development partnership opportunity Pacific Centre, PO Box 10023 Suite 700, 700 West Georgia Street Vancouver, BC V7Y 1A1 Tel +1 604 683 3111 Fax +1 604 683 0432 cushmanwakefield.com
RE: Westport Village Development Partnership Opportunity
Cushman & Wakefi eld ULC (“C&W”) is pleased to present the opportunity to partner with Andrew Peller Limited (“APL” or the “Owner”) to develop Westport Village – one of the most diverse, substantively entitled, mixed-use communities in the entire Tri-Cities area.
The proposed Westport Village development sits on a 5-acre gateway site in Port Moody overlooking the Burrard Inlet, and anticipates a total development of approximately 67,500 square meters (726,500 square feet (rounded)) of complimentary land uses, including, market residential, market rental, seniors residential, offi ce, light industrial, hotel, and other uses.
From a regional context, the project location will enable Westport Village to benefi t and draw from, not only local municipality customers, but also nearby Coquitlam and Burnaby residents. Locally, Westport Village will be the western anchor for future homes, services and entertainment for the residents of Port Moody.
Westport Village has undergone signifi cant Offi cial Community Plan and Zoning Amendments and received an affi rmative vote in July 2019 for Third Reading at City Council. At the same meeting, a list of Prior to Fourth and Final Reading conditions have been issued and are available.
All inquiries regarding the potential partnership to develop Westport Village should be directed to the under-noted on behalf of APL. Full Westport Village Off ering Memorandum and Data Room is available WESTPORT VILLAGE upon request and execution of the attached Confi dentiality Agreement. port moody, bc
Sincerely,
Kevin Meikle Edgar Buksevics Vice Chairman Personal Real Estate Corporation Capital Markets - Investment Sales Senior Vice President Capital Markets - Investment Sales 604 640 5834 kevin. [email protected] 604 640 5859 [email protected] 726,500 sf GROSS FLOOR AREA
5.0 ACRES SITE AREA westport village
Westport Village will model a complete community with outstanding urban design which will aspire to achieve the highest levels of LEED Neighbourhood Development.
The development proposal features a vibrant mix of uses and housing types including market residential strata and rental, as well as retail, offi ce, hotel and industrial all combined with extensive community facilities such as daycare, artist’s studios, park spaces, and recreational facilities.
Westport Village is in the fi nal stages of an extensive rezoning and OCP amendment process that spanned over a decade and will ultimately see a dedicated land use designation within the Offi cial Community Plan - “Mixed-Use – Westport Village” and Comprehensive Development (CD) zoning. proposed development summary
Gross Floor Area Uses % of Total (Square Feet)
Commercial 216,900 30% (offi ce, retail, industrial, hotel, etc.)
Residential - Market Rental 193,600 27%
Residential - Market Strata 211,078 29%
Residential - Amenity 5,174 1%
Residential - Seniors 76,200 10%
Common Amenity 23,600 3% (athletic club, daycare, etc.)
TOTAL 726,500 100%
* Figures rounded **Westport Village draft zoning bylaw permits an increase/decrease of any of the proposed land uses by up to 15%. The above densities have maximized market residential (rental and strata) uses and minimized commercial/industrial, amenity, and seniors housing uses. N
the site
Westport Village is comprised of an assembly of 16 legal parcels totaling approximately 5 acres of land area. The Property features irregular shape and is bound by Schoolhouse Creek to the west, and public streets (Clarke, Douglas, and Short) to the north, east, and south. The northern portion of the Site is truncated by the above ground SkyTrain railway and its substation which opened in 2016.
There is a wide range of surrounding uses including industrial to the north, residential, commercial, and heritage to the east and low to medium density residential to the west and south.
The Property is improved with an approximate 32,000 square foot industrial warehouse and partially paved parking areas. Currently the Property has one access point of Douglas Street.
millennium line location WEST COAST EXPRESS
Westport Village is located on the western edge of the City of Port Moody at the intersection of two major arterial routes Clarke Street and Barnett Highway and along two major transit lines – the Millennium SkyTrain and the west coast express West Coast Express. 25 mins to downtown
millennium line
inlet centre station Suite 700 - 700 West Georgia Street PO Box 10023, Pacific Centre Vancouver, BC V7Y 1A1 1 604 683 3111 / cushmanwakefield.com
WESTPORT VILLAGE port moody, bc
Kevin Meikle Edgar Buksevics Vice Chairman Personal Real Estate Corporation Capital Markets - Investment Sales Senior Vice President Capital Markets - Investment Sales 604 640 5834 kevin. [email protected] 604 640 5859 [email protected]
* Kevin Meikle is licensed with K.H.M. Realty Ltd. and has a contractual relationship with Cushman & Wakefi eld ULC
E.&O.E.: This communication is not intended to cause or induce breach of an existing agency agreement. The information contained herein was obtained from sources which we deem reliable and, while thought to be correct, is not guaranteed by Cushman & Wakefi eld ULC 11/19