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Coquitlam development site sells for $16.7 million an acre

Strategic location within local area plan commands a premium price
570-austin-avenue-coquitlam
A medium-density development site at 570 Austin Ave., Coquitlam, sold Aug. 6 for $3 million.

DEAL | A 0.18-acre medium-density development site at 570 Austin Ave., Coquitlam, sold Aug. 6 for $3 million. The sale price represented a value of $16.7 million an acre. Situated just east of North Road, the property lies within the Southwest Coquitlam Area Plan. Zoned single-family residential (RS-1), a generous density allowance of up to 3.0 floor area ratio is possible in strategic proximity to Highway 1.

PRICE | $3,000,000

FROM | Sam Emam, Macdonald Commercial