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Real estate developers pay to keep Metro Vancouver transit projects on track
on Monday, February 5th, 2018 at 2:17pm.
Developers have anted up to start and complete Metro Vancouver transit plans, which are seen as “crucial” to the local economy – and real estate sales. At the Marine Gateway Canada Line station in Vancouver, developer PCI Group paid $2.5 million for access and safety improvements to the existing Canada Line rapid-transit station before PCI began construction of a mixed-use complex. Cressey Development Group, a residential developer, and Morguard Real Estate Investment Trust, which owns Coquitlam Centre mall, anted up about $20 million for the Lincoln station on the SkyTrain Millennium Line extension into Coquitlam that opened in December 2016.
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