Wednesday, January 27, 2010

Big Time TOD in New Westminster

If you take the SkyTrain, you will have noticed over the past year or so that there is a massive development being integrated with the New Westminster SkyTrain station. The residential component is called "Azure at Plaza88" and consists of three high-rise residential towers. But beyond the tower, according to the New Westminster News Leader, there will be 200,000 square feet of commercial development. That's about the size of a Wal-Mart Supercentre.
Retailers that have recently secured long term leases include Safeway, Shoppers Drug Mart, the Royal Bank of Canada and CIBC.

In the press release issued Wednesday, the newest tenant, Landmark Cinemas of Canada, says it will build a state-of-the-art, 35,000 square foot, 10-screen multiplex cinema in Plaza 88.

The $350 million transit-linked retail-residential centre was developed by Plaza 88 Developments. Located at Eighth and Columbia streets, across from the New Westminster Quay, the master plan includes three residential towers with 600 condominium units. The developers are building out the 200,000 square feet of retail space, which is slated to open in 2011.

“This development is the way of the future with nothing like this in North America, where elevated rapid transit is fully integrated with major shopping and a large residential complex,” said Ken Hardie, spokesperson for TransLink.
If you are living in this development, you might not even need to step outside. Very exciting and scary.

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