1,200 rental homes in three towers proposed near SkyTrain's Lougheed Station

Dec 1 2020, 3:33 pm

Even more rental housing is now planned for the infill development project of Lougheed Village, located just west of SkyTrain’s Lougheed Town Centre Station and the redevelopment of Lougheed Town Centre shopping mall into the City of Lougheed.

Toronto-based developer Starlight Investments has indicated it has revised its proposal for further densifying its Lougheed Village rental housing complex.

Currently, the seven-acre site contains four 1970s era concrete apartment towers with 528 units.

In 2018, the developer initially announced plans to add two rental towers — 39 storeys and 48 storeys — to the complex as infill, without demolishing any of the existing buildings and displacing residents. This initial proposal called for about 1,000 rental homes.

lougheed village burnaby

Site of Lougheed Village in Burnaby, about a 10-minute walk from SkyTrain’s Lougheed Town Centre Station. (Google Maps)

lougheed village burnaby

Site of Lougheed Village in Burnaby. (Google Maps)

But now, there are plans to add a third tower, creating tower heights of 48 storeys, 39 storeys, and 36 storeys, for a total of 1,200 new rental homes, making it the single largest rental housing development in Metro Vancouver.

When fully complete, Lougheed Village will have a combined new and old total of 1,728 units.

Previous 2018 proposal with two towers:

Lougheed Village Burnaby

Artistic rendering of the new rental tower additions to Lougheed Village. (NSDA Architects)

Revised 2020 proposal with three towers:

lougheed village burnaby

2020 artistic rendering of the revised infill development of Lougheed Village. (NSDA Architects/Starlight Investments)

All existing rental buildings have been renovated in recent years, including new balconies, lighting, lobbies, common areas, and environmental improvements.

“What makes this project significant is not just the addition of 1,200 new rental suites, but also the preservation of 528 existing residences,” said Josh Kaufman, the head of development and construction for Starlight, in a statement.

“We’re extending the life of the existing suites and transforming the community through the addition of three new towers and best-in-class resident amenities and landscaping. We are excited to collaborate with the City of Burnaby on improving the community and adding much needed rental stock to Burnaby.”

lougheed village burnaby

2020 artistic rendering of the revised infill development of Lougheed Village. (NSDA Architects/Starlight Investments)

For the new towers, there will be a range of unit sizes and configurations — from studios to three-bedroom units — and amenities such as a daycare, gym, swimming pool, children’s playgrounds, outdoor gardens, rooftop terraces, a dog run, multi-purpose sports court, and pollinator garden.

Enhanced pedestrian connections will also be made to the adjacent shopping mall and SkyTrain station.

The expanded scale of this rental housing development is fuelled by the region’s continued strong demand for new rental housing. Within Burnaby, according to a new municipal government report, rental housing supply has decreased by 8.8% — even with all the new development.

The city’s rental vacancy rate is hovering at between 1.3% and 1.7%, far out of the range of what is considered a healthy vacancy rate — between 3% and 5% for both tenants and landlords.

Starlight has grown its BC portfolio to about 4,800 rental homes, including the recent acquisitions of Plaza 88 in downtown New Westminster and the portfolio of Northview Apartment REIT.

Just to the east of Lougheed Village, the $7 billion City of Lougheed redevelopment by Shape Properties over the 37-acre mall site will create 20 towers up to 65 storeys, over 10,000 units of housing, and 1.5 million sq. ft. of new retail — more than doubling the retail space of the existing indoor mall.

Lougheed Town Centre Core Area Master Plan

Lougheed Town Centre Core Area Master Plan. (City of Burnaby)

City of Lougheed Burnaby

Artistic rendering of the City of Lougheed’s transit plaza area. (Shape Properties)

City of Lougheed Burnaby

Artistic rendering of the first phase of the City of Lougheed. (Shape Properties)

City of Lougheed Burnaby

Artistic rendering of the Galleria of the City of Lougheed. (Shape Properties)

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