Keltic Development's ambitious proposal for 5502 Lougheed Highway in Burnaby features three high-rise towers with a total of 1,667 residential units, a mix of strata and rental options, and a focus on sustainable transportation and environmental integration.
Keltic Development has unveiled a proposal for a significant residential development at 5502 Lougheed Highway in Burnaby , British Columbia. The 4.3-acre property, currently home to REVS Bowling, is strategically located steps from the Millennium Line SkyTrain's Holdom Station in the Brentwood neighbourhood. This prime location has long been a popular entertainment and recreation destination.
Acquired by Keltic Development in a $94 million deal in September 2022, the site is poised for a transformative project. The proposal outlines three high-rise towers, each with distinct heights, containing a total of 1,667 residential units. Tower One, the tallest at 60 storeys, will comprise 620 strata units, offering a mix of studio, one-, two-, and three-bedroom configurations. Tower Two, standing 54 storeys high, will feature 570 strata units, while Tower Three, at 46 storeys, will house 477 rental units. Notably, 235 of the rental units in Tower Three will be offered at 20% below the CMHC median rates.The development will include a shared five-storey commercial podium with over 6,900 square feet of commercial space, further enhancing the vibrant community. An underground parkade will provide ample parking for residents, accommodating 1,240 vehicle stalls and 3,676 bicycle parking spaces. To promote sustainable transportation, the developer will implement a Transportation Demand Management (TDM) strategy, offering transit pass subsidies, car share credits, and on-site bicycle repair and maintenance stations. The project also integrates environmental considerations, with a plan to relocate a portion of Beecher Creek to enhance fish habitat circulation
DEVELOPMENT RESIDENTIAL Burnaby BRITISH COLUMBIA KELTIC DEVELOPMENT LOUGHEED HIGHWAY TOWER STRATAS RENTAL TRANSPORTATION DEMAND MANAGEMENT BEECHER CREEK ENVIRONMENTAL INTEGRATION
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