Coquitlam land assembly sold for $30M

The fourteen single-family lots have potential for future medium-density multi-family development

By
for Western Investor
August 8, 2017





coquitlam development
 
A residential land assembly with potential for multi-family development has sold for $30 million, Lee & Associates have announced. 
 
The 14 single-family lots with a combined area of 2.37 acres sold for approximately $2.1 million per lot. The large redevelopment parcel has potential to maximize densities concurrently with OCP amendments. The site is currently zoned for single-family residential but has potential for RM-3 multi-storey, medium density apartment development. The site falls within the core and shoulder of Coquitlam’s Transit-Oriented Development Strategy. The properties are located alone major transit nodes in the centre of Coquitlam, near the new Evergreen Skytrain expansion. 
 
The properties are located at 530-550 Delestre Ave., 316 Loring St. and 527-555 Sunset Ave., Coquitlam. 
 
 

Breakdown: 

 
Price: $30,000,000
No. of Units: 14
Price/Unit: $2,142,857
Lot Size: 2.37 acres
Property Type: Multi-family 
City: Coquitlam 
Province: B.C.  
Name of Brokerage: Lee & Associates 
Name of Buyer: Ledingham McAllister 
 
 

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Chris specializes in industrial and commercial sales, primarily in focused on Burnaby and the Tri-Cities.

Lee & Associates
Suite 800, 475 West Georgia Street
Vancouver, B.C. V6B 4M9
Office: 604-630-3392

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