Koen (Condos).

Overview

Koen (Condos) is a 111-home wood-frame development at 7118 Macpherson Avenue, Burnaby, BC V5J 4N3, in the South Slope. Homes run 564 to 999 sq. ft. Blended pricing is around $1,071 per sq. ft. Estimated completion is Fall 2028.

Location

Burnaby’s South Slope runs down toward the Fraser between Metrotown and Edmonds, along Marine Drive and Imperial Street. Edmonds Station on the Expo Line and Metrotown are both close without the density of either, and Byrne Creek Ravine Park provides the green space.

The homes

• 111 homes, wood-frame construction
• 564 – 999 sq. ft.
• Blended pricing around $1,071 per sq. ft.
• At that blended rate, roughly $604,000 for the smallest plan and $1,070,000 for the largest
• 15% deposit
• Estimated completion Fall 2028
• Status: Now Selling

How the pricing compares

Measured against 5 other Burnaby wood-frame projects in my database, the median blended price is $1,080 per sq. ft. Koen (Condos) at $1,071 is within a few percent of it, effectively at market. That makes this a decision about the specific home rather than about the price level: orientation, floor, plan efficiency and outlook are what will differentiate your outcome here.

Direct comparables

Priced under it: The Idyllic at $1,040, Moonlight Sonata at $1,050 per sq. ft. Priced over it: Siena at $1,080, Alto on Capitol Hill at $1,090, Element 2 at $1,090 per sq. ft. Those are the projects worth putting side by side with this one.

What I would check before you sign

1. The length of the commitment. A completion this far out means you are agreeing today to a mortgage you will not qualify for until roughly the end of the decade, under lending rules that do not exist yet. You qualify at completion, not at signing.
2. The deposit schedule: 15% total, but the staging is what hits your cash flow.
3. Whether you can assign, and at what cost. Assume the CRA sees it: CSAIR reporting covers this now.
4. Which homes are still available, and ask directly why those ones are.
5. The projected strata budget, which is usually optimistic at launch.

I will read the disclosure statement with you before your deposit deadline if that is useful. It is the step most buyers skip and the one that costs money. Reach out for floor plans and current availability at Koen (Condos).

Find it on the map.

7118 Macpherson Avenue, Burnaby, BC V5J 4N3