One of Metrotown’s premier development sites has sold. The site, located at Silver Avenue and Beresford, is comprised of two lots totaling 84,027 SF in size and is currently improved with two walkup apartment buildings. The site is currently zoned RS-3, but is designated for rezoning to Burnaby’s high-density residential zoning RM-5″S”.
The site at 6380-6420 Silver had been listed for sale earlier this year and was acquired by Belford Properties, who have sites in Burnaby and South Vancouver.
The potential rezoning allows over 420,000 SF of buildable area and will likely allow one or more large towers. The adjacent sites along Beresford have both recently been developed by Intracorp as tall towers – to the East is Metroplace, a 46-storey tower with 342 units completed in 2014. To the West is Silver, a 38-storey tower with 290 units nearing completion.
As was reported in the media late last week, two major rezoning inquiries are going before the City of Vancouver’s Standing Committee on City Finance and Services on Wednesday; one was expected and one was a bit of a surprise within the industry. The inquiry stage simply confirms Council’s approval to proceed to a formal rezoning application stage.
- 1.54 acre site
- Proposal to increase the density and height for commercial uses
- 1,100,000 SF of office space for Federal Gov’t (up from existing 390,000 SF)
- A density of 17.0 – 20.0 FSR
- Max height of 350 ft due to view cones (29 storeys)
- Existing CD-1 zoning proposed to be amended
Excerpt from the Policy Report explaining the heritage aspect:
- the former Main Post Office (built in 1910) — Municipally Designated and Federally Recognized Heritage Building, listed as an ‘A’
- the R.V. Winch Building (built in 1911) — Municipally Designated and Federally Recognized Heritage Building , listed as an ‘A
- the Customs Examining Warehouse (built in 1913) — Vancouver Heritage Register, listed as an ‘A,’ and Federally Recognized Heritage Building , listed as an ‘A,
- the Federal Building/Post Office Extension (built in 1936) — listed as a ‘B’ (but not designated).
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In 1986 the four buildings were restored by the Federal Government. While the buildings were seismically upgraded, they would not meet today’s standards and some portions of the buildings received very modest upgrades
- 2.98 acre site acquired by bcIMC in 2013 for $159 Million
- Rezoning to allow reuse and retention of the existing building, with new residential and commercial uses
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Existing Post Office building would contain retail, office, hotel, residential lobbiesand the blank granite walls would be modified to provide for pedestrian-oriented at-grade retail
- New building above would contain office, hotel, and rental/condo housing
- View cones limit building heights between 225 feet and 285 feet
Comment from the Policy Report on the heritage aspect: