Burnaby’s 401 Motor Inn eyed for social housing project.

Vancouver’s Portland Hotel Society wants Burnaby to “turn the light on” to address homelessness in the city.

Dan Small, a director with the society, spoke at council on Monday night, asking the mayor and councillors to demonstrate support for an affordable supported housing project at the 401 Motor Inn at 2950 Boundary Rd. The plan would see the motel turned into social housing with support services, such as on-site staff and counsellors.

The East Burnaby area is generally the area bordering New Westminster, and includes the areas of Edmonds Town Centre, moving East towards the Burnaby crest area and Cariboo Road.

This area is typified by existing single family housing stock, some newer townhome developments, and higher density forms of development, particularly in the Edmonds Town Centre area. Major high density projects in this area include Ledingham McAllister developing the 40+ acre Safeway site, and Amacon developing the site currently occupied by Mott Electric.

Pricing in the area for resales reflects the current mix of units. The below table illustrates all resales over the last 12 months for specific unit types (max. 30 years of age).

Source: MLS Data

Located at 9500 Erickson Drive in Burnaby, this 528 residential suite, 21 commercial unit, 4 tower property recently sold for approximately $100,000,000.  Built in 1973, the property currently produces $7,400,000 in gross income per year and sits on 7.5 acres of land.