27-storey tower with condos and rentals proposed near Burquitlam Station

Jun 1 2020, 11:44 am

Another mixed-use tower application has been submitted to the City of Coquitlam for a site near SkyTrain’s Burquitlam Station.

Local developer Ikor Group’s proposal for 625 North Road — a mid-block site on the east side of the road between Foster Avenue and Perth Avenue, currently occupied by Burquitlam Funeral Home — calls for a 289-ft-tall, 27-storey mixed tenure residential tower with mixed tenure.

Records show the property was acquired by the developer for $15.5 million in June 2017.

625 north road coquitlam

Site of 625 North Road, Coquitlam. (Google Maps)

625 north road coquitlam

Site of 625 North Road, Coquitlam. (Google Maps)

According to the application designed by IBI Group, there will be 195 homes, including 151 condominiums, 33 secured market rental units, and 11 below-market rental units.

The condominium unit mix is 71 one-bedroom units, 68 two-bedroom units, and 12 three-bedroom units. The market rental mix is one studio, 15 one-bedroom units, nine two-bedroom units, and eight three-bedroom units. The below-market rental mix is two studios, seven one-bedroom units, and two two-bedroom units

The condominiums are within the upper levels, while the rentals are within the lower levels.

625 north road coquitlam

Artistic rendering of 625 North Road, Coquitlam. (IBI Group / Ikor Group)

625 north road coquitlam

Artistic rendering of 625 North Road, Coquitlam. (IBI Group / Ikor Group)

Residents will have access to 12,200 sq ft of indoor and outdoor amenity space, including shared condominium and market rental amenities on levels two to four, with a fitness gym, yoga room, library, theatre room, two guest suites, and a multi-purpose room with a full kitchen. The below-market rental indoor amenity is on the ground level and includes a gym.

The outdoor amenity space for condominium and market rental residents on the 14th floor includes an outdoor patio with BBQ, dining area, a dog run, and a children’s play area.

Five underground levels will contain 239 vehicle parking stalls and 247 bike parking spaces.

625 north road coquitlam

Artistic rendering of 625 North Road, Coquitlam. (IBI Group / Ikor Group)

Altogether, the building will have a total floor area of 425,000 sq ft, giving it a floor area ratio density of 5.5 times the size of the 29,000-sq-ft lot.

If the rezoning is approved, the project will generate $2 million in development cost charges, $4.1 million in density bonusing, $544,000 towards the city’s Affordable Housing Reserve Fund, and $218,000 in voluntary community amenity contributions.

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