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.