For Sale
$4,188,000

Infill Development Site in New Westminster

337 - 339 Keary Street
NEW WESTMINSTER

0.40 ACRE | Residential Development Land

The Opportunity

Infill Development Site in New Westminster

This exclusive offering presents an opportunity to acquire a superbly located infill development site in the up and coming Brewery District area of the Sapperton neighbourhood in New Westminster. Two lots have been assembled with the potential for a total of 17,318 buildable square feet in a variety of ground oriented housing forms. The subject site provides excellent access to numerous commercial amenities, Royal Columbian Hospital, and the Sapperton Skytrain Station.

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Summary

Property
Attributes

Land Size

0.40 acre

LAND SIZE (SF)

17,318 sf

Price

Sale Price

$4,188,000

PROPERTY TAXES (2018)

$12,938.12

Location

337 - 339 Keary Street
NEW WESTMINSTER

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Property
Features

The subject site is designated Residential-Ground Oriented Infill in the recently adopted New Westminster Official Community Plan. The land use designation was created to allow for more diversity, availability and affordability of ground oriented housing, while keeping the general character of a neighbourhood. The designation allows for a wide range of housing forms up to a 1.0 FSR and is intended to provide flexibility and allow for creative design and housing solutions. Examples of possible housing forms include duplexes, triplexes, fourplexes or infill townhouses and rowhomes. Garages are not permitted within the RGO guidelines and the City has voiced a preference for pad parking over carports. Underground parking will be considered if it is not clearly visible and adds certain benefits to the development.

About The
Location

The subject properties are located in the Sapperton neighbourhood of New Westminster. Sapperton is home to Royal Columbian Hospital, the Sapperton Skytrain Station and the Brewery District which provides numerous commercial and retail amenities. Sapperton is located just 5 minutes away from Highway 1 which provides quick and efficient access across Metro Vancouver. New Westminster has experienced strong population growth, with a current population of 76,800. The Official Community Plan anticipates the population within the city to grow to 103,871 by 2041.