A smart purchase at a good price!
Managing Director | Development and Construction | Mass Timber Leadership | Recovering-COO | ESG | IG: @yvr_rocky
It's nice to see our governments making smart, strategic moves, and not simply burning through our tax dollars while taking on unreasonable debt to fund vanity projects. Great purchase by the City of Burnaby on these towers in Metrotown. In addition to buying this well below assessed value, and replacement value (~$185/sf), this is a strategic acquisition to allow them temporary space for when the current City Hall is rebuilt. It also adds to their holdings on this block, forming a contiguous development parcel for the future. I believe this will be a huge win for the city and its residents, long term. #officespace #burnaby #canadianrealestate #construction #vanre #vancouverrealestate #investment