Everything You Need to Know About the City of Lougheed Tower One Presale

Mariko Baerg Realtor Headshot
Written By: Mariko Baerg, REALTOR of Bridgewell Real Estate Group
If you’re looking for a realtor to help you purchase a property, call me today

Everything You Need to Know About the City of Lougheed Tower One

The City of Lougheed presentation center is up and running at 9850 Austin Ave in Burnaby right by Lougheed station and Lougheed mall (where the Sears outlet used to be).  After our exclusive realtor event, we’ve compiled everything you need to know about Tower One (the first of 4 to sell) to aid in your buying decisions.

city of lougheed presale

The City of Lougheed Future Plan for high-rise buildings in the Burnaby-Coquitlam area, starting with Shape Properties.

EVERYTHING YOU NEED TO KNOW ABOUT TOWER ONE:

  1. Tower One will be located where the Starbucks/Food Court is right now at Lougheed Mall.
  2. Completion is estimated for 2021.
  3. Shape Properties is the developer and have recorded successes, most recently they sold out 3 towers at “The Amazing Brentwood” in Burnaby.
  4. They are selling 1 bedrooms, 2 bedroom, 2 bedroom plus den, 3 bedroom plus den, and 3 bedrooms.
  5. Deposit scheme is: 20% down (10/5/5)
  6. Colour options are: Pearl White, Cashmere Grey, or Jet Black.
  7. They just announced that the building will be fully air conditioned!
  8. The City of Lougheed project by Shape Properties consists of 4 towers total.
  9. HEIGHT OF THE FOUR TOWERS: The first tower is 55 floors, the second tower will be in the mid 40s (south of the 1st tower), the third tower will be in the high 30s (south east of the 1st tower), and the fourth tower will be in the low 30s (east of the 1st tower).
  10. SURROUNDING TOWERS: There is another tower (different developer) planned north of City of Lougheed’s Tower One that is expected to be the same height (55 floors). This means that all units on the north side (aside from the corner units) will have their view blocked, regardless of the floor you are on. The south and east sides will be surrounded by the other 3 City of Lougheed towers. Refer to point 9 for the heights to assist in your decision process. The west side (as of right now) will consist of low, ground level shops.
  11. If you want first dibs on a property, your best bet is to use a realtor. Shape has told us that this project is largely about building relationships with realtors, and creating a strong network for their upcoming developments. Realtors are offered first notice on official pricing schemes, as well as appointments for presentation and writing of sales agreements/offers prior to the public.
  12. The base pricing as of October 2016 has been announced and is as follows:
  • 1 bedrooms starting from $329,900
  • 2 bedrooms starting from $463,900
  • 3 bedrooms starting at $613,900

(Pricing based on floors, added dens, etc. have not been announced yet – stay tuned for details)

If you’re thinking of purchasing a presale property, it’s important that you have a realtor working in your best interest and not the developer’s. For more information on why to hire a buyer’s agent when purchasing a presale, check out our blog here: 8 Reasons To Hire a Presale Realtor

If you’re thinking of assigning your unit, read our blog post here: Everything You Need to Know About Assignments in Real Estate

Not sure which area of the City of Lougheed building/tower to buy? Not sure which floor offers the best view? We have our top picks. Call us anytime to set up a meeting to discuss at 604-765-0376. We have floor plans, sketches, and so much more to help you! Prefer text? 604-319-0200. or email mariko@bridgewellgroup.ca !

Make the home buying process straight-forward from the start. Talk to one of our realtors today.

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Give us a call 604-765-0376 or text 604-319-0200.

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With Bridgewell’s buyer systems and plans we’re determined to find the right home for you efficiently & effectively all while providing you the guidance and education that you need. Whether it’s presale or resale, investment or to live in, we’ve got you covered.

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