Larco has submitted their rezoning application for the 4.4 acre site that they own in the Lower Capilano area; home to a former athletic club near Capilano Road and Marine Drive. This project will be adjacent to another 262-unit two-tower project announced earlier this year.

The plan calls for a mixed use project which would include 451 residential units, a small amount of at grade commercial, a mini-storage operation, and a public community centre.

The proposal is to build this project in four phases over ten years, with the community centre targeted to begin construction in year seven. Project details include:

• A total of 451 residential units;
• An 18-storey residential tower and a 12-storey residential tower;
• Three 6-storey apartment buildings, one of which is a market rental building;
• A 4-storey apartment building (two storeys over top of the community centre);
• A 4-storey seniors’ rental building;
• Twenty 2 and 3-storey townhouse units.
• A 26,550 SF community centre on the north side of the public plaza in the foot of the 12-storey tower;
• A public plaza in line with the future cross roads;
• A continuation of the open space with the village green park area next to the plaza;
• A new greenway trail along the western edge of the site;
• 4,200 SF of commercial space next to the public plaza; and
• A 125,000 SF underground mini-storage facility in the 3rd level of the basement.

Thind Developments has applied to the City of Burnaby for rezoning of 6205-6255 Kingsway to allow a 4-storey mixed-use development with full underground parking. The site is currently occupied by a strip retail centre and the Intercity Motel. The total site area is 45,307 SF, and the zoning designation is C-9. The project includes:

• Total density of 2.2 FAR
• 101 units
• 187 parking spaces

The property was assembled in 2012-2013 for a total of $5,730,000, or $57 per buildable SF.

Kenstone Properties has applied to rezone a 32,681 SF site at 468 West 33rd Avenue and 4956-4958 Cambie Street under the Cambie Corridor Plan, which allows residential uses up to 6-storeys in this location.  The proposal includes:

• 68 residential units, including 8 townhouses;
• a 906 SF retail space on the ground floor;
• a density of 2.57 FSR;
• 30 three-bedroom units;
• 2-levels of underground parking

This site sold back in June 2012 for $13,600,000, or $159 per buildable SF.