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Grosvenor closes JV partnership for C$1.5b mixed-use residential project in metro Vancouver
Transactions - OCTOBER 10, 2024

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Grosvenor closes JV partnership for C$1.5b mixed-use residential project in metro Vancouver

by Released

Grosvenor announced it has established a joint venture for phase one of its master-planned development in Metro Vancouver called Brentwood Block. Grosvenor is partnering with a Canadian pension fund and Westerkirk Capital Inc., a British Columbia–based family office, for the C$1.5 billion first phase of the 7.9-acre masterplan in Burnaby’s rapidly evolving Brentwood neighborhood.

The first phase of Brentwood Block will deliver 1,730 much-needed new homes (including 1,279 rental units, 204 of which will be below-market rate), a new multi-story community center and 200,000 square feet of commercial space. The fully entitled development is located in one of metro Vancouver’s fastest-growing neighborhoods, one block from the Brentwood SkyTrain station. Condominium pre-sales started September 2024. Construction will begin in early 2025, and completion is anticipated in 2030.

“We are thrilled to be embarking on this meaningful project with our partners,” said Steve

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