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Plan to create 'new heart in Edmonds' launched
A development "to create a new heart to Edmonds Town Centre" is being proposed for the Value Village property at Kingsway and Edmonds.
Cressey Developments has applied to the City of Burnaby to have the large, triangular property rezoned so it can build a project that contains office, residential and commercial space.
In a letter to the city, Martin Bruckner of IBI/HB Architects said the development will include an "architecturally significant iconic" five-storey office building, three residential towers of 40, 30 and 25 storeys that will contain 817 homes, and streetfront retail store space totaling 214,000 square feet.
"The concept is intended to be a development of significant scale and a variety of uses to create a new heart to Edmonds Town Centre which will be a catalyst for the revitalization of this important neighbourhood in South Burnaby," wrote Bruckner. "The development of the Kingsway and Edmonds Street project represents a unique opportunity to bring new business activities into the ongoing growth of South Burnaby communities."
The proposal includes the tip of the property at the northeast corner of Edmonds and Kingsway, which today includes a pawn shop. It would mean the closing of Britton Street, the little link between Kingsway and Edmonds that separates a small retail area on the corner from the Value Village parking lot. In its place would be a new road at the back end of where the current store sits, on the east side of the property.
A report to city council said the proposed rezoning is in keeping with the Edmonds Town Centre Plan.
The report estimated the total value of the density bonus—money that would be paid by the developer to the city—to be between $15 and $16 million.
"It looks like a good mix for that corner," said Coun. Paul McDonell on Tuesday. "Once those three corners get redeveloped it will move [the area] up a level."
The northwest corner has already been redeveloped. The southeast corner has a Rona home improvement store on it, while the Edmonds Senior Centre, which is owned by the city is on the southwest corner. The centre will be moving to the new Edmonds Community Centre being built at Edmonds and Humphries when it's complete. McDonell said the city hasn't decided what it will do with that corner.
"The building's not in too bad a shape, but we're wondering if there's something we could use it for like immigration services. We're talking blue sky right now," said McDonell.
The city will work with Cressey on putting a suitable plan of development together for a public hearing.
Cressey purchased the Value Village site in the spring.