Strand has completed on the acquisition of a lowrise rental site on Vancouver’s Westside. The site is a two-lot single family assembly totaling 26,300 SF at 6065-6075 Collingwood Place, near the intersection of Dunbar and SW Marine Drive.

Strand passed public hearing in November on a rezoning proposal under the Secured Rental Policy (“SRP”) to allow a 5-storey, 34-unit rental building.

Under the SRP, the site is located on an eligible arterial road and is able to rezone under the RR-2A (four-storey), RR-2B (five-storey) and RR-2C (six-storey with 20% of residential floor area secured as below-market rental units) zones. Out of the eligible options, Strand chose to rezone to RR-2B which permits rental units up to five-storeys in height and 2.20 FSR.

The $14,170,000 purchase price equates to $225/buildable SF based on the approved rezoning application.

Shape Properties has submitted a rezoning application to amend the master plan for their 28-acre ‘Amazing Brentwood‘ site in the Brentwood Town Centre area of Burnaby.

The master plan for the Amazing Brentwood site was originally approved in 2013 and included 11 residential towers in addition to substantial retail and commercial space. Subsequently, five towers have been completed (or under construction), with two further towers in the application phase. The remaining density on site is now subject to the City of Burnaby’s Rental Use Zoning Policy (RUZP), adopted in 2021.

Furthermore, on November 30, 2023, the BC Legislature granted Royal Assent to Bill 47- 2023
Housing Statutes (Transit-Oriented Areas) Amendment Act 2023. Bill 47 enables the Province to mandate specific densities, size, and/or dimensions of buildings within transit-oriented areas (TOAs) based on specific distances to transit stations, and restrictions on residential off-street requirements within these
TOAs. The Amazing Brentwood site is within a 200m radius of the Skytrain Station, thereby requiring the City of Burnaby to permit a minimum 5.0 FAR density for the site.

Shape is now proposing a variety of amendments to the Master Plan to accommodate the required additional nonmarket inclusionary rental density, associated offset density and new TOA policy.

The proposed changes are summarized as follows:

• Increased tower heights up to 80-storeys at centre of site;
• An additional 4.7 Million SF of residential density (2.4M SF minimum rental);
• No additional commercial floor area (the RUZP allows 50% of comm density as rental residential);
• Addition of childcare space;
• Additional green space.

We are pleased to reintroduce this pre-assembled 30,000 SF site in the Maplewood Area of Vancouver. Preliminary plans are in place for a 6-storey, 77-unit woodframe rental development at 1.88 FAR. All plans and reports are in place and ready for submission to the District of North Vancouver for an OCP amendment and rezoning.

The site is currently designated for 1.20 FAR townhouse development and there are existing plans with planning feedback for a 27-unit townhouse development.

The asking price is $8,900,000 or $161 per buildable SF based on the preliminary plans. Please reach out to us for further details.

https://www.collierscanada.com/en-ca/properties/for-sale-north-vancouver-townhouse-development-opportunity/can-526-550-riverside-drive-2194-windridge-avenue-north-vancouver-british-columbia-canada/can2009932