Here is an update to some of the rezoning applications that have been advanced to public hearing at Burnaby City council this week:

7201 11th Avenue (Southgate City –  Phase 2)

This proposal is the second phase of land to go through rezoning in Ledingham McAllister’s “Southgate City” master planned community in South Burnaby. The plan for this plot in the ‘Island Neighbourhood’ in the Southwest corner of the site includes:

• a 28-storey tower and two 4-storey lowrise buildings
• 321 units (213 in tower, 108 in lowrises)
• 84 one-bedrooms, 225 two-bedrooms and 12 three-bedrooms
• 354 underground parking spaces
• 307,037 SF of gross floor area

6695 Dunblane Avenue & 4909-4971 Imperial Street

This “L” shaped property is owned by Transca Development, who acquired the assembly of four Metrotown lowrise apartments in February 2016 for $28,700,000 and submitted an initial rezoning inquiry at that time. The 56,239 SF site sits in a very active development zone, with The Park, Met 1 and Met 2 all nearby. Transca is now seeking approval to move to public hearing with a high-density residential project under the RM-5s designation including:

• a 36-storey tower and 2-4 storey lowrise form
• 313 units
• total density of 5.11 FAR
• 6,225 SF of live/work (commercial space) 0.11 FAR
• 31 studios, 103 one-bedrooms, 112 two-bedrooms and 67 three-bedrooms
• 387 underground parking spaces

6668-6730 Dunblane Avenue & 6661-6709 Marlborough Avenue

Just across Dunblane Avenue to Transca’s applicaiton, Polygon’s application on Dublane, originally introduced in November 2015, is now headed to public hearing. Details of the proposal for the 7-lot, 54,085 SF assembly of duplexes and apartment buildings includes:

• a 38-storey tower with townhouses
• 263 units (255 in tower and 8 townhouse units)
• total density of 5.0 FAR
• 1 studio, 220 two-bedrooms, 42 three-bedrooms

Here is a brief snapshot of the condo resales market since the start of 2016, shown as average price per SF broken down by sub-area/neighbourhood.

Source: MLS Data

The above chart reflects data on all MLS sales for condo units that were one year old or newer at the time of sale, and only includes neighbourhoods with sales in multiple buildings. Pricing is slightly distorted by product type; for example, all of the downtown condo product is concrete highrise which is more expensive, whereas all of Maple Ridge product is in lowrise or townhouse form that is much cheaper to build and sell. Nevertheless, some may find the average pricing stats interesting.

The market for pre-sales inventory is likely to track above the average resales in a given sub-market.

Below is a summary of current rezoning applications going before the City of Burnaby council.

2422 Alpha Avenue

The proposal for this 41,770 SF Brentwood town centre site, by Monark, was originally submitted back in September 2015 and calls for a 23-storey condo tower, that includes:

• 160 units, including 4 townhouses
• 59 one-bedrooms, 80 two-bedrooms and 21 3-bedrooms
• underground and structured parking
• total density of 3.6 FAR
• 176 parking spaces

6050 Sussex Avenue

The plan for this 2.9 acre site that includes an existing apartment building and church on the North side of Metrotown is for two towers including condos and rental apartments, under the RM5s designation in the Metrotown Centre Plan.The site is owned by Townline, and a preview of the proposal can be seen here.

Details of the proposal include:

• a 41-storey condo tower and a 31-storey rental apartment tower
• a redevelopment of the existing Burnaby West United Church
• 321 condo units
• 238 new rental apartment units
• a total density of 5.0 FAR
• retention of existing 18-storey and 15-storey apartment buildings with 254 units
• 362 underground parking spaces

3700 Hastings Street

The plan for this 10,000 SF site in the Hastings Heights area is for a 4-storey mixed-use development, including:

• 21 market rental apartment units
• 3-studios, 12 one-bedrooms, 6 two-bedrooms
• 6,278 SF of ground floor retail space
• 28 parking spaces

SOLO District Phases 3 & 4

Rezoning for Appia’s four tower SOLO District project was approved back in 2012, and since that time two towers have now been substantially sold out, with tower one having been completed, and tower 2 currently under construction.

Appia is now seeking a rezoning amendment to tweak some of the details of the remaining two towers. The design changes include:

• Phase 3 tower:
  • increase height form 39-storeys to 42-storeys
  • decrease unit count from 328 to 280
  • increase commercial area from 18,000 SF to 45,000 SF
• Phase 4 tower:
  • increase tower height from 43-storeys to 48-storeys
  • decrease unit count from 365 to 319
  • increase commercial area from 35,000 SF to 60,000 SF

The architectural design, by Chris Dikeakos, has also been amended.