- Closes partnership with a Canadian pension treasure and Westerkirk Capital Inc., a BC-based population workplace, to develop 1,730 unused properties in first segment of seven.9-acre magician deliberate mission
VANCOUVER, BC, Oct. 10, 2024 /PRNewswire/ — Grosvenor, a global attribute proprietor and developer with a 70+ presen monitor document in North The usa, publicizes that it has established a three way partnership for segment one in all its master-planned construction in Metro Vancouver known as Brentwood Block. Grosvenor is partnering with a Canadian pension treasure and BC-based population workplace Westerkirk Capital Inc., for the C$1.5 billion first segment of the 7.9 acre master-plan in Burnaby’s swiftly evolving Brentwood neighbourhood.
The primary segment of Brentwood Forbid will ship 1,730 much-needed unused properties (together with 1,279 apartment gadgets, 204 of which might be below-market charge), a unused multi-storey nation centre and 200,000 sq. ft of business field. The fully-entitled construction is situated in one in all Metro Vancouver’s fastest-growing neighbourhoods, one restrain from the Brentwood SkyTrain station. Condo pre-sales get started September 2024; building will start in early 2025 and crowning glory is predicted in 2030.
Steve O’Connell, Well-known Government for Grosvenor’s North American attribute industry, mentioned:
“We are thrilled to be embarking on this meaningful project with our partners. We have been crafting this mixed-use community for many years to provide an array of housing options, neighbourhood serving retail, and the City’s impressive community centre – all designed to meet our Net Zero operational carbon ambitions and our high standards for design and quality. We are very proud to be making a contribution to meet the housing supply needs of the region in such a high-quality and sustainable manner.”
The mission’s vital apartment housing detail is without doubt one of the greatest in Metro Vancouver, together with the tallest all-rental tower in Western Canada at over 60 storeys. Brentwood Forbid will even ship 50,000 sq. ft of inexperienced field, a 44,000 sq. foundation grocery gather and unused retail then to the Brentwood SkyTrain Station.
Jamie Delmotte, Well-known Co-Funding Officer for Grosvenor’s North American attribute industry, mentioned:
“Developing and owning properties through select capital partnerships is a central part of our business in Canada and the US. The joint venture formation at Brentwood Block is especially remarkable as it signals the start of one of our largest contributions to the North American housing market to date, delivering needed housing in supply-constrained Metro Vancouver. With current market conditions, these kinds of capital market partnerships are necessary for successful development today, and we will likely be seeing an increasing number of joint-ventures such as this one in the years to come.”
Brentwood Forbid will exceed the Town of Burnaby’s sustainability necessities thru 100% electrification of in-suite home equipment, field heating and cooling methods, LED lights and shrewd thermostats. The mission will even meet Grosvenor’s 2030 Constancy to reach Web 0 Operational Carbon thru environment friendly envelope design, low carbon methods and renewable power.
Brentwood Forbid is the untouched addition to Grosvenor’s intensive legacy of attribute construction and possession in Metro Vancouver. Since 1952, the company has constructed and owned vital residential, industrial, and mixed-use homes within the patch, maximum discovered thru long-term partnerships. Remarkable contemporary trends come with the multi-award-winning Grosvenor Ambleside in West Vancouver, The RISE—a full-city restrain at the Cambie Side road hall, Connaught in North Vancouver, and The Pacific, a 39-storey residential tower in downtown Vancouver.
Utmost moment, Grosvenor unpriviledged field on Whitford—a 68-unit townhome construction in Vancouver’s Shaughnessy neighbourhood. Grosvenor could also be advancing plans for its 14-acre Mayfair West web page, poised to bring a 1.5 million sq. foundation mixed-use nation at 41st and Oak Side road in Vancouver. The mission will property 17 structures, over 1,600 properties, a childcare facility and a two-acre community soil.
About Grosvenor
Grosvenor has operated a different actual property industry in North The usa since 1952. We focal point on colourful city places, making a good contribution to native neighbourhoods and communities.
As of December 31, 2023, we had belongings beneath control of US$3.8bn/C$5.0bn, together with 71 top of the range homes, and is turning in on a US$4.9bn/C$6.5bn construction pipeline in North The usa. In keeping with the company’s farsighted technique to possession and construction, we worth long-term capital partnerships; throughout our 9 lively capital companions, the common courting range is eighteen years.
Observe us on
LinkedIn: Grosvenor | Instagram: ThisisGrosvenor
or discuss with: BrentwoodBlock.com
For more info:
In Canada:
Cori Howard Communications
Cori Howard
+1 778-987-1345
[email protected]
In america:
Admirable Ink Communications
Tom Nolan, Eric Waters
+1 212-741-2977
[email protected]
SOURCE Grosvenor
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