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Metrotown High-Density Site

6675 & 6691 Dow Street, Burnaby

High-Density Mixed-Use Development Site
Site size 35,580 SF

Unpriced Bid Process

Overview

  • The subject property is designated as RM5s/C2 in the Metrotown Downtown Official Community Plan, providing for high-density mixed-use development
  • Site totals 35,580 SF with ~150 feet of frontage on Dow Ave and ~240 feet depth (6 metre lane dedication required)
  • Total development potential of 5.0 FSR of residential density and 1.3 FSR of commercial density, for a total of 6.3 FSR or 224,154 SF of potential buildable based on gross site size
  • Note: of the 5.0 FSR in residential density, 3.4 FSR is base density and the additional 1.6 FR bonus density must be purchased from the City of Burnaby
  • Note 2: the additional commercial density of 1.3 FSR depends on the assembly with the corner site on Beresford—if not applicable, the total density would revert to 5.0 FSR (177,900 SF buildable)
  • The two lots are currently improved with two rental apartment buildings providing good holding income during the rezoning process: 6675 Dow (23 units) and 6691 Dow (15 units)
  • 6691 Dow is listed with NAI Commercial

The property sale is subject to a bid process with no formal asking price. Offer submission deadline is April 12, 2018.

Location

The subject property is located on the west side of Dow Avenue in Metrotown, Burnaby, one half block to the Metropolis shopping mall. Convenient access to shopping, Skytrain, bus service and amenities.

Summary

PriceUnpriced bid process
Lot Size~150' x 240' (35,580 SF)
ZoningDesignated RM5s/C2 zoning
Floor Space Ratio6.3 FSR (3.4 base + 1.6 bonus + 1.3 commercial)
Development Potentialup to 224,154 SF
PID003-194-906; 004-718-411

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