BURNABY, British Columbia, June 01, 2026 (GLOBE NEWSWIRE) — Crestpoint Real Estate Investments and Anthem Properties were joined by the Mayor of Burnaby and other guests today, to celebrate the ceremonial groundbreaking for King + Park, a landmark mixed-use masterplan that will reshape the gateway to Burnaby and deliver one of Metro Vancouver’s most ambitious residential and commercial communities. The milestone marks the official start of construction on Phase 1 of the multi-phased development, that when fully built, will weave together residential, commercial and the retained office uses to create a vibrant, mixed-use community.
Situated in a prime, central location with access to the SkyTrain, Metrotown and the natural beauty of Central Park, King + Park Phase 1 addresses the Lower Mainland’s urgent need for quality rental housing in a transit-oriented setting, with 724 rental homes now under construction with a completion date of in summer of 2030.
“We’re thrilled to see this project moving forward — adding much-needed rental housing in transit-oriented locations, as well as restoring essential office space to ensure jobs and services remain close to where people live,” said Burnaby Mayor Mike Hurley. “We’re especially encouraged to see a mix of homes, including future non-market units, that will help ensure more people can find stable, affordable housing in our city.”
The masterplan includes a comprehensive restoration of the 512,350 sq ft landmark office tower, known colloquially as “The Boot” by Burnaby residents. In recognition of this beloved name, Crestpoint announced today that it is officially naming the office tower The Boot at King + Park. Turning 50 this year, the vision is to revitalize The Boot to once again be one of the most iconic office towers in British Columbia.
“Crestpoint and Vestcor first made an investment in this property in 2014. Since then, we have steadily increased our commitment to Burnaby and to realizing the full potential of this site,” said Crestpoint Real Estate Investments Executive Vice President and Head of Asset Management, Max Rosenfeld. “It is a distinct opportunity to honour heritage and reimagine a site simultaneously. We are thrilled to be partnering with Vestcor and Anthem on the execution of a vision for King + Park that will have a positive, lasting impact.”
The full King + Park masterplan includes:
- Phase 1: 724 rental homes in two towers over a shared podium — now under construction
- Restoration of the iconic Boot Office Tower is starting
- 512,350 sq ft of retained and restored office space (the Boot)
- 43,402 sq ft of commercial space delivered across all phases
- Future Phase: 1,559 strata homes and 252 non-market rental units
“At Anthem, we talk about Creating Real Estate That Works, and we mean that in the fullest sense,” said Anthem Properties’ Executive Vice President, Development, Rob Blackwell. “Not only providing financial value for our partners and investors, but also community value. Neighbourhood value. Developments that have a sense of place. Long-term value for the people who will actually live and work there. Together, the phases of King + Park will deliver a complete neighbourhood, one that honours the site’s history while meeting the needs of a growing, dynamic city.”
ABOUT CRESTPOINT
Crestpoint Real Estate Investments Ltd. is a commercial real estate investment manager dedicated to providing investors with direct access to a diversified portfolio of commercial real estate assets. Crestpoint is part of the Connor, Clark & Lunn Financial Group, a multi-boutique asset management company that provides investment management products and services to institutional and high net-worth clients. With offices across Canada and in Chicago, London and Gurugram, India, Connor, Clark & Lunn Financial Group and its affiliates are collectively responsible for the management of over $188 billion in assets. For more information, please visit: www.crestpoint.ca.
ABOUT VESCOR
Vestcor is an organization made up of more than 175 New Brunswick-based service professionals who provide innovative, cost-effective investment management and pension and employee benefits administration service solutions that meet the requirements of over 117,000 pension plan members, 46,000 benefit program members and over 100 participating employer groups. More at www.vestcor.org
ABOUT ANTHEM PROPERTIES
Founded in 1991, Anthem is a real estate development, investment and management company of 850+ people driven by creativity, passion, and direct communication. Anthem has invested in, developed or managed – alone or in partnership – more than 400 residential and commercial projects across North America. Our growing residential portfolio includes 44,000 homes that are complete, in design or under construction, from mixed-use residential to townhome, rental and single-family homes. We own, co-own, manage or have previously owned 12 million square feet of retail, industrial and office space, and our land portfolio includes more than 60 communities, spanning 9,100 acres across Canada and the United States. We are Growing Places. www.anthemproperties.com
MEDIA CONTACTS
Lindsay Stiles
Chief Operating Officer
Crestpoint Real Estate Investments Ltd.
Email: lstiles@cclgroup.com
Elisha McCallum
Vice President, Communications, Anthem Properties
emccallum@anthemproperties.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bd079c17-efcd-4328-8eee-8c008e2422f0