Colliers announced that it has sold a high density mixed-use development site, located steps from the Burquitlam SkyTrain Station in West Coquitlam, Vancouver. The property, 612-618 Clarke Road, sits on a combined 41,459 square feet and is currently improved with a 50-unit rental apartment building and a duplex.
With the recent expansion of the Millenium Line and the Evergreen Extension opening in early 2017, the Burquitlam neighbourhood has seen a recent surge in development and investment from prominent firms, including: Bosa, Marcon, Mosaic, Intracorp, Bluesky and Concert Properties.
Coquitlam enjoys a central location within the Metro Vancouver region and is currently listed as the fifth largest city in British Columbia.
Coquitlam property features:
- Trophy 41,459 SF high-rise development site
- Steps from Burquitlam SkyTrain station
- A maximum FAR of 5.5 and 228,025 buildable SF
- Holding income from existing 50-unit apartment building
- “Top of the Hill” views of Burnaby Mountain and Mount Seymour
- Designated mixed-use residential/commercial
- Downtown Vancouver is 30 mins away
- Metrotown is 20 mins away
- YVR Airport is 40 mins away
- Close to Simon Fraser University
Estimated 2016 demographics (within 1 km of the subject site):
- 12,962 residents
- Average household income: $91,263
