Vancouver-based developers OpenForm Properties and Alabaster Houses are partnering on a two-tower task in the Metrotown neighbourhood of Burnaby, according to a rezoning application set to be thought about by Council this week.The subject website of the proposal is 6470 and 6508 Silver Opportunity, which is located straight throughout the street from Maywood Park and half a block away from Metrotown Station.Each parcel is currently inhabited by an aging low-rise rental building. BC Evaluation values 6470 Silver Opportunity at $11,566,000 and 6508 Silver Avenue at $12,321,000, for an overall assessed worth of $23,887,000 dated to July 1, 2025. The residential or commercial properties are currently held under 5088 Investments Ltd.OpenForm Properties– the realty arm of OpenRoad Automobile Group– acquired 6470 Silver Opportunity for$ 22,606,249 and 6508 Silver Avenue for$22,393,751 in early-2022 in a transaction brokered by Goodman Commercial and had proposed a 33-storey condominium tower and a six-storey rental structure. Ever since, however, they have formed a joint endeavor with Alabaster Residences and modified the proposal. 6470 and 6508 Silver Avenue in Burnaby
.(Goodman Commercial) OpenForm and Alabaster are now proposing a 32-storey tower and a 28-storey tower– each inclusive of a nine-storey podium– with a total of 784 domestic units.The South Tower (6508 Silver Avenue)would be the taller of the two
at 32 storeys and home 420 units split in between 40 studio systems, 200 one-bedroom systems, 149 two-bedroom systems, and 31 three-bedroom units.The North Tower( 6470 Silver Opportunity )would rise 28 floors and home 364 systems divided
between 112 studio systems, 97 one-bedroom units, 128 two-bedroom systems, and 27 three-bedroom units.Of the 784 residential units, 83 will be non-market rentals changing the existing systems on the site. The designers could pursue strata or leasing for the staying units, but City personnel said in a preparation report that the developers have shown that they intend to pursue strata for the South Tower and rental for the North Tower. Renderings of the proposal for 6470-6508 Silver Avenue from along Silver Opportunity.(OpenForm Properties, Alabaster Residences, Arcadis )The task would be constructed in two phases, with Phase One consisting of the 28-storey North Tower and a pedestrian mews to be located in between the 2 structures. Stage 2 would then provide the 32-storey South Tower. The replacement rental units will be housed in the North Tower and delivered in Phase One.The proposal does not include any business space, which would’ve granted the designers some additional density, but does
include around 13,108 sq. ft of indoor feature space in addition to 561 lorry parking areas and 1,637 bicycle parking stalls in a three-level underground parkade.”The website is located throughout the street from Maywood Park, a significant feature in the neighborhood, “said personnel in the planning report.
“The proposition includes a 6 m broad pedestrian-oriented area linkage, connecting from the rear of the lot to Silver Opportunity in between the two structures, in accordance with the Metrotown Downtown Strategy, linking to the park to the west.” Makings of the proposal for 6470-6508 Silver Avenue from along Silver Opportunity. (OpenForm Residence, Alabaster Homes, Arcadis)
Under the City of Burnaby’s new height-based development framework, the base height allowed for the subject website is 30 storeys. Additional storeys are allowed through community benefit bonusing, but the developers are opting simply for the base height– with height averaging in between the 2 towers as permitted under City policy.As part of its transport need management package, the developers have consented to offer a transit subsidy of$2,850 per unit, automobile share credits of $1,500 per system, 5 vehicle share parking spaces on-site, and bike maintenance facilities.OpenForm Residences and Alabaster Houses ‘proposal is up for a very first and second reading on Tuesday, June 23, along with Peterson’s three-building proposal nearby at 6645-6707 Dow Avenue.Elsewhere in Burnaby, OpenForm Characteristic had actually previously received approval for a 40-storey tower and six-storey building at 6958-6984 Kingsway and 7243 Greenford Opportunity in the Edmonds area, which is occupied by an OpenRoad Honda dealer, but just recently submitted a brand-new rezoning application decreasing the proposition to a 27-storey tower and six-storey structure.