A 1966-built, three-storey rental building with 27 units at 4330 Maywood Street in Burnaby could be replaced by a new 270-ft-tall, 24-storey tower with 120 mixed-tenure homes.
SVM Developments’ rezoning application, designed by GBL Architects, calls for the redevelopment of the 19,000-sq-ft corner site, located one block south of SkyTrain’s Metrotown Station — about a six-minute walking distance.
The proposal envisions 91 condominiums, with a unit mix of 33 one-bedroom units, 40 two-bedroom units, and 18 three-bedroom units.
The remaining 29 homes will be rental homes, with a unit mix of two studios, 18 one-bedroom units, and nine two-bedroom units. A total of 27 of these rental units will be affordable replacements, set at pre-development rents for returning tenants and 20% under Canada Mortgage and Housing Corporation’s median market rates for new tenants.
There will also be a net gain of two rental units, including one below-market unit and one market unit.
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Residents will have access to a total of 4,500 sq. ft. of indoor amenity space, including a fifth-level multipurpose room for rental tenants and a multi-purpose room on the 21st floor for strata.
Ground-level retail and restaurant units totalling over 13,000 sq. ft. of commercial space will help activate the southwest corner of the intersection of Maywood Street and Silver Street.
The tower incorporates terraces to create a “smooth transition between the two neighbourhoods,” with existing low-rise buildings to the south and planned towers to the north. The terraces double as landscaped areas and additional balconies for residents.
Five underground levels accommodate 146 vehicle parking stalls and 273 bike parking spaces. To help reduce car use and ownership, a two-zone monthly transit pass will be offered to 15% of strata residents and 100% of rental residents for two years.
The proposal’s total floor area is 111,000 sq. ft., giving the project a floor area ratio (FAR) density of 6.27 times the size of the lot. This includes the use of the 0.85 FAR density offset and 1.1 FAR bonus density (21,812 sq. ft.).