PROPERTY OVERVIEW
Coquitlam Square is a prime commercial property comprising one legal lot, Lot 148. The property spans 1.82 acres and has two civic addresses: 2918 & 2922 Glen Drive, Coquitlam. It features a square-shaped parcel improved with two commercial buildings offering a total of 37,500 square feet of leasable space, accommodating 28 retail and office tenancies.
Strategically positioned in the Coquitlam City Centre Area, this property benefits from being in the most established and densified district of Coquitlam. With ongoing urban growth and infrastructure improvements, it presents a strong investment opportunity.
CURRENT ZONING & DEVELOPMENT OUTLOOK
The property is currently designated as General Commercial (C-2) under the Official Community Plan (OCP). This zoning accommodates shopping centers and lower-density developments. However, with the rapid expansion of transit infrastructure, including the Evergreen Line and newly developed rapid transit stations, the area’s land use designation has evolved to support higher mixed-use densities.
Recent legislative changes by the Province of British Columbia, introduced in late 2023, have further reinforced the area’s suitability for increased density. Coquitlam Square is situated within the City Centre Commercial Zone, which supports high-rise development potential. With an anticipated Floor Space Ratio (FSR) of 5.0 to 6.0 FAR, the property presents significant redevelopment opportunities for high-density residential and mixed-use projects.
Additionally, the Coquitlam City Centre Area Plan (CCAP) continues to guide development, emphasizing a vibrant, transit-oriented downtown core. These zoning enhancements make Coquitlam Square an attractive opportunity for developers seeking to maximize density in one of Coquitlam’s most strategic locations.
EXCELLENT ACCESSIBILITY
- Directly across the street from Coquitlam Centre and within walking distance of Lincoln Station on the Evergreen SkyTrain Line.
- Seamless rapid transit connections throughout Metro Vancouver, enhancing accessibility for businesses and residents.
- Convenient access to major transportation routes, including Lougheed Highway, Barnett Highway, and the Trans-Canada Highway.
MAJOR DEVELOPMENT AREA
- Coquitlam Town Centre has experienced substantial growth, with the population increasing by over 20% in the past five years and continued expansion anticipated in the coming years.
- The Town Centre area is evolving into Metro Vancouver’s next high-density commercial and residential hub, attracting significant investment and infrastructure improvements.
- With the ongoing development surrounding the Evergreen SkyTrain Line, Coquitlam Town Centre is expected to see a surge in high-rise, mixed-use projects, reinforcing its status as a key urban core in the region.
