A 3.2 acre property located at 12320 Trites Road in the Steveston area of Richmond has been listed for sale with David Taylor of Colliers. An existing strata-titled industrial property known as ‘Steveston Industrial Estates’ represents a rare opportunity to develop 28+ single family lots in Richmond and achieve a 4% return during the rezoning process.

The property is designated in the OCP and local area plan for Single Family Residential. The existing strata industrial property provides solid income (approx. $520,000 net operating income) during a potential rezoning process. Furthermore, the existing lease terms allow vacant possession as early as 2013.

The property is located in an established residential area devoid of new single family lots, and there is potential for further assembly.

Please contact us for further details.

Openroad Auto Group has purchased Translink‘s property in Burnaby at Lougheed Highway and Boundary Road for $19,174,000. The 7.413 acre property located at 2020 Boundary Road, is designated for commercial development incorporating industrial flex/office with potential service commercial uses. The property is ideally positioned just west of Brentwood Town Centre, a rapidly growing residential and commercial area. The site had been listed for sale; click here for a brochure.

Onni has submitted a rezoning application for a 42 storey, 269 unit residential tower at 1396 Richards Street.  The proposed FSR is 8.615.

More information can be found HERE.

Burnaby’s Brentwood development could nearly double neighbourhood population.

Burnaby council chambers was packed for Tuesday night’s public hearing on the master concept plan for the Brentwood Town Centre site, with people gathering outside the doors to hear the proceedings.

The proposed development is divided into four phases and would include 10 residential towers possibly ranging in height from 20 to 70 storeys, depending on their location, and two office towers ranging in height from 30 to 40 storeys. The design also includes a redeveloped commercial centre, a 50,000-square-foot food store, and a variety of public outdoor spaces.

The City of Vancouver Affordable Housing Strategy was recenently unveiled which provides direction on affordable housing initiatives from 2012-2021.  The strategy relies heavily on the private sector leasing city owned land to construct affordable housing. 

More information can be found here.