Metrotown Development Site

Overview

Valuable 220’ frontage affording potential for two-building development

This offering represents the potential to develop a large-scale two-building multi-family development. Located in the heart of Burnaby’s transit-orientated Metrotown neighbourhood, the property is situated directly across from Metropolis at Metrotown and the 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 – up to 298,699 SF (based on 6.15 FSR).

Investment Highlights

• Designated as RM-4s in the Metrotown Downtown Official Community Plan, providing for high-density residential development
• Site size of 48,569 SF with 219.8’ frontage on Telford Ave and 221.5’ depth
• Build up to 298,699 SF feet (based on 6.15 FSR)
• Situated on the west side of Telford Ave, in between a recently approved high-rise development to the south and Intracorp’s Telford on the Walk project currently under construction to the north
• 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 a rental apartment building containing 54 units providing good holding income during the rezoning process

Density Summary