Metrotown Development Site

6390 Willingdon Avenue, Burnaby

SOLD $33,825,000

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Lot size198' x 198' (39,275 SF)

ZoningRM-5s (Draft Metrotown OCP)

Floor space ratio3.4 plus 1.6 from City (5 FSR total)

Development potential196,375 SF

Price/SF buildable$253 (based on 3.4 FSR)

PID002-936-241

Legal descriptionLot 99 District Lot 151 Group 1 New Westminster District Plan 34364

Sale price$33,825,000

Sale date04/20/2017

Overview

The subject property is a 39,275 SF redevelopment site located in Burnaby’s popular Maywood neighbourhood, only a 5 minute walk to Metrotown Shopping Centre.

Improved with a three-storey 58-suite rental apartment building featuring secure underground parking, bike storage and balconies. The area is well serviced by public transit with both bus and SkyTrain stations nearby.

Under the draft Metrotown OCP, the site has been outlined as RM-5s (high-density residential) which, if approved, provides a base density of 3.4 FSR and a bonus density of 1.6 FSR to be purchased from the City. Therefore, the total density of 5 FSR would equate to 196,375 SF buildable.

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