Beta Development (retail and condo)
Metro Vancouver, Burnaby Heights District
In March 2012, ACIC provided $2.5 million in financing for the purchase of the property on which this development was built. It is an example of the multi-use projects that are proving highly popular and profitable in Metro Vancouver; with retail on the ground-level, offices one floor up, and eight luxury homes on the upper floors. The project is located along Hastings Street, a vibrant artery running into downtown Vancouver. The Burnaby Heights area has experienced significant real estate price appreciation. The Beta development was completed in 2015 and all residential units have been sold. Separately arranged construction financing has been fully paid out, and ACIC currently maintains a $2 million loan secured by the commercial space.