City of Burnaby spends $26.6 Million to buy Fortius Sport Facility for public recreational use

City of Burnaby spends $26.6 Million to buy Fortius Sport Facility for public recreational use

  • Burnaby
  • Community
December 14, 2020

The City of Burnaby secured a deal to purchase Fortius Sport Facility who announced permanent closure due to financial pressures due to the pandemic. Fortius Foundation had been struggling to stay afloat even before the pandemic struck and the pandemic made it unviable.

The facility is a 146,000 sqft building located on 3713 Kensington Avenue, a famous local destination for over seven years. Opened in 2013, the equipment within the facility is still new featuring a double gymnasium, fitness centre, office space and professional-level athletic training facility. Having the City of Burnaby take over the existing facility is great news for the locals.

Mayor Mike Hurley said the facility made “a positive impact” on the community, including for competitive athletes and for others who were just “seeking to live full, active and healthy lives.”

“The City of Burnaby looks forward to using these facilities in a way that continues to support a healthy and dynamic community,” Hurley said.

The purchase enhances future recreational program because the Fortius Sport Facility is located alongside city’s sport field, ice arenas and swimming pool at Burnaby Lake. This could be the largest community recreational site in the City with ample of parking space. It is suited for professional team training and learning programs. Being alongside Burnaby Lake, the weekend walk can be more dynamic.

  • Sale price: $26.6 million dollars
  • City of Burnaby will reimburse forties the balance of pre-paid lease on adjacent sports fields
  • Sale’s closing date is set for February 1st, 2021.

Not only does the purchase allows the City of Burnaby to enhance its facility program, but it also opens new opportunity to plan future development. The city is redrawing its plans to replace C.G Memorial Brown Pool and Burnaby Lake Arena with a new Burnaby Lake Sport Complex across the street from Fortius. As a result the purchase will save taxpayers money from reduced space and parking requirement from the Fortius site. This is a win situation for both the City of Burnaby and Burnaby Resident.

Yoyoe Lu

Founder and managing principal
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Yoyoe is the founder and managing principal of Claridge. She was ranked one of Vancouver’s top real estate agents. Currently, Yoyoe is our strategic mind leading the team to success. Her affiliation with industry professionals put her ahead of our competitors. Yoyoe is also part of the Rotary Club of West Vancouver, Canadian Homebuilders Association, Urban Land Institute and Urban Development Institute.

Ashley Osborn

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Ashely is our lead land and investment advisor. He has been consistently featured in the annual top 100 real estate deals of British Columbia ranking. With over $15 billion worth of domestic and international real estate investments under his belt, Ashley is one of the top agents in the province. His 20 years of real estate and financial experience make him a master in negotiation and acquisition.

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Patricia is our investment and retail leasing advisor. Her experience in brokerage and market research analysis has helped her comprise over $550 million in commercial real estate transactions. Patricia is responsible, detail-oriented, and professional. Her strong work ethic and positive attitude have led her to surpass all her competitors.

Schumann Li

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Whether you are thinking about selling to a developer, or have more questions about commercial real estate, Wendy invites you to connect, to see how she can utilize her expertise and team to help create value and maximize your real estate goals.

Simon Chan

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Simon is the managing broker of Claridge Real Estate Advisors Inc. His expertise has helped our agents resolve many difficulties. Not only is Simon knowledgeable with real estate legislation, but he is also very detail orientated. With Simon on our team, our agents are confident to conduct businesses and will always get the support they need to ensure they’re not walking on dirty water.

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As the analyst of the company, my key job is to help brokers to find marketable clients and locate feasible development sites by collecting and analyzing up-to-date market transaction data and conducting target market and property-level research. Meanwhile, I am also in charge of maintaining the company’s property database to ensure accuracy and comprehensiveness and continuously upgrading the level of knowledge by staying up to date with hot topics, and market trends, and incorporating findings into everyday work. Before joining the company, I worked for CR Group as a real estate investment manager, focusing on capital raising, equity and debt financing, acquisition and renovation. I hold 2 master’s degrees, one in Housing Management and the other in Economics.

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