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Anthem and King Sett Acquire 8.34 Acre Multipurpose Site in Brentwood, Canadian Business Journal

Vancouver, British Columbia, March 21, 2022 (GLOBE NEWSWIRE) — Anthem Properties Group Ltd., along with King Sett Capital on behalf of Growth LP 7 and Residential Development Funds, will be on Dawson Street in the active Brentwood Town Center on Willindon Avenue and Burnaby. Metro Vancouver One of the fastest growing public transport oriented nodes.

The site, which is currently occupied by vacant commercial and industrial buildings and ground parking, will be redeveloped into a mixed-use master plan community in line with Burnaby’s official community plan. Rezoning of the property-wide master plan is nearing final approval, with Phase 1 sales expected to begin in late 2022.

Anthem and King Sett plan to develop this site into a four-tiered master plan community. The community includes 60,000 square feet of new retail and office space spanning 2,100 market condominiums, 340 rental units, five residential towers and two wooden mid-rise affordable rental buildings. .. The site is considered a major green node with a phase built around a one-acre park, as a town center destination, and a major link between the Brentwood Town Center Skytrain Station and the Urban Trail. Acts as a link between the east and the future.To Woodlands Park and South BCIT

“We are excited to build on Anthem’s long history of developing large-scale multipurpose projects in Burnaby with this acquisition. In areas with growing populations and limited supply, this project is We will create a large housing supply aimed at meeting the needs of the market at multiple levels, “said Eric Carlson, CEO of Anthem.

This will be Anthem’s second development within the Brentwood Town Center project after the completion of the three-tower multipurpose community Tandem in 2007. More recently, elsewhere in Burnaby, Anthem has successfully sold out and built five residential towers in Station Square in Metrotown. This includes over 1,800 homes and 450,000 square feet retail stores, as well as Standard and NUVO pre-sales programs. , Also in Metrotown.

About Anthem:

Founded in 1991, Anthem is a team of 450 people driven by creativity, passion and direct communication. Anthem has invested, developed, or managed more than 310 residential, commercial, and retail projects across western North America.

Their growing housing portfolio includes a complete 17,500 homes under design or construction, from mixed-use and condominiums in the Master Plan to town homes and single-family communities.

Anthem owns, shares, manages, or previously owns more than 8.5 million square feet of retail, industrial, residential rental and office space throughout western North America. They have developed more than 60 communities on 7,400 acres of land in Alberta, British Columbia, and California.

Anthem is a real estate development, investment and management company that strives, solves, evolves and creates better spaces and stronger communities.

About KingSett Capital:

KingSett is Canada’s leading private equity real estate investment company. Founded in 2002, KingSett has raised $ 13.4 billion in shares for growth, income, cities, mortgages, affordable housing and home development strategies. KingSett has a $ 19 billion portfolio and $ 17 billion in assets under management. KingSett continues to explore additional opportunities to invest in a wide range of real estate properties, developments, joint ventures and mortgages.

contact address:

Jenna Anderson
Communication manager
Anthem Property Group Co., Ltd.
phone: 604 689 3040
Email: janderson@anthemproperties.com

Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/98fd1da0-9c48-4fea-8d43-9debab51380b.


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Anthem and King Sett Acquire 8.34 Acre Multipurpose Site in Brentwood, Canadian Business Journal

Source link Anthem and King Sett Acquire 8.34 Acre Multipurpose Site in Brentwood, Canadian Business Journal

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