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Burnaby's Brentwood Town Centre is in the midst of a major transformation that will eventually produce 1.1 million square feet of retail space, a multitude of contemporary offices, a one-acre public plaza, and over 6,000 homes across 11 highrise towers on rebranded grounds dubbed The Amazing Brentwood. To see this ambitious endeavour through to completion, landlord and developer SHAPE Properties and co-owner Healthcare of Ontario Pension Plan have partnered with L Catterton Group, a private equity firm linked with French luxury brand LVMH (Louis Vuitton Moët Hennessy) and Groupe Arnault.
The announcement finalizes The Amazing Brentwood as L Catterton's second North American development, after the venture capital firm invested in the Miami Design District. The world's largest consumer-focused private equity fund — with more than US $14 billion in capital — also has a strong presence in the luxury commercial market in Asia.
The development's massive commercial component will be subdivided into four distinct retail areas spanning both indoor and outdoor spaces. 'Brentwood Interior' and 'Brentwood Boulevard' will feature over 120 retailers between them, covering more than 600,000 square feet of space with luxury brands and restaurants. 'The Plaza' and 'The West Mews and Grand Lobby' are decidedly smaller in scope, allowing for a more fine-grain retail experience augmented with exterior landscaping and a water feature.
A swath of cranes and construction equipment currently defines the site, as work on building the first phase of the development continues to charge forward. Two residential towers, new fashion anchor stores, a satiating supply of restaurants, and Cineplex VIP and Rec Room spaces set the tone for what is to come. The first phase is expected to open in the spring of 2019.
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