In addition to the 21-story, 142 unit project Bosa is working on in Bellevue, the Burnaby, BC based developer now has sight on the stalled Civic Square Tower project occupying a full block just west of City Hall on 4th & Cherry.
For the past 9+ years, the city has been trying to get the project off the ground, but due to the recession, as well as an unforeseen political scandal, they have not had any luck.
Under the proposed agreement, Bosa will pay the city $16M for the property and contribute another $5.7M to the city’s affordable housing fund. Bosa will also pay the former developer for all development rights and will be required to integrate a public plaza in the project design.
Bosa most recently developed the new Insignia condominium towers in Belltown on a mega-block between Bell/Battery St & 5th/6th Ave. Only 12 of the near 700 homes remain on the market.
This partially excavated lot has been an eyesore for the downtown community for far too long – more details to come!
