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NEW

Metrotown High-Rise Development Site

6470 & 6508 Silver Avenue, Burnaby
1.4 acres —across from Maywood Park
215,622 SF total buildable ($347/SF on base density)

$52,000,000


Summary

Price
$52,000,000
Lot Size
59,895 SF (283.9’ × 210.8’)
Land Area
1.4 acres
Zoning
Metrotown Downtown Plan (RM4s High Density Residential)
Floor Space Ratio
3.6 FSR (2.5 base residential + 1.1 bonus)
Development Potential
Up to 215,622 SF buildable (149,738 SF base + 65,885 SF bonus density)
Price/SF Buildable
$347 on base density
PID
003-254-046 & 009-082-972
Financing
Treat as clear title
Net Operating Income
Call agent

Legal Description

Capitalize on strong demand for condos in Metrotown
This offering represents a rare opportunity to acquire a large-scale high-density multi-family development site in the heart of Burnaby’s rapidly changing Metrotown core. Located directly across from Maywood Park and steps away from Metropolis at Metrotown and Skytrain station, this site offers steady holding income during the redevelopment process.

Investment Highlights

  • Situated on a quiet street directly across from Maywood Park; the site will benefit from unobstructed views
  • Only 5 minutes walking distance to Metropolis at Metrotown and the Skytrain providing easy access to rapid transit and some of the best shopping in British Columbia
  • The site is currently improved with two rental apartment buildings totalling 83 suites providing good holding income during the rezoning process
  • Designated as RM4s in the Metrotown Downtown Official Community Plan, providing for high-density residential development:
  • Site size of 59,895 SF with 284 feet of frontage on Silver Avenue and 211 feet deep
  • Build up to 215,622 SF (based on 3.6 FSR)

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