Once seen as a quieter backdrop to Vancouver’s urban vibrancy, Burnaby is undergoing a transformation. Inspired by the success of Metrotown, Burnaby is extending its community planning prowess to three burgeoning neighborhoods: Edmonds, Royal Oak, and Cascade Heights. Fueled by ambitious urban planning and community integration, the city is unmistakably steering toward urbanization. This growth trajectory has seized the attention of investors and homebuyers, as the region’s history points to a promising future.
The Metrotown Transformation and Downtown Plan Triumph
Propelled by the 2017 Downtown Plan, Metrotown experienced a remarkable surge in development and property values. The statistics underscore the success story: the average price per square foot for new concrete condos surged from $600 in 2014 to an impressive $1,250 today, with standout projects like Concord Metrotown setting new benchmarks above $1,400. By 2024, MLA Advisory’s analysis projects this figure to reach between $1,350 and $1,400, fueled by escalating land and construction costs. Moreover, the average presale unit price jumped from $450,000 in 2014 to a staggering $900,000 today. Despite units shrinking in size — in line with broader trends — from an average of 780-800 square feet in 2014 to around 750 square feet today, the premium on space has surged. Metrotown’s transformative journey, marked by soaring prices and flourishing development, offers a glimpse into the vast potential awaiting Edmonds, Royal Oak, and Cascade Heights as they position themselves to be Burnaby’s next thriving hubs for growth and investment.
Burnaby has unveiled ambitious community plans for Edmonds, Royal Oak, and Cascade Heights, signifying a bold vision for transformation. With these plans now in the public consultation phase, the community’s involvement is pivotal in shaping the trajectory of these neighborhoods. These master plans chart a course for the future of each area, encompassing housing, transportation, park spaces, business growth, and climate action.
Edmonds Town Centre, sprawling across 908 acres and Burnaby’s largest town center, boasts a storied history as the city’s first downtown and a vibrant hub. Burnaby envisions a ‘contemporary’ tri-node development for Edmonds: the Town Centre Node near Kingsway and Edmonds Street, potentially soaring over 50 stories; the Station Area Node around the Edmonds SkyTrain station, with building heights ranging from 20 to 40 stories; and the Southgate Village Node in the southeast, reaching heights of mid 40 stories. These nodes are projected to feature high-density residential and mixed-use buildings, while the Kingsway corridor is anticipated to host medium-density, mid-rise structures.
Royal Oak Urban Village, positioned between Metrotown and Edmonds town centers, encompasses 554 acres. Its primary nodes include the Station Area Node around the Royal Oak SkyTrain station and the Village Centre Node at Kingsway and Royal Oak Avenue. As Burnaby embraces the 15-minute city concept, this neighborhood is poised for small-scale services and businesses along its main thoroughfares. The plans for Royal Oak place a clear emphasis on non-profit housing, cultural inclusivity, and heritage preservation.
Cascade Heights, primarily composed of single and dual-family homes, is on the verge of its inaugural comprehensive community plan. The city envisions higher-density mid-rise buildings, particularly along Sunset Street, with potential heights of up to six stories. Prioritizing its proximity to Burnaby Hospital, the plans underscore medical offices, daycare spaces, and specialized housing for hospital staff.
Picture source: Canva
Fluid Community Plans and Investment Potential
While these community plans delineate boundaries and pivotal development zones, they remain adaptable. Much like Metrotown’s success story, Burnaby’s trajectory parallels, and industry stakeholders can anticipate noteworthy growth and investment opportunities in these burgeoning neighborhoods.
Investment Prospects in Burnaby’s Emerging Gems
By 2050, Greater Vancouver is projected to welcome a million new residents, with approximately one-tenth of this growth anticipated in Burnaby. With an expected addition of nearly 100,000 residents to its existing population of approximately 250,000, Burnaby presents an enticing investment landscape, particularly in the upcoming areas of Edmonds, Royal Oak, and Cascade Heights. The Metrotown model, from planning to realized residential and commercial projects, underscores the city’s growth potential and signals a similar path for the three upcoming neighborhoods. Ambitious transit developments, such as the Transport 2050 plan and the potential North Shore Connects SkyTrain route, are set to enhance accessibility and appeal in these neighborhoods. Taking inspiration from Metrotown and fortified by robust community plans, incorporating expansive housing, transit enhancements, and commercial initiatives, these three neighborhoods emerge as compelling options for homebuyers and investors alike. As Burnaby solidifies its reputation as one of Canada’s fastest-growing cities, Edmonds, Royal Oak, and Cascade Heights emerge as promising nuclei for development and investment within the region.
“Historically, Burnaby’s densification centered on Brentwood and Metrotown due to their services, amenities, and ambitious mall projects,” said Garde Macdonald, Director of Advisory at MLA Canada. “With housing supply at the forefront for all stakeholders, transit-based density becomes paramount; developers are already crafting new communities ready for growth and future investment.”
An Era of Promise for Burnaby
Metrotown’s transformation isn’t just a chapter of triumph; it’s a blueprint for the future of Royal Oak, Edmonds, and Cascade Heights. As these communities evolve, they grow more attractive to investors and residents. Metrotown’s journey demonstrated the fruitful partnership of growth and community, and these upcoming neighborhoods promise the same dynamic urban evolution.
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In the wake of Summer 2022’s approval of the Bainbridge Urban Village Community Plan by the previous iteration of the Burnaby City Council, exciting redevelopment concepts have emerged for the designated areas covered by the plan.
