6571-6591

Transaction Price: $2,800,000 (2020)

6551 unable to acquire

Site Area: 17,427 Sqft

FSR: 0.6

Potential Buildable: 10,455 Sqft

Individual Investor have applied to the City of Richmond for permission to rezone the properties at 6571 and 6591 No. 1 Road from the "Single Detached (RSl/F)" zone to the "Low Density Townhouses (RTL4)" zone to develop an eight-unit townhouse project.

The subject site is located in the Thompson planning area within the Terra Nova Sub-Area designated for townhouse redevelopment. The "Neighbourhood Residential" designation accommodates single-family, two-family, and multiple family housing as principal uses, to which the proposed development is consistent.

The applicant proposes to consolidate the two properties into one development parcel with a total area of 17,427 sqft, and construct eight townhouse units in three buildings.

The subject site has total area of 17,427 sqft and a 132 ft frontage along No. 1 Road, which is less than the 50 m (164 ft.) minimum development site frontage on major arterial roads, such as No. 1 Road.

As per the City's Affordable Housing Strategy, townhouse rezoning applications received prior to November 15, 2021 are required to provide a cash-in-lieu contribution of $8.50 per buildable square foot. Consistent with the strategy, an $88,867.50 contribution is required prior to final adoption of the rezoning bylaw.