Burnaby, B.C.’s The Amazing Brentwood, among the largest mixed-use projects underway in North America, has a new strategic development partner.
Shape Properties and co-owner Healthcare of Ontario Pension Plan (HOOPP) have brought on L Catterton Real Estate (LCRE), the real estate investment and development arm of L Catterton, the world’s largest consumer-focused private equity platform. LCRE funds are sponsored by LVMH, a global leader in luxury products with a portfolio of more than 70 brands, and its Groupe Arnault holding company.
“Shape was introduced to LCRE through discussions between the Shape leasing team and brands in LVMH’s portfolio about The Amazing Brentwood,” said Shape executive vice-president of development Darren Kwiatkowski. “As LVMH learned more, they recognized a potential fit for LCRE.”
The Amazing Brentwood’s different uses
The 28-acre The Amazing Brentwood site will include: more than 6,000 homes in 11 high-rise towers; more than 250 shops, restaurants and services in 1.1 million square feet of retail-oriented space; 600,000 square feet of office and commercial space; and a one-acre plaza that will host festivals, concerts, markets and seasonal events.
Construction began on The Amazing Brentwood in 2014. The first phase — which includes two residential towers, the plaza and a range of new shops, restaurants and services — will open in the spring of 2019. Additional development will roll out in phases during the coming years.
“LCRE brings international prestige, a wealth of knowledge and experience launching world-class shopping destinations, including Miami Design District and Tokyo’s Ginza Six,” said Kwiatkowski. “Their involvement gives credibility to the project globally and will add to our ability to attract visitors from around the world.”
Cineplex will open The Rec Room — which combines dining, live entertainment and amusement gaming in a 44,000-square-foot location — as well as a VIP Cinemas location at The Amazing Brentwood. The movie theatre will occupy the signature building that will float above the plaza. More retail announcements will follow.
“There will be shops ranging from international luxury brands to fast fashion and local boutiques,” said Kwiatkowski. “The culinary collection will feature chef-driven fine dining, but also the best of casual eateries and popular grab-and-go.
“There will be fitness studios, grocery stores, professional services and everything else you need in one location — all within walking distance and connected to rapid transit.”
The Amazing Brentwood’s central location
The Amazing Brentwood is located at 4567 Lougheed Highway, about a 20-minute drive from downtown Vancouver. It will be directly connected to the Brentwood SkyTrain station and is in close proximity to the Trans-Canada Highway. There will be more than 4,700 parking stalls.
The existing Brentwood Town Centre mall will remain open throughout the initial phases of redevelopment.
“As a part of future phases, it will be fully renovated, re-imagined and integrated into the rest of The Amazing Brentwood,” said Kwiatkowski.
The first three residential towers, which include approximately 1,400 condominium suites, have sold out. Residents will have access to a business centre, fitness studios, a music room, a games room, a children’s play area, outdoor social lounges, guest suites, valet and concierge services.
No office tenants announced yet
No tenants for the office space have been announced, but Kwiatkowski promised The Amazing Brentwood will offer flexible workspaces to accommodate office campuses and large footprint corporate headquarters.
“As well as aiming to be LEED-certified and targeting BOMA BEST Gold certification, The Amazing Brentwood is built on an inherently sustainable model which incorporates high density, a mix of uses, transit-oriented design and support for alternative modes of transportation like bike and car-sharing,” said Kwiatkowski.
“This enables a walkable urban lifestyle which makes owning a car an option, not a necessity. This is a framework for sustainable growth and a model for the future of urban development.”
Shape — a Vancouver-based real estate investment, development and management company — specializes in master-planned communities that feature shopping, dining, living and entertainment on one connected site. It’s also behind The City of Lougheed, a 40-acre master-planned community in Burnaby, as well as Destination: Deerfoot City in Calgary.
HOOPP holds more than $70 billion in real estate and other assets around the world for its 321,000 members across Ontario. The plan’s real estate portfolio includes properties across Canada, the United States and Europe.