johnson, vice-president, development with Wesgroup told RENX in an interview.

With Reign, Johnson said Wesgroup hopes to begin construction on the first tower by January and could build both towers at the same time.

https://renx.ca/market-strains-dont-...r-reign-condos

[Spr0ckets]

Originally Posted by jollyburger

https://renx.ca/market-strains-dont-...r-reign-condos

So does anyone have any idea if their presales were good enough to allow them to do both towers at once versus building them separately in a phased construction?

Other projects and developers in the area seem to be reporting relatively healthy, if not strong presales for their pending projects (specifically Anthem with both Citizen and Ethos), despite the interest rate situation.

I would imagine for a developer it might make some sense to bite the bullet and proceed with a project now - if presales are strong enought o justify it - even with the current inflation situation, and high interest rate and borrowing market and all, .......as opposed to waiting a year or a couple of years for the interest rate levels to cool down, only to have construction and labor costs (...and all corresponding taxes) having risen in that time.

But I'm not really sure how they work out their cost-benefit analysis
for a stituation such as the one we are in today.

[jollyburger]

Originally Posted by Spr0ckets

So does anyone have any idea if their presales were good enough to allow them to do both towers at once versus building them separately in a phased construction?

Other projects and developers in the area seem to be reporting relatively healthy, if not strong presales for their pending projects (specifically Anthem with both Citizen and Ethos), despite the interest rate situation.

I would imagine for a developer it might make some sense to bite the bullet and proceed with a project now - if presales are strong enought o justify it - even with the current inflation situation, and high interest rate and borrowing market and all, .......as opposed to waiting a year or a couple of years for the interest rate levels to cool down, only to have construction and labor costs (...and all corresponding taxes) having risen in that time.

But I'm not really sure how they work out their cost-benefit analysis
for a stituation such as the one we are in today.

I guess the higher payments to the city with new ACCs might play a factor in when they proceed as well?

[Spr0ckets]

Originally Posted by jollyburger

I guess the higher payments to the city with new ACCs might play a factor in when they proceed as well?

Oh yeah, that's right.
I hadn't considered that.

But the ACC's wouldn't go into effect until June, and with them having already gotten final approval would they still be affected?

[Klazu]

Are they talking about construction start in January 2025? That's still very far.

Also to previous comment about retail along Willingdon, that is not a good idea. There has been a real struggle to lease out all the retail along Beresford, which is more central and still took five years to make happen.