Peterson Group

It was one of the top land deals of 2018 in Metro Vancouver, and the sale of the Saputo milk plant in Burnaby is set to transform the area around Sperling-Burnaby Lake SkyTrain station into a new town centre.

The 19-acre site was sold for $209 million to Peterson Group, a Vancouver-based developer behind developments like the Shangri-La Vancouver, Woodwards, 1550 Alberni and Hudson Walk 2 in Victoria. Cushman & Wakefield handled the sale to Peterson.

The Saputo milk plant will be moving to a new building in Port Coquitlam in 2021, and the former milk plant site is expected to be redeveloped into a high-density, mixed-use community.

Interestingly, the property directly adjacent to the Saputo site is also for sale, and is also being marketed as a transit-oriented development opportunity. The site was formerly home to a BCTel/TELUS operations building, which has been demolished.

The listing for 7000 Lougheed Highway by Colliers Canada says it’s a “unique opportunity to be at the forefront of neighbourhood planning to develop a visionary, master-planned urban village featuring an optimized mix of building forms and unit types largely unachievable in the Town Centre areas.”

“Site topography provides for stunning views overlooking Burnaby, Vancouver and the North Shore Mountains,” the listing states.

Redevelopment of the two sites could add thousands of new residents, commercial and job space to the area, which is in an ideal location along SkyTrain and overlooking Burnaby Lake.

With the redevelopment of nearby Brentwood Town Centre and Lougheed Town Centre well underway, Sperling-Burnaby Lake could be the area’s next big transformative project.

A plan to dramatically reshape Langara Gardens on Cambie Street between West 54th and West 57th is taking shape.

The City of Vancouver, Concert Properties and Peterson Group have released a policy statement to guide redevelopment of the 21-acre site, which is adjacent to another major redevelopment — the Pearson Dogwood lands by Onni.

The plan calls for the creation of up to 2,000 new homes in a variety of building types ranging from three to 28 storeys. A minimum of 20 per cent of the units are required to be affordable housing units.

The four existing concrete highrise towers, all but one of which were built in the late 1960s, will be retained. They will be structurally upgraded to improve performance in the event of an earthquake.

There will be 25,000 square feet of “locally serving retail,” and retail spaces in the podium of the existing towers will be retrofitted. Two new north-south roads will be created through the site, with a focus on pedestrians and cyclists.

The redevelopment will also add new health facilities, a future YMCA, a large park and a 69-space childcare centre. The existing track across from Sir Winston Churchill Secondary School will also be enhanced.

Langara Gardens redevelopment map — Langara Gardens redevelopment concept. Credit: City of Vancouver

When the Canada Line was built, provisions were made for a future station at the corner of West 57th Avenue and Cambie Street. Some funds from the redevelopment of Langara Gardens will be allocated for the potential future station, although no specifics were available.

The architect on the project is James K.M. Cheng Architects.

Saputo’s Burnaby milk plant sold for $209 million, new town centre envisioned

Massive redevelopment of Langara Gardens to add 2,000 new homes