Metrotown Development Site

Overview

Capitalize on strong demand for condos in Metrotown

This offering represents a rare opportunity to acquire a large-scale high-density multi-family development site in the heart of Burnaby’s rapidly changing Metrotown core. Located directly across Maywood Park and steps away from Metropolis at Metrotown and Skytrain station, this site offers steady holding income during the redevelopment process.

Recent changes to Burnaby’s rental policy have contributed to a significant increase in density for the subject property. Total achievable buildable has increased from 215,622 SF (3.6 FSR) to 368,399 SF (6.15 FSR).

Investment Highlights

• Situated on a quiet street directly across from Maywood Park; the site will benefit from unobstructed views
• Only 5 minutes walking distance to Metropolis at Metrotown and the Skytrain providing easy access to rapid transit and some of the best shopping in British Columbia
• The site is currently improved with two rental apartment buildings totalling 83 suites providing good holding income during the rezoning process
• Designated as RM4s in the Metrotown Downtown Official Community Plan, providing for high-density residential development:
• Site size of 59,895 SF with 284 feet of frontage on Silver Avenue and 211 feet deep
• Build up to 368,399 SF (based on 6.15 FSR)