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Coquitlam Square

2918 & 2922 Glen Drive, Coquitlam
Mixed-Use Development Site

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Summary

PID
000-833-274
Site Area
79,245 SF (1.82 Acres)
Frontage
282 Feet
Year Built
1979
Property taxes
$183,449.59
Net Rentable Area
35,700 SF
Occupancy
100%
Holding NOI
$850,000
Potential Buildable
396,225 SF
Maximum FAR*
5x --> 6x (with purpose built)
Zoning
Bid Process (March 2020)

Legal Description

The subject property, Coquitlam Square comprises of one(1) legal lot,

Lot 148 and has 2 civic addresses 2918 & 2922 Glen Drive Coquitlam. The property is improved with two commercial buildings consisting of 37,500 square feet of leasable area with 28 retail/office tenancies. The property is well located within the Coquitlam City Centre Area which is the most established and densified area in Coquitlam.

CURRENT | FUTURE ZONING

The existing Official Community Plan (OCP) designates the land as General commercial, C-2 a zone designated to accommodate shopping centres and lower densities. Discussions with City planners in January 2020, there is a draft OCP plan being considered that accommodates higher mixed use densities due to the recent Evergreen line expansions and rapid transit stations.

Given the upcoming proposed changes to City Centre Commercial zone indicated in the draft revised OCP , it is envisioned that the subject property will benefit from this up zoning to a minimum C-4 zoning designation.   Coquitlam City Centre Area

SITE SIZE

Lot 148 is square in dimension and comprises of one (1) city block with approximately 282 ft frontage along Glen Drive and 253 ft fronting along Pacific Street. The property has a total land base of approximately 1.82 acres or 79,245 Square Feet.

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