Burnaby is hot for condo construction
Burnaby is fast becoming the hottest place for condo construction in Metro Vancouver. A report from the Urban Development Institute shows that the municipality is benefitting from planning decisions that mean new developments in close proximity to transit stations. High density is allowing for a level of construction that is pushing Burnaby close to that of Vancouver itself; 14,548 units planned in Burnaby against 14,766 in the City of Vancouver. Burnaby beat Vancouver to the end of the third quarter of 2014 with 1,613 presales of condos against 1,394 and prices are around $100 per square foot lower.