Multi-Family Redevelopment Opportunity in Downtown New Westminster

Description

Address

47 Sixth Street, New Westminster, BC V3L 2Z1, Canada

The Offering

Lee & Associates and CBRE Limited are pleased to present the opportunity to acquire 47 Sixth Street (the “Property”) – a rare corner redevelopment site with the potential to build a unique transit-oriented multi-family development with existing holding income in a mixed-use urban environment within the core of New Westminster. Located at the intersection of Sixth Street and Carnarvon Street, the Property offers an existing density of 5.2x FSR upon redevelopment. A massing study has been performed, illustrating a multi-family redevelopment scheme of over 50,000 square feet. Situated in between two SkyTrain Stations within New Westminster’s downtown waterfront district, the Property benefits from its proximity to all of New Westminster’s best amenities and its accessibility throughout the Lower Mainland.

Highlights

• Existing 12,750 SF commercial building with holding income
• Located in New Westminster’s downtown core, surrounded by an abundance of amenities, including Safeway, River Market, and Scotiabank
• Allowable density up to 5.2x FSR
• Exceptional transit-oriented location between two SkyTrain Stations – Columbia Station (3-minute walk) and New Westminster Station (5-minute walk)