The biggest new residential projects in Burnable, B.C., have now reached the end of their waiting period and are now worth the largest sums of money in Burnables history.
The B.K. Subdivision in Surrey and the new B.R. Subunit in Burnaway are both worth $1.8 million and $1 million, respectively, according to a list compiled by property information company Tanglewood.
The three developments are among three properties at the end the wait list that received bids on Tuesday.
Burnables Mayor Mike O’Brien said the five-story, three-bedroom B. K. Substation in Burnabay has the highest assessed value in the city, but it’s not clear if that is the case in terms of what the property is worth.
The subunit will also be built on the site of an old coal-fired power plant that closed in the 1980s.
O’Briens administration has been pushing for the development, which is expected to bring more than 2,000 new residential units, to be built.
It is a project that has been the subject of intense political lobbying in the past, with opposition parties calling for it to be delayed.
Oleg Skopek, a developer in Burnside, said he believes the developer’s $1-million bid was the most successful bid.
“They are the highest bid and that was just a matter of waiting until the next day to put that up.
They’ve done very well.
We’re really happy to be in a position to go forward,” he said.
“The whole thing has been built to last a long time.
We’ve had very little change in the last five years, which we are really excited about.”
Tanglewoods list is the result of a review of the real estate market and has not been independently verified by the media, but the company said it’s the largest such listing in the country.
The listing includes a total of 15 properties in Burnabeys most expensive neighbourhoods.
The list includes the $1,000,000 B. R. Sub and $2,200,000 Tangle-wood apartments in Burnawide and the $2.5 million Tanglebark condo and office towers in Burnaways Lower Downtown.
A property at the corner of Queen Street and Hastings Street has a assessed value of $1 billion, and a $2 million property in Burnale is valued at $2 billion.
A Tanglehouse condo in Burnby is valued $1m.
The Tangleby condo tower in Burnbury is $1million and a new $2-million condo is in the works in Burnburn.
The development has been one of the city’s top draws for years.
It includes the former B.B.C. Coal and Iron plant at Burnaby’s former Coal Harbour site, the Burnaby River, and other development projects.
The site is currently being redeveloped and the B.O.C.’s Tangle Mill project is planned for Burnaby Creek.
In 2011, Burnaby had the most expensive rental housing market in the province with more than $2 for every $1 spent.
A decade ago, that figure was just $2 per $1 invested.