Translink Purchased a 27-acre Site on North Road to Build a Operation and Maintenance Centre

Translink Purchased a 27-acre Site on North Road to Build a Operation and Maintenance Centre

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March 17, 2021

Translink’s 225 North Road transaction topped the 2020 largest industrial, commercial and investment real estate deals. The site was sold by Alco Investment Company for a total of $82,500,000. At the time of the deal no information were released regarding what the land will be used for.

Translink plans to transform the 27-acre site into a Skytrain Operations and Maintenance Centre (OMC) larger than the one existing one near Edmonds. With the amount of Skytrains routes planned for the nearby future, Translink will need additional capacity to service its trains.

Prior to the sale, the site was a constructed as a warehouse and Sea To Sky Drilling, Alaskan Copper, and Doka Canada were occupying the land. The site is ideal for OMC because it is located Northwest of Braid station. Building additional connector to it will have no obstruction in between.

It will cost $300 million dollars to build this facility and the federal will very likely provide support for it. The Coquitlam OMC is necessary to support the first stage of the Surrey-Langley Skytrain Expo Line extension. Another OMC is planned in Surrey or Langley for the second stage of Surrey-Langley Skytrain.

The Coquitlam OMC is expected to 4-6 years to complete serving 205 new and additional replacement Skytrain cars including the new generation of longer trains. Edmonds OMC will also receive an upgrade costing upwards of $110 million for a new control centre building and facilities to service the longer train.

Translink has received $1.47 billion from the federal and provincial government to cover the cost replacing new and old trains as well as Edmonds OMC upgrade. They are in the process of acquiring another $1.5 billion funding for Skytrain extension and Fraser OMC. Transport are key infrastructure that sustains economic growth, they should receive the funding without any problem. The massive expansion in public transit system and housing reflects what we should expect in terms of growth for British Columbia.

Yoyoe Lu

Founder and managing principal
yoyoe@claridgeadvisors.com

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

Development Site and Investment Specialist
ashley@claridgeadvisors.com

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.

Patricia Wong Chong

Investment and Leasing Specialist
patricia@claridgeadvisors.com

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

Land Assembly & Residential Specialist
schumann@claridgeadvisors.com

Schumann is a top-producing realtor in the Lower Mainland with more than 30 years’ experience. Over the years, Schumann hasn’t just garnered awards, but the trust of countless customers. Her clients continually refer to her outstanding professionalism, work ethic and poise.

Wendy Kaip

Sales Associate
wendy@claridgeadvisors.com

Whether it’s decoding city policies, strategizing relocation plans, home sellers looking for a trustworthy advisor to unlock their property’s maximum potential- Wendy is here to help every step along the way.

Prior to real estate, Wendy spent over a decade in the mining industry with her attention to detail, keen negotiation skills, extensive network and strong reputation for getting the deal done, bringing endless value to her current real estate clients.

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

Managing Broker
simon@claridgeadvisors.com

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.

Frank Zhou

Analyst
frank@claridgeadvisors.com

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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