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Development

22-Unit Building Planned Near Cambie & King Edward

Pennyfarthing Homes has submitted a rezoning application for a single family lot on the East side of Cambie Street, just South of West King Edward Avenue at 4138 Cambie Street. The plan for the 11,095 SF site is for a 6-storey concrete condo building, including:

  • 22 units including 2 townhouses on the lane
  • 1 studio unit, 15 two bedroom units & 6 three-bedroom units
  • a total density of 2.33 FSR
  • a building height of 67 feet
  • 25 underground parking spaces on one level

4138-cambie4138-cambie_14138-cambie_2

The rezoning is being done under the Cambie Corridor Plan.

Pennyfarthing is enjoying success on projects already underway in the Cambie Corridor including Bennington House on King Edward, The Grayson (which is now sold out and sits directly south of the above mentioned site), and Hawthorne, which is rezoned and soon to be released.

November 22, 2016by david.taylor@colliers.com
Development, Market Research

New Metrotown Downtown Plan Draft Released

The City of Burnaby has released a draft of the new Metrotown Downtown Plan, to be considered by City Council prior to adoption. The new plan comes after years of anticipation of finalizing planning efforts in Metrotown, which has seen rapid redevelopment following the City’s revision of the four town centre areas several years ago, and the creation of the ‘s’ zoning designation in 2010 that facilitated many of the highrise rezoning applications that have occurred in the past five years.

metrotown-planThe Metrotown Plan was originally drafted in 1977 and has been amended many times since. Planning efforts have been ongoing but the formal planning process got underway in the spring of 2016 with a draft report on the proposed changes in the plan area. The new plan seeks to designate Metrotown as the true core of Burnaby’s four town centre areas; essentially calling it Burnaby’s Downtown.

Core principles in the plan include:

  1. Creating an Official Downtown
  2. Establishing Neighbourhoods and Community
  3. Providing Greater Connectivity
  4. Enhancing the Public Realm
  5. Providing New Amenities

Of primary interest to those in the development industry are the proposed updates and changes to the land uses within the plan area.The changes will create some new density, but more importantly will clarify potential zoning and urban design possibilities in some of the peripheral areas of Metrotown that had been in limbo for several years. The plan also shapes potential large-scale rezonings in the core area for big sites along Kingsway.

The general land use map and zoning designation framework is included below (click for greater detail):

metrotown-plan_1metrotown-plan_2

Other highlights:

  • high density mixed-use sites will require a minimum site area of 1.5 acres and will require a minimum commercial use of 1:3 per residential uses. (1 commercial SF per 3 residential SF)
  • Core downtown sites with RM5s/C3 designation allowing density up to 11.0 FAR
  • Large scale sites such as Metropolis at Metrotown, Sears, Old Orchard Shopping Centre and Plaza 5000 will require Master Plans prior to rezoning enactment
  • Sites in the Maywood area (south of Beresford), subject of rampant speculation over the past few years, will become a mix of RM5s and RM4s, allowing heights of 12-30 storeys South of Beresford, and 4-storeys along Imperial
  • new highrise opportunities North of Kingsway between Boundary and Halley Avenue
  • the creation of Central Boulevard as an ‘entertainment and garden street’ with new retail opportunities
  • a significant new open space in a redeveloped Metrotown Mall site
  • minimum frontage of 200 feet and minimum site area of 24,000 SF for a single tower project
  • minimum frontage of 400 feet and minimum site area of 48,000 SF for a two tower project (minimum 80 foot tower separation)
  • 6 ft minimum front and side-yard setbacks for commercial/mixed-use developments, and 15 ft front and side-yard setbacks for residential developments
  • larger floorplates for residential buildings over 50-storeys only (8,100 SF max floorplate) – office towers exception

The plan does not contain a unique set of community benefit policies. The City of Burnaby’s Community Benefit Bonus Policy would apply to any rezoning being brought forward.

The full draft of the Metrotown Downtown Plan can be downloaded here: https://burnaby.civicweb.net/filepro/documents/?preview=16934

November 21, 2016by david.taylor@colliers.com
Apartment, Development

Rezoning Plan for Lougheed Village Site Includes Two New Rental Towers

A rezoning application has been submitted to the City of Burnaby for Lougheed Village, a 7.4 acre rental apartment property that is currently improved with two 25-storey concrete high-rise apartment buildings and two 9-storey mid-rise apartment buildings. The site has a total of 528 current rental apartment units.

lougheed villageThe property was acquired in December 2015 by Starlight Properties, based in Toronto, for $160 Million. Located within the Lougheed Town Centre Plan area, the property’s value was partially based on the potential to add density, now the subject of a current rezoning application. The rezoning calls to use the RM4s and C1 zones as the basis for a redevelopment that includes four new residential buildings and reconfiguration of some of the existing buildings.

The site fronts Lougheed Highway, but has an address on Erickson Drive.

Details include:

  • a new 36-storey rental apartment tower (south tower)
  • a new 22-storey rental apartment tower (north tower)
  • a new 8-storey rental apartment midrise (“middle lodge”)
  • a new 3-storey rental townhouse building
  • demolition of the 2nd storey of existing commercial building
  • conversion of existing larger penthouse units into 43 new smaller units
  • creation of new amenity spaces
  • 645 total new rental units
  • 1,173 rental units in total
  • total density of 3.6 FAR (up from existing 1.88 FAR)

lougheed-village_1The site sits just one block West of Shape’s large scale mixed-use development “The City of Lougheed” currently in initial stages of development.

If supported at Council, the application will move forward to a more detailed package that would be presented at a public hearing early next year.

November 21, 2016by david.taylor@colliers.com
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