Transit Oriented Development Site

Overview

Acquire a prominent development site in the Burquitlam-Lougheed neighbourhood of Coquitlam. Totaling 34,109 SF at the strategic junction of Godwin Court, this site is a 15-minute walk from the Braid SkyTrain Station. It includes seven income-generating properties under a single ownership, with the potential to expand by adding an adjacent area of 17,848.6 SF. Nestled where urban conveniences meet natural landscapes, the property is slated for inclusion in Tier 3 of the Transit-Oriented Areas (TOA) as outlined in British Columbia’s Bill 47, promoting transit-centered growth.

Development potential

Currently designated as Neighbourhood Attached Residential, the site is also categorized within Tier 3 of the Transit-Oriented Area (TOA) as per British Columbia’s Bill 47 legislation.

Tier 3 TOA designation applies to areas within a 400 to 800-meter radius from transit stations.

Transit Oriented Development (TOD) areas

The Province has introduced new legislation, Bill 47, focusing on Transit Oriented Development (TOD) areas.

This law establishes mandatory minimum height and density standards for TOD zones near transit hubs, with local governments being responsible for their designation and adherence to relevant guidelines. By the deadline of June 30, 2024, these areas must comply with set minimums for height and density and will not require parking minimums.

Location

The site is located in a rapidly growing part of Southwest Coquitlam between Lougheed Town Centre and historic Maillardville, where major projects by developers such as Mosaic Homes, Ledingham McAllister and Anthem Properties are creating a buzz of new energy. The location provides the best that Coquitlam has to offer: tucked away on a quiet cul-de-sac, but within 5 minutes from the urban amenities of North Road and big box retailers along Lougheed Highway. Multiple schools and parks are located within a 2 km radius.

The property offers convenient access to both Lougheed Highway and Trans-Canada (Highway 1), and is within walking distance of Braid Skytrain Station.

Projects in the immediate area

1. Ciccozzi Architecture – active application: three 6-storey buildings with 307 market rental units applied – 567, 599, 601 Lougheed Hwy, 605, 609, 611 Edgar Ave, 350, 366 Guilby St
2. SOCO 5 by Anthem – active application: one 40-storey tower with 363 market condo units, and one 32-storey tower with 260 market rental units and 26 below-market rental units – 566 Lougheed Hwy
3. SOCO 3 & 4 by Anthem:
   1. SOCO 3 – approved: one mixed-use 39-storey tower with 356 strata units – 321 Alderson Ave
   2. SOCO 4 – active application: one 48-storey tower with 443 market strata units and a 2-storey daycare – 321 Alderson Avenue
4. SOCO 2 by Anthem – approved: one 28-storey tower with 228 market units and one 6-storey apartment with 71 rental units – 520 Young Dr
5. SOCO 1 by Anthem – under construction: mixed-use five residential towers ranging from 23 to 44 storeys with 1,430 market strata units, 40 market rental units, and 49 below market rental units and a six-storey purpose built rental building – 319 North Rd
6. Sienna by Ledingham McAllister – conditional approval: four 6-storey buildings containing 327 residential units – 530-550 Delestre Ave, 316 Loring St, & 527-555 Sunset Ave
7. Sierra by Ledingham McAllister – approved: four 6-storey apartment buildings containing 422 residential units – 540-564 Sunset Ave., 228-280 Dunlop St., 265-285 Euclid Crt., 559-569 Alderson
8. Grayson by Mosaic – conditional approval: four 6-storey apartments with 332 market units total – 574, 576, 578, 600, 610, 616, 618 Sunset Ave, 580, 590, 600, 602, 606 Grayson Ave, 269, 273 Dunlop St & 272, 276 Guilby St
9. Quantum Properties – active application one 6-storey Apartment building containing 161 rental units – 619, 623, 627 Alderson Ave, 626, 628 Grayson Ave & 271 Guilby St
10. Alderson Gate by Ledingham McAllister – approved: 4 mixed use buildings containing a total of 570 residential units – 688 Lougheed Hwy, 632, 633 Grayson, 633 Alderson