BURNABY, British Columbia, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Anthem Properties has partnered with Crestpoint Real Estate Investments Ltd. to manage and develop a 6.6-acre master plan, mixed-use community, at the corner of Kingsway and Boundary Road in Burnaby.
Known locally for its iconic 1970s architectural structure the “Boot”, the redevelopment plan at the site consists of a restoration of the Boot building and more than 2,500 homes in five new towers; a mix of strata condominiums, market rental homes, affordable rental homes and retail space. Located across from Burnaby’s Central Park, on major transportation corridors and with proximity to both Joyce and Patterson SkyTrain stations, the area is highly walkable with an abundance of shops and services nearby.
“Partnering with Crestpoint to capitalize on near-term demand for rental units in one of the fastest growing neighbourhoods in the Lower Mainland presents an excellent opportunity to create a sought-after, destination-based community,” said Anthem CEO & Founder, Eric Carlson. “This project is another example of thinking differently about how to leverage opportunities as we navigate challenging market conditions.”
A rezoning application for the entire site is currently underway with the City of Burnaby. Initial priority is on Phase 1 of the project, which includes building more than 700 market rental units in two structures over a connecting podium, supported by retail, on the south side of the site. Pending the outcome of the City process, site preparation is anticipated to begin in fall of 2024.
About Anthem
Anthem is a real estate development, investment and management company that strives, solves and evolves to create better spaces and stronger communities, with more than 385 residential, commercial and retail projects. Founded in 1991, Anthem is a team of 750+, with a diverse portfolio consisting of 31,500 homes, 10 million square feet of commercial and 9,000 acres of land across in Alberta, British Columbia, Ontario and California. We are Growing Places.
Contact:
Elisha McCallum
Vice President, Communications
Phone: 604.488.3612 Mobile: 778.668.0185
Email: emccallum@anthemproperties.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8390cf86-f3f5-4376-87c7-c703b6bffcca
