The City of Burnaby has sold a parcel of land at 4394 Beresford Street to a developer who is proposing a 38-storey high-rise apartment building for the site.
The entire site is comprised of seven lots, according to a report from the city's director of planning and building, Basil Luksun.
The development includes plans to restore the Daniel and Amelia Mowat Residence, built in 1913, and move it to McKay Avenue. The house would be used for rental housing.
The development would also include a four-storey residential podium on Silver Avenue and a four-storey commercial podium on Beresford Street.
The site falls within the city's new zoning bylaw category, which adds the suffix 's' to residential districts within the city's four town centres, to allow for higher density in those neighbourhoods.
The category, which was added by council last December, includes a density bonus plan.
Burnaby council passed a motion to allow the developer to contribute $6.2 million cash towards community amenities in lieu of space, in exchange for 75,000 square feet of additional density under the new zoning.
The development, proposed by Intracorp, would be in an RM5s multiple-family zoning district.
The rezoning proposal is going to public hearing on August 30 at 7 p.m.
