Final plans have been approved for a project called The Burquitlam Capital, located on a triangular site at 509-513 Clarke Road in the Burquitlam area of Coquitlam. The project, by Magusta Development has received rezoning approval from CS-1 to C-7 Transit Village Commercial. Plans call for the development of a 23-storey tower including:

• 189 units
• 20 studios, 60 one-bedrooms, 68 two-bedrooms and 41 three-bedrooms
• four townhouse units fronting Smith Avenue
• 10,968 SF of commercial retail space along Clarke Road
• total density of 4.5 FAR (max under C-7 zone)

The site is located about half a block from a soon to be completed Burquitlam Evergreen Line Station.

Magusta acquired the land in July 2014 for $7,128,000, or about $42 per buildable SF.

Here is a promotional video for the project: