VANCOUVER COMMERCIAL REAL ESTATE ADVISORS

VANCOUVER COMMERCIAL REAL ESTATE ADVISORS

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Redevelopment Application: 611-631 Cottonwood, 616-646 Vanessa Court, Coquitlam

Redevelopment Application: 611-631 Cottonwood, 616-646 Vanessa Court, Coquitlam

Coquitlam
Redevelopment Application

September 16, 2020

Sold price: $46,205,000 (sold date ranged between 2017 October to 2020 Feburary)

Polygon Development has applied to the City of Coquitlam to redevelop 18 single family lots fronting Cottonwood Avenue and Vanessa plus a portion of surplus cul-de-sac on Vanessa into medium density multi-family residential. The application prosed 6-storey apartment building containing 278 market condominium units.

The project is located within the Burquitlam Lougheed Neighbourhood Plan with 340 meter from Burquitlam Skytrain Station. The site can be considered as two application as they have different FAR. Referring to the information below, Cardinal site will have 140 units and Burquitlam East 138 Units.

Site Statistics

Total Site Area: 64,275 Sqft
FAR: 1.13 FAR for the overall site, or 2.17 FAR for the west Parcel only.
Potential Density: 139,810 Sqft
Lot Coverage: 51%

Project Statistics
Cardinal (611-619 Cottonwood Avenue and 616-632 Vanessa Court) – One Six Story Apartment

28 one-bedrooms
94 two-bedrooms
8 two-bedrooms plus den
10 three-bedrooms
28 of the unit will be provided as adaptable units.
7,779 sqft of indoor and outdoor amenity space

Burquitlam East (623-631 Cottonwood Avenue and 634-646 Vanessa Court) – Two Six Story Apartment

78 units in building 1 and 60 units in building 2
28 units will be provided as adaptable units
8,468 sqft of indoor and amenity space

Information Information Acquired From: City of Coquitlam

Developer/Architect: Polygon Development

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Yoyoe Lu

Founder and managing principal

yoyoe@claridgeadvisors.com

Yoyoe is the founder and managing principal of Claridge. She was ranked one of Vancouver’s top real estate agents. Currently, Yoyoe is our strategic mind leading the team to success. Her affiliation with industry professionals put her ahead of our competitors. Yoyoe is also part of the Rotary Club of West Vancouver, Canadian Homebuilders Association, Urban Land Institute and Urban Development Institute.

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Ashley Osborn

Development Site and Investment Specialist

ashley@claridgeadvisors.com

Ashely is our lead land and investment advisor. He has been consistently featured in the annual top 100 real estate deals of British Columbia ranking. With over $15 billion worth of domestic and international real estate investments under his belt, Ashley is one of the top agents in the province. His 20 years of real estate and financial experience make him a master in negotiation and acquisition.

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Patricia Wong Chong

Investment and Leasing Specialist

patricia@claridgeadvisors.com

Patricia is our investment and retail leasing advisor. Her experience in brokerage and market research analysis has helped her comprise over $550 million in commercial real estate transactions. Patricia is responsible, detail-oriented, and professional. Her strong work ethic and positive attitude have led her to surpass all her competitors.

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Schumann Li

Land Assembly & Residential Specialist

schumann@claridgeadvisors.com

Schumann is a top-producing realtor in the Lower Mainland with more than 30 years’ experience. Over the years, Schumann hasn’t just garnered awards, but the trust of countless customers. Her clients continually refer to her outstanding professionalism, work ethic and poise.

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Wendy Kaip

Sales Associate

wendy@claridgeadvisors.com

Whether it’s decoding city policies, strategizing relocation plans, home sellers looking for a trustworthy advisor to unlock their property’s maximum potential- Wendy is here to help every step along the way.

Prior to real estate, Wendy spent over a decade in the mining industry with her attention to detail, keen negotiation skills, extensive network and strong reputation for getting the deal done, bringing endless value to her current real estate clients.

Whether you are thinking about selling to a developer, or have more questions about commercial real estate, Wendy invites you to connect, to see how she can utilize her expertise and team to help create value and maximize your real estate goals.

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Simon Chan

Managing Broker

simon@claridgeadvisors.com

Simon is the managing broker of Claridge Real Estate Advisors Inc. His expertise has helped our agents resolve many difficulties. Not only is Simon knowledgeable with real estate legislation, but he is also very detail orientated. With Simon on our team, our agents are confident to conduct businesses and will always get the support they need to ensure they’re not walking on dirty water.

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Frank Zhou

Analyst

frank@claridgeadvisors.com

As the analyst of the company, my key job is to help brokers to find marketable clients and locate feasible development sites by collecting and analyzing up-to-date market transaction data and conducting target market and property-level research. Meanwhile, I am also in charge of maintaining the company’s property database to ensure accuracy and comprehensiveness and continuously upgrading the level of knowledge by staying up to date with hot topics, and market trends, and incorporating findings into everyday work. Before joining the company, I worked for CR Group as a real estate investment manager, focusing on capital raising, equity and debt financing, acquisition and renovation. I hold 2 master’s degrees, one in Housing Management and the other in Economics.

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