Developer Polygon Homes, Telus in court over Burnaby project [Toronto Globe and Mail (Ontario, Canada)]
Telus Corporation Ordinary Shares (TU)
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Source: Toronto Globe and Mail
Developer Polygon Homes, Telus in court over Burnaby project In September, 217, Vancouver-based developer Polygon Homes Ltd. inked a $175.5-million deal for a 14-acre property in Burnaby with Telus Communications Inc., the site marketed as transit-oriented in a “booming” area nestled between two town centre malls along a coveted commuter-friendly SkyTrain route. The land at 7 Lougheed Highway, owned through an entity on behalf of the Telus pension plan, once housed a company operations building that has since been demolished. The plot is now sitting empty, with browning overgrowth snaking up through the cracked, worn concrete under the shadow of the Millennium Line SkyTrain tracks. The neighbouring property is the site of a Saputo Dairy facility still bustling with trucks, though it is now a temporary renter on the land after selling for $29-million to a developer last year. With development plans in the works, Polygon still had to wait on Telus and the City of Burnaby for a “detailed
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