A joint partnership has been established between local developer Anthem Properties and Crestpoint Real Estate Investments for the massive infill development of the iconic Telus Boot office tower site in Burnaby.
This follows H&R Real Estate Investment Trust’s sale of a 50% ownership interest in the development to Crestpoint earlier in 2024 in a deal worth $82.5 million.
“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 Eric Carlson, the founder and CEO of Anthem, in a statement last week.
“This project is another example of thinking differently about how to leverage opportunities as we navigate challenging market conditions.”
A spokesperson for Anthem also told Daily Hive Urbanized that developer PC Urban is no longer involved in the project. The rezoning application initiated by PC Urban in 2023 is currently going through the City of Burnaby’s review and approval processes.
The site of the Boot, formally known as the Telus Brian Canfield Centre, spans 6.6 acres at 3777-3791 Kingsway — the northeast corner of the intersection of Kingsway and Boundary Road. The multi-phased Central Park Commons project, designed by Arcadis, aims to develop the existing surface vehicle parking lots.
Site of Central Park Commons at the Telus Boot at 3777-3791 Kingsway, Burnaby. (Arcadis/PC Urban)
Existing condition:
Existing condition of the Telus Boot at 3777-3791 Kingsway, Burnaby. (Google Maps)
Future condition:
2023 site plan of Central Park Commons at the Telus Boot at 3777-3791 Kingsway, Burnaby, with the previous building heights and phasing depicted. (Arcadis/PC Urban)
Site plan of Central Park Commons at the Telus Boot at 3777-3791 Kingsway, Burnaby. (Arcadis/PC Urban)
The 1976-built, L-shaped, 21-storey office tower was originally constructed for the headquarters office of BC-Tel, now known as Telus. Since it was built, the tower has provided a visual landmark for the Vancouver-Burnaby municipal border.
Central Park Commons will consist of five new additional towers with residential uses for a total of approximately 2,535 homes and about 43,000 sq ft of retail and restaurant uses.
Existing condition:
Existing condition of the Telus Boot at 3777-3791 Kingsway, Burnaby. (Google Maps)
Future condition:
Artistic rendering of Central Park Commons at the Telus Boot at 3777-3791 Kingsway, Burnaby. (Arcadis/PC Urban)
Artistic rendering of Central Park Commons at the Telus Boot at 3777-3791 Kingsway, Burnaby. (Arcadis/PC Urban)
Artistic rendering of Central Park Commons at the Telus Boot at 3777-3791 Kingsway, Burnaby. (Arcadis/PC Urban)
This includes about 724 secured purpose-built market rental homes in two towers reaching 31 storeys and 38 storeys at the southeast corner of the site, replacing a surface vehicle parking lot fronting Kingsway.
The potential unit size mix of the market rental housing tenure component is 88 studios, 245 one-bedroom units, 125 one-bedroom units with a den, 132 two-bedroom units, 67 two-bedroom units with a den, and 67 three-bedroom units. The ground level of the connected base podium in these rental towers entail about 6,500 sq ft of retail and restaurant uses.
To support these rental housing towers, there will be over 400 vehicle parking stalls and 1,454 secured bike parking spaces. Currently, the site has 364 vehicle parking stalls serving the office tower.
Existing condition:
Existing condition of the Telus Boot at 3777-3791 Kingsway, Burnaby. (Google Maps)
Future condition:
Artistic rendering of Central Park Commons at the Telus Boot at 3777-3791 Kingsway, Burnaby. (Arcadis/PC Urban)
Both rental housing towers represent the first phase of the project. According to Anthem, if all goes according to plan with the municipal government’s approvals, site preparation work could begin in Fall 2024.
The second phase is located on the northwest corner of the site, fronting Boundary Road — right next to the intersection of Boundary Road and Vanness Avenue. Three towers reaching up to 52, 60, and 64 storeys in height will contain about 1,559 strata market ownership homes, 252 secured purpose-built below-market rental homes, and 37,000 sq ft of retail and restaurant uses.
Two phases and uses of the Central Park Commons development at the Telus Boot at 3777-3791 Kingsway, Burnaby. (City of Burnaby)
In order to achieve the second phase, the Boot’s existing 10-storey office base podium fronting Boundary Road will be demolished, which will reduce the site’s total office space from about 687,0000 sq ft to 512,000 sq ft. The existing main 21-storey Boot office tower at the corner with the prominent intersection will be retained and integrated with the new development.
The five new towers will generate 2.04 million sq ft of total building floor area — adding to the retained portion of the office tower.
H&R Real Estate Investment Trust has indicated that its 2024 net operating income from the aging office-only property was expected to be about $3.7 million.
The Boot’s existing pedestrian overpass over Kingsway will be retained and upgraded. Using the pedestrian overpass and the BC Parkway pathway, the site is about a 13-minute walk to SkyTrain Patterson Station in the east. The City of Burnaby already has standalone plans to significantly improve the BC Parkway throughout the Metrotown area between Central Park’s Kingsway edge — where the Boot is located — and SkyTrain Royal Oak Station.
As well, SkyTrain Joyce-Collingwood Station is about a 15-minute walk to the west, and the development site is served by frequent bus routes.