On Monday, Coquitlam City Council approved approval to a high-rise task in the Burquitlam area by Cressey Development Group, advancing a job that has actually been in the works for a minimum of three years and was affected by a fire.The site of the
job is 727 North Roadway, a 0.94-acre website between Como Lake Avenue and Clarke Road on the eastern side of the City of Burnaby boundary. The website is immediately north of the two-tower Smith & Farrow job by Boffo, and about a block far from the Centuries Line SkyTrain’s Burquitlam Station, making it a Tier 1 transit-oriented area(TOA )under provincial legislation.BC Assessment values the residential or commercial property at$13,788,000 in an evaluation dated to July 1, 2025, and the home is held by Cressey under Sherwood Park Apts. Ltd. According to a report to Council, Cressey first submitted a rezoning application for 727 North Roadway in Might 2023, proposing a 34-storey apartment tower and a six-storey rental tower.Although there do not seem media reports about it, city staff said a
December 2024 fire harmed the building and made it uninhabitable. In December 2025, a fire broke out in the building again, with Coquitlam RCMP revealing that they were investigating the cause of the fire in the deserted building.”Given the fire and developing market conditions,”said personnel, Cressey has modified the proposed condo tower
to 27 floors. The condo tower would be found on the eastern half of the site, along Farrow Street, and include 46 studio units, 70 one-bedroom units, 99 two-bedroom systems, and 18 three-bedroom units for an overall of 233 units.The six-storey rental structure will then be found on the western half of the site, along North Road, and consist of 25 studio units,
36 one-bedroom units, 20 two-bedroom systems, and 13 three-bedroom units for an overall of 94 rental units. Of the 94 rentals, 80 will be supplied at market rates and 14 will be provided at below-market rates.Cressey is seeking to rezone the website from RM-2( Three-Storey Medium Density House Residential )to CD-59(Comprehensive Advancement)and the task has a total proposed density of 5.5 FAR. The task will likewise include an overall of 239 vehicle parking areas, 319 bicycle parking spaces, 22,005 sq. feet of facility area, and the widening of an existing publicly-accessible pedestrian course connecting North Road and Farrow Street.According to personnel, Cressey has committed to advancing the six-storey rental structure before the apartment tower. The development license application for the rental building is currently being processed and is expected to be given Council for approval
at the exact same time the rezoning application is all set for last adoption. A different advancement application for the condominium tower would then follow at a later date. < img src="// www.w3.org/2000/svg'%20viewBox='0%200%201418%20798'%3E%3C/svg%3E"width ="1418"height=" 798 "alt= ""/ >< img src ="// www.w3.org/2000/svg'%20viewBox='0%200%201420%20795'%3E%3C/svg%3E"width="1420"height="795" alt=""/ > Makings of the six-storey rental building set for 727 North Roadway.(Chris Dikeakos Architects, Cressey Advancement)In May 2024, Cressey spoke before Council voicing concerns about the City’s Renter Moving Policy and having to make payments before getting project approval, which drew a vexed response from Council.The matter was not directly dealt with in the recent report to council, however staff stated”the applicant offered settlement to renters who vacated prior to the fire in December 2024 “and”has devoted to right away offering payment to the remaining qualified renters that have actually been displaced due to the fire in line with the expectations
in the Renter Relocation Policy.”On Monday, Council briefly went over the project, and voiced some issue about what they thought to be a high number of studio units, however ultimately given initially, 2nd, and 3rd reading to the rezoning application and said they enjoyed that the job is moving forward after the fire.For the City, the job is expected to produce$7 million in advancement cost charges(DCCs)
, $6.4 million in density perk payments, $713,506 in voluntary community facility contributions( CACs ), and $470,000 in developer-funded facilities.