- What A land parcel slated for a residential tower is up for sale in Burnaby, B.C.
- Why The vendor is looking to offload the property or create a joint venture
- What next Once fees are paid, the project could quickly begin
Square Nine Developments is seeking either around $17.5m or a joint venture offer for a vacant residential development site in south Burnaby, B.C., Green Street News can reveal.
The lot, at 7109 18th Avenue, at the corner of 18th Avenue and 18th Street, comprises three land parcels totalling 25,000 sq ft. Cushman & Wakefield has the marketing assignment.
The campaign notes that plans for a 29-storey apartment tower have been completed and have support from municipal staff. The plans call for 209 units, with 61 set aside as different classes of rental units. The proposed density for the project is a 6.15 floor area ratio.
The project could be shovel-ready in months after fee payments.
A short distance from Edmonds SkyTrain station, the parcel is also near Burnaby’s new Rosemary Brown Recreation Centre to the south and an abundance of dining options on Kingsway Avenue.
Square Nine Developments is a Burnaby-based developer of both low- and high-rise residential projects.
