Company bets on recovery with Burnaby mega-office complex

As many people continue to work from home amid COVID-19, one company is betting on an economic recovery and a return to offices as vaccines roll out.

Slate Asset Management is now marketing its plans for a 220,000-square-foot complex to be built on Kingsway, just west of Willingdon Avenue, in Burnaby’s Metrotown/Patterson neighbourhood.

When built, the complex – called Capital Point - will be a mix of office and retail space, featuring a double-height lobby with concierge services, private outdoor courtyard, fitness room, flexible meeting rooms and end-of-trip facilities, with units that can be customized to be as small as 400 square feet or feature multiple floors.

The 25,000-square-foot amenity area is planned to include bookable boardrooms, client lounge, conference rooms, and a presentation auditorium with 80-person capacity.

“Physical offices will remain critical in ensuring organizational success in the post-pandemic world because office space is an important part of company’s corporate culture,” said Brandon Graham Donnelly, managing director at Slate Asset Management. “A collaborative office space can foster a sense of inclusion and inspire innovation. When we look ahead to our post-pandemic world, we believe adaptable, flexible, high-quality office space will be in high demand.

“As the economy is expected to rebound in 2021 with the vaccine rollout completed by the fall, the office market is expected to recover,” said Donnelly.

The Toronto-based real estate investment firm chose Metrotown, it said, because of it “feeling confident about its potential and appeal as a hub for investors and businesses.”