An application has been made by SVM Developments to rezone a 23,923 SF site at 6989-7029 Royal Oak Avenue in Burnaby from R5 to CD to allow a 3-storey, 23-unit stacked townhouse development with underground parking.
Royal Oak is an emerging area with predominantly ground oriented townhouse and 4-storey development. Prices are rising due to its walkable location to Metrotown and relative affordability compared to highrises closer in to the core.
A portion of the site at 7029 Royal Oak Avenue was purchased from the City of Burnaby in November 2013 for $112 per SF of land.
Further details include:
- a density of 0.9 FAR
- Total floor area of 20,684 SF
- 23 Two-bedroom townhouse units
- 41 underground parking stalls
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