- What A partially built mixed-use development is for sale in Burnaby
- Why Developer I4 Property Group is in receivership
- What next The building is listed at $16m
A partially built mixed-use development in Metro Vancouver has hit the market as part of a court-ordered sale for $16m.
The project, at 4451 Hastings Street, in Burnaby, is owned by I4 Property Group and dubbed Siena at the Heights.
Goodman Commercial has the marketing assignment on behalf of the receiver, Deloitte.
The construction of a five-storey building consisting of six commercial spaces and 38 residential units is already underway on the lot. The building takes up nearly 53,000 gross sq ft of space.
Permits are in place and municipal fees have been paid, according to marketing materials. Twenty-eight of the 38 residential units have pre-sale contracts in place.
The project features 15 one-bedroom and 23 two-bedroom units comprising 37,000 sq ft of saleable area while the six commercial units combined for about 8,400 sq ft.
Siena at the Heights is in a vibrant part of the Burnaby Heights area with abundant small businesses catering to shopping and dining.
The neighbourhood is 8 km east of Downtown Vancouver.
