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 Posté le: Lun Sep 30, 2013 11:30 pm Sujet du message: Developers set to invest $500 million to transform |
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{Developers set to invest $500 million to transform PoCo’s Fremont district into planned community}
Port Coquitlam mayor Greg Moore: "the concept for the new retail is to create a real village out there instead of just big boxes and a sea of parking"By Glen KorstromTue Apr 30,[url=http://www.moncler-sale.org]moncler outlet[/url], 2013 12:01am PSTDevelopers plan to spend more than $500 million to transform a triangular slice of eastern Port Coquitlam into Metro Vancouver’s newest neighbourhood.No residents currently live in the Fremont district,[url=http://www.moncler-sale.org]moncler sale[/url], most of which was part of the agricultural land reserve (ALR) and known as the Dominion Triangle 23 years ago.The area is now primarily grassland with about 350,000 square feet of retail but, by 2018, Fremont is expected to be home to up to 4,[url=http://www.moncler-sale.org]moncler on sale[/url],[url=http://www.moncler-sale.org]moncler down jackets[/url],000 people while also having nearly double the retail square footage and about 300,[url=http://www.moncler-sale.org]moncler sale[/url],000 square feet of industrial space. New cycle paths, parks and other amenities will make recreation more accessible for the community on the western shore of the Pitt River, across from Pitt Meadows.Mosaic Homes is building the first 48 of its planned 650 homes that will be across from a park that borders the river. Sales are scheduled to begin in May for the homes earmarked for occupancy this summer.“We’ll be initiating construction of additional homes within a couple months so that by the end of the year we will have either completed or started construction on 150 of the planned 650 homes,” Mosaic’s spokesman Geoff Duyker said of his company’s $180 million investment.All of Mosaic’s homes will be in multi-family buildings and include about 200 apartments and 450 townhomes that range in price up to $500,000.Onni Group is in the permitting stage of its plans to build up to 650 units in two residential towers at its Fremont Village retail complex.The 350,000-square-foot shopping complex now has big-box tenants such as Canadian Tire and Wal-Mart.The company expects to announce within weeks the name of the grocer it has landed as the anchor tenant for its final 330,[url=http://www.moncler-sale.org]moncler down jackets[/url],000-square-foot retail phase.Onni plans to spend hundreds of millions of dollars to develop that space.“The concept for the new retail is to create a real village out there instead of just big boxes and a sea of parking,[url=http://www.moncler-sale.org]moncler outlet[/url],” Port Coquitlam mayor Greg Moore told Business in Vancouver.Moore pointed to Larco’s Village at Park Royal in West Vancouver as the inspiration for the kind of retail that Port Coquitlam council wanted to see in the Fremont district.“That whole meandering street with lots of bricks and lights and water features and landscaping is what we’re going for,” he said.Another novel aspect of the neighbourhood’s evolution, according to the mayor,[url=http://www.moncler-sale.org]discount moncler jackets[/url], is that it will include industrial land with warehouses designed and built with the understanding that residential homes are nearby.Conwest Group of Companies is scheduled to complete a 50,[url=http://www.moncler-sale.org]moncler on sale[/url],000-square-foot industrial building with six strata units in May. It will then start work on a 22,[url=http://www.moncler-sale.org]discount moncler jackets[/url],000-square-foot industrial building with five strata units.Conwest principal Tony Marinelli said construction on the project will be completed by year’s end.He added that Conwest plans to develop a further 228,000 square feet of industrial strata space on its 26-acre parcel within the next two years.Infrastructure in the area has been improved in recent years with Conwest and Mosaic teaming up to build the new Fremont Connector between Dominion Avenue and Lougheed Highway.Moore said the City of Port Coquitlam also spent about $12.1 million to upgrade Dominion Avenue about six years ago.“The city really didn’t need to give financial incentives to encourage the development in the area.“We encouraged the development by being open-minded about approvals and having a unique urban planning formula.”Tags: Onni Group, Wal-Mart Stores, Inc., real estate, retail
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