Taking center stage is the 19-acre Saputo milk plant located at 6800 Lougheed Highway, positioned right next to the Sperling-Burnaby Lake SkyTrain Station. This site, acquired more than five years ago for $209 million by Create Properties and Peterson Group, is now earmarked for redevelopment under the name Burnaby Lake Village — forming the northwest corner of the overarching community plan.
On the eastern side of Burnaby Lake Village and the transit hub, attention is turning towards the 14-acre former Telus site at 7000 Lougheed Highway, which is set to undergo its own transformation as a separate project by Create Properties. Acquired in 2021 for $151 million, this venture has been named Burnaby Lake Heights.
New sub-areas with unique different forms within Bainbridge Urban Village. (City of Burnaby)
With these projects closely aligned with the Bainbridge Urban Village Community Plan, the current planning stage offers few surprises. Both developments combined have the potential to introduce approximately 26 buildings, providing up to 8,300 homes collectively. These redevelopments are expected to unfold over multiple phases spanning around 15 years.
Despite differing ownership structures, both projects, spanning a total of 33 acres, have been designed collaboratively by dys Architecture, Hariri Pontarini Architects, IBI Group, and PFS Studio. The conceptual master plans for both projects will guide forthcoming rezoning applications for their phased revitalizations.
Burnaby Lake Village: Saputo Milk Plant City staff now acknowledge that, upon full completion, the redevelopment of the milk plant site by Create Properties and Peterson Group could potentially introduce up to 4,800 homes catering to various income levels and needs, alongside 1,000 new jobs.
The development envisions up to 14 buildings ranging from 12 to 25 storeys in height, with taller structures strategically positioned nearer to the SkyTrain station. The comprehensive five-phase development would initiate with the northern sections closest to Lougheed Highway and culminate with the southern parcels along Greenwood Street.
Site of the future Burnaby Lake Village (former Saputo dairy plant) at 6800 Lougheed Highway. (City of Burnaby) Building use at Burnaby Lake Village (former Saputo dairy plant) at 6800 Lougheed Highway. (Create Properties/Peterson Group)
Envisioned as a mixed-use, live-work neighborhood, Burnaby Lake Village will offer residential strata units, market and non-market rental housing, live-work spaces, retail outlets, offices, childcare facilities, medical services, grocery stores, and even potential for seniors housing, light manufacturing, and creative industrial uses. An inclusive “community gathering hall” is proposed within a commercial podium named the Esplanade, designed to facilitate optimal access to the SkyTrain station from across the community plan area.
The Gateway Precinct, designed as a commercial and employment hub, will encompass a mix of community services, new housing, and eateries around the Gateway Plaza. This vibrant plaza will serve as a public space for events, markets, festivals, and gatherings, while the Serpentine, a dedicated walking and cycling corridor, will connect the transit hub, Gateway Precinct/Plaza, and the southern parcels of the redevelopment.
Preliminary conceptual artistic rendering of Burnaby Lake Village (former Saputo dairy plant) at 6800 Lougheed Highway. (Create Properties/Peterson Group)
Moreover, a multi-use trail, public spaces, and new landscaping along the Lougheed Highway edge of the development are in the plans. The existing TransLink bus exchange site, situated immediately south of the SkyTrain station, could also undergo independent redevelopment.
Conceptual artistic rendering of the highest densities and heights at Bainbridge Urban Village in the Village Centre around SkyTrain’s Sperling-Burnaby Lake Station. (City of Burnaby)
Burnaby Lake Heights: Telus Site Adjacent to Burnaby Lake Village, the comparatively smaller Burnaby Lake Heights project is set to transform the former Telus site.
Conceptual artistic rendering of the highest densities and heights at Bainbridge Urban Village in the Village Centre around SkyTrain’s Sperling-Burnaby Lake Station. (City of Burnaby) The building uses at Burnaby Lake Heights (former Telus site) at 7000 Lougheed Highway. (City of Burnaby)
The pedestrian-oriented Esplanade and the landscaped Serpentine greenway extend through the site, emphasizing optimal public use and access to the transit hub.
This project envisions up to 3,500 homes catering to various household types and incomes, complemented by numerous jobs in retail, hospitality, and knowledge-based industries. With the potential for up to 12 buildings ranging from eight to 16 storeys in height, the tallest structures would be positioned in the northwest quadrant or core of the Telus site.
Preliminary conceptual artistic rendering of Burnaby Lake Height (former Telus site) at 7000 Lougheed Highway. (Create Properties)
Non-market rental housing, major office spaces, market rental housing, and condominium units are all part of the mix of uses envisioned for Burnaby Lake Heights. A “community club building” is also in the works, aiming to provide a welcoming space for residents and offering childcare facilities, co-working spaces, non-profit offices, meeting rooms, and fitness amenities.
Preliminary conceptual artistic rendering of Burnaby Lake Height (former Telus site) at 7000 Lougheed Highway. (Create Properties)
The overall scope of the project aligns with its sister site, Burnaby Lake Village. The entire project is anticipated to unfold over approximately five phases, generating around 3.2 million sq ft of total floor area, representing a floor area ratio density more than five times the size of the Telus site.
Preliminary conceptual artistic rendering of Burnaby Lake Height (former Telus site) at 7000 Lougheed Highway. (Create Properties)
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