Millenium Development has submitted a rezoning application to the City of Burnaby for a 1.3 acre site at 4141 Lougheed Highway in the Brentwood Town Centre area.

The site is located on the north side of Lougheed Highway between Madison Avenue and Gilmore Avenue and sits in the recently approved Buchanan West Master Plan subarea. The site is currently improved with an older industrial warehouse building and surface parking.

The proposed rezoning is for a two tower mixed use development utilizing the RM5s, RM5r
and C3 districts.

Details of the proposal include:

• 62-storey & 54-storey towers;
• 10-storey hotel podium;
• 824 residential units, including:
• 488 condos;
• 246 market rental units;
• 80 non-market rental units;
• 280 hotel rooms;
• a total density of 13.33 FAR;
• 794 underground parking stalls on 8 levels.

Millenium has previous experience in developing condo/hotels including the L’Hermitage building on Richards Street in Downtown Vancouver which is a 28-storey condo project with a 60-unit boutique hotel on the bottom floors.

Beedie Living has submitted an application to rezone a 10-acre site that they own at 3676 Bainbridge Avenue in the Bainbridge Urban Village area of Burnaby.

The site is currently improved with older lowrise industrial buildings zoned M2 and M5 industrial.

The site became designated for mixed use residential when the Bainbridge Urban Village Community Plan was adopted by the City of Burnaby in 2022.

The preliminary application indicates that the overall development will include “a mixture of 6-storey below-market rental buildings, 6-12 storey strata buildings, and 4-storey stacked townhomes.”

Other details include:

• 1,000 – 1,100 residential units;
• 20% affordable rental units at 20% below CMHC median rents;
• a total density of 2.20 FAR (970,000 SF)
• road upgrades and new public green space.

The site has a current assessment value of $80,789,300.

This site is located near a similarly designated development site that we have just listed at 7022-7036 Greenwood Street.

We are pleased to present an opportunity to acquire a woodframe development opportunity in Burnaby’s emerging Bainbridge Urban Village area.

Highlights

• 39,600 SF site (150’ x 262’) with Bainbridge Urban Village Plan designation allowing up to 3.0 FSR 
• Potential to assemble neighbouring lot at 7008 Greenwood Street for a combined site of 1.51 acres / 66,000 SF (250 ft. site frontage)
• Gross density of 200,000 SF or approximately 250 residential units, with sufficient site area to provide inclusionary units in separate low-rise building
• Located directly across from large scale concrete projects: Burnaby Lake Village and Burnaby Lake Heights that will provide significant new retail, park and amenity space

Please click here or contact us for further information including price guidance.