There are 20 development projects with towers over 45 storeys that are selling condo units, under construction or near completion. Read on.
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He added that with increased land and construction costs, developers are motivated to use all the density they can get and build taller towers. However, there is also a point where it stops making sense to push higher “because things like the cost of structural systems increase as you go higher.” After these, there are another 40 more tall-tower projects that have been publicly presented to city councils and are in some stage of seeking approval. Most are in Burnaby and Surrey, followed by Downtown Vancouver and Coquitlam.
Bosa Properties initially proposed a project with two 70-storey towers on Kingsway near the Metrotown SkyTrain Station, but there haven’t been any further details since it was initially presented to Burnaby council in 2021. In December 2022, Bosa sold the site to Keltic Canada Development for more than $100 million.
“The taller buildings in these types of developments that you are going to be seeing tend to be real, mixed-use ones, meaning they have a commercial base with significant office or hotel use where the first 15 to 20 storeys are commercial even before you get to the residential portion,” he said.Article content
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