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Development

202-Unit Project Proposed for Cambie and W. 35th Ave

A rezoning application for 10 single-family lots located at 4949-5109 Cambie Street goes to public hearing next week.

cambie35th

4949-5109 Cambie Street

Washington Properties (whose project you might be familiar with on West 41st across from Oakridge) is planning the development of three six-storey concrete residential buildings containing a total of 202 units all over two levels of underground parking. The total site frontage is 626 feet, and the total site area is 76,825 SF.

Washington’s website suggests the units will all have air conditioning and “high” ceilings.

The Cambie Corridor Plan suggests this site can achieve 1.75 to 2.25 FSR, but before a road dedication and a transfer of heritage density, the proposed density is 2.39 FSR (or 2.60 FSR after the road dedication). Approximately 20% of the $5.5 Million CAC will be the transfer of heritage density.

4949-5109 Cambie Street_2

The site was acquired between 2011 and 2012 for $34,098,000, or $186 per buildable SF.

See more information here.

May 28, 2014by david.taylor@colliers.com
Development, Retail

Long-Vacant Lot in Coquitlam to be Redeveloped

A controversial piece of property in central Coquitlam that’s sat vacant for years will get a new lease on life, in a move that was widely opposed at a public hearing Monday.The property is located at 1649 Como Lake Ave., directly west of the Chevron station at the intersection with Poirier Street.

1649 Como Lake_2

The proponent, represented by Tideway Developments, wants to consolidate two lots at 1649 and 1665 Como Lake Ave. to make way for a one-storey, 6,600-square-foot development encompassing four businesses.

What those businesses will look like remains unclear, as the developers are still seeking interested parties. The city’s zoning policy allows only for businesses like a grocery store, specialty food retailer, flower shop or seasonal Christmas tree stand.

1649 Como Lake

The rezoning was endorsed unanimously, despite a handful of residents at the public hearing citing concerns around increased traffic, crime and vandalism, a loss of property values, and the belief that commercial units don’t belong in the neighbourhood.

Read more: http://www.thenownews.com/news/long-vacant-lot-in-coquitlam-to-be-redeveloped-1.1077604

May 28, 2014by david.taylor@colliers.com
Development

Plans for 48-acre Southgate Neighbourhood Taking Shape

Plans are coming together for the Southgate neighbourhood, the 48-acre Safeway distribution centre that was sold to Ledingham McAllister in 2012. The City of Burnaby has been working through a draft plan since last year and has now released a concept for the site.

Overall Site Plan

Overall Site Plan

The preliminary plan includes the following:

  • A gross density of 2.8 FAR
  • 5.8 Million SF of Market Residential
  • 200,000 SF of Commercial Space
  • Approx. 20 towers up to 46-storeys in height
  • 15-20 year build-out
Tower Heights

Tower Heights

Southgate 2

May 26, 2014by david.taylor@colliers.com
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