5978 Wilson Avenue Burnaby, Bc
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Patterson Skytrain Station Metrotown Skytrain Station 5978 WILSON AVENUE BURNABY, BC Partnership. Performance. METROTOWN DEVELOPMENT OPPORTUNITY ~27,900 sf transit-oriented, high-density residential redevelopment site Bal Atwal*, Principal 604.647.5090 [email protected] * Bal Atwal Personal Real Estate Corporation OPPORTUNITY EXECUTIVE Avison Young is pleased to present this exceptional opportunity SUMMARY to acquire 5978 Wilson Avenue (the “Property”), located on the southern corner of Wilson Avenue and Kemp Street, on the north side of Central Boulevard. The Property is situated in the distinctive Central Park East neighbourhood of Burnaby’s Municipal Address 5978 Wilson Avenue, Burnaby Metrotown, with exceptional access to transit and a host of amenities within a 5-minute radius. Neighbourhood Central Park East Parcel Identifier 006-516-637 KEY HIGHLIGHTS Transit-oriented, high-density, purely residential Site Area 27,891 sf redevelopment opportunity in Metrotown 132.5 ft on Wilson Avenue Frontages Within a 5-minute walk of Patterson SkyTrain Station 210.5 ft on Kemp Street RM3 Current Zoning Designated RM5s in Metrotown OCP, allowing for a maximum Multiple Family Residential density of 5.0 FSR OCP Metrotown Downtown Plan Ideal site dimensions for redevelopment, including 132 ft of frontage on Wilson Avenue RM5s OCP Designation High Density Residential Use Highly coveted Metrotown location surrounded by an abundance of amenities Maximum Allowable Density 5.0 FSR - 139,455 sf Currently improved with a 3-storey, 38-unit rental apartment Current Improvements 3-storey wood frame building building providing holding income Estimated ~$346,000 Net Operating Income Asking Price Contact Listing Agent 450 metres ~27,900 sf ~139,000 sf from Patterson SkyTrain Station prime redevelopment site of potential buildable density OFFERING PROCESS Interested parties will receive a Confidential Information Memorandum (CIM) upon execution of a Confidentiality Agreement (CA). Transaction will take place by way of an Assignment Agreement for an existing firm and binding contract. Please contact the Listing Agent for additional details. DEVELOPMENT POTENTIAL OCP DESIGNATION The Property is currently zoned RM3 (Multiple Family Residential) and falls within RM5s Metrotown Regional Town Centre in the Burnaby Official Community Plan. The Metrotown Downtown Plan (MDP) is the guiding document for city planning SITE AREA and land use within the Metrotown Regional Town Centre area and was officially adopted on July 24, 2017. 27,891 sf Located in the Central Park East neighbourhood on Wilson Avenue, between BASE RESIDENTIAL DENSITY Central Boulevard and Kingsway, the Property is designated as RM5s (High Density Residential Use) under the MDP. This designation allows for 5.0 FSR of purely 3.4 FSR – 94,829 sf residential density (includes 1.6 FSR of bonus density), which equates to a total potential buildable square footage of 139,455 sf. BONUS RESIDENTIAL DENSITY 1.6 FSR – 44,626 sf MAXIMUM ALLOWABLE DENSITY 5.0 FSR – 139,455 sf For more detailed information on the Metrotown Downtown Plan, please visit: https://www.burnaby.ca/Assets/Metrotown+Downtown+Plan.pdf B OU N DAR Y R OAD C H R I S T O P H T E H KINGS R U R S W T O A N Y CT S MI T H AVE N U E S T S MAN DY AVE N U E R B A E O N E N D T D E L Young Commercial Real Estate (B.C.) Inc.; DBA, Avison Young. we deem reliable and, while thought tobe correct, is not guaranteed by Avison E. &O.E.: The information contained herein was obtained from sources which Avison Young.© 2018 All rights reserved. L AMENITIES S 10 T 9 8 7 6 5 4 3 2 1 R * Bal Atwal Personal Real Estate Corporation [email protected] 604.647.5090 Bal Atwal*, J E R S E Y AVE N U E E E T BC LiquorStores Coffee Waves Metrotown Hilton Vancouver Earls Kitchen +Bar Save-On-Foods Bank RBC Royal Scotiabank ShoppingCentre Old Orchard Crystal Mall Metrotown at Metropolis I N M AN AVE N U E F A Principal R R I N G T SkyTrain Station SkyTrain Patterson O N S T PAT T E R S ON AVE N U E STATION PAT T E R S ON AVE N U E PATTERSON W I L L I M C AR L E T ON N S G A D Y A O B N R E D E X R W T R I O I E L S N Y S L S K O I V I N B AR K E R O S AT E N T H A J B AR K E R AVE N U E A R L V E E S M WILLINGDON AVE E E N A V T E N U E E R T E S N U KINGS E E S E T C T B E E N 9 W R C E DAR R OS E C T T A E R W S I Y A M L F L S A O O with over 450shopsandservices.with over ahostofamenities offering inCanada, largest inBritish andthird Columbia, centre shopping isthelargest Nearby atMetrotown Metropolis viaautomobile. 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