Lougheed Landmark Development Application Submitted

On April 25, 2025, we submitted the Lougheed Landmark development application to the City of Coquitlam. Rather than proceeding through the traditional three-step process—OCP amendment, rezoning, and development permit —we opted for a consolidated development application. This streamlined “3-in-1” approach included all required reports and has significantly shortened the project timeline. The City has acknowledged receipt of our application and assigned a File Manager. The next step is a consultation with the Engineering Department.

Project Overview
The proposal includes a total of 290 rental units, of which:
• 18 affordable housing units are located on Level 6,
• 2 additional affordable units are on Level 7, integrated with market rental units (with a secure access door to ensure tenant separation), and
• 10 live-work units are designated on Level 8.

The daycare facility has been revised to accommodate 74 children, with three commercial retail units (CRUs) reserved for learning centres.

Market Context
Demand for rental housing in Metro Vancouver remains strong. At the April 2025 Vancouver Real Estate Forum, more than 1,400 industry leaders gathered to examine market trends. Despite recent declines in condo sales, the rental market continues to face supply constraints, driving rents upward.

BC is projected to experience significant population growth—estimated at 700,000 to 1,000,000 new residents over the next 17 years. This will require 500,000 to 600,000 new housing units, roughly equivalent to adding the entire population of the City of Surrey.

A Unique Offering
Most developments near the Lougheed SkyTrain Station are condominiums with no commercial or childcare components. In contrast, Lougheed Landmark is purpose-built for rental, offering a mix of residential, commercial, and community-focused amenities. The project includes five levels of commercial space and a daycare facility on the ground floor, contributing to a sustainable, mixed-use community.

Outlook
While housing prices have seen modest corrections, a recent Desjardins report forecasts that affordability is unlikely to improve over the next two years—further fueling demand for rental accommodation. Given these trends, Lougheed Landmark is strategically positioned to attract both residential and commercial tenants.

Sources:
• Western Investor: Vancouver’s Real Estate Future
• Desjardins Report: Housing Affordability Outlook