What Happened

Peterson Group has submitted a revised rezoning application for a three-building development at 6645-6707 Dow Avenue in Burnaby’s Metrotown neighbourhood. The updated proposal increases the total unit count to 1,065 while reducing the height of the two primary towers from the initial 49 and 41 storeys to 45 and 35 storeys, respectively. The site, which currently holds five low-rise rental buildings constructed between the late 1950s and early 1960s, will be redeveloped into a mixed-use complex featuring 7,568 square feet of office space and 8,685 square feet of retail. The plan includes a six-storey building containing 112 replacement rental units and 20 market rental units to address tenant displacement. The project is scheduled for discussion at next week’s council meeting.

Why It Matters

The revision signals a strategic adjustment in density for one of Burnaby’s most active redevelopment corridors. By increasing the unit count while lowering the towers, Peterson aims to balance market feasibility with city planning expectations for pedestrian-scale engagement. The inclusion of 132 rental units in the low-rise building is critical for maintaining housing stock in an area dominated by strata tenure. This project sits directly across from the Metropolis at Metrotown shopping centre, a key anchor for the neighbourhood’s ongoing transformation. The outcome will influence how high-density infill is received near SkyTrain stations in the region.

Local Vancouver / Burnaby Context

Metrotown is a major redevelopment area with ongoing construction and multiple high-rise projects. The neighbourhood is focused on intensification around the SkyTrain Metrotown Station. Peterson is an active developer in the Burnaby and Vancouver region with multiple projects including Blake Village and a two-tower project on SE Marine Drive. The site is located near Beresford Street and Central Boulevard. The City’s Tenant Assistance Policy (TAP) obligations have been fulfilled by Peterson, indicating tenant relocation or assistance considerations. The project has been idle for over six years before the recent rezoning application by Peterson. The Metropolis at Metrotown master plan is phased over decades in part due to the well-performing mall. The subject properties are each improved with an older two to three storey rental apartment building which were constructed between the years of 1955 and 1964. In total, there are 112 existing rental units across the five sites proposed for redevelopment. The parcels have a combined assessed value of $57,452,900 as of July 1, 2025.

Market Impact

The increase to 1,065 units adds significant supply to the Burnaby condo market. The reduction in tower height may affect views and density perceptions for nearby residents. The inclusion of rental units provides a rare option in a predominantly strata area. The project's proximity to the SkyTrain station supports transit-oriented development goals. The mixed-use nature of the project will activate the ground floor and support local retail. The project's feasibility will depend on construction costs and pre-sale rates. The outcome will influence developer strategies for similar sites in the region.

Investor / Buyer Takeaway

- Buyers should monitor the final unit mix, particularly the number of two-bedroom units in the 45-storey tower.

- Investors should note the tenure of the 35-storey tower is not finalized but intended as rental.

- Sellers of existing homes in the immediate vicinity may see value shifts based on the project's approval.

- Renters should watch for the 132 replacement units to ensure they are retained in the area.

- Watch the next week’s council meeting for any conditions attached to the rezoning.

Builder / Developer Perspective

Peterson has acquired the land and submitted a new rezoning application in 2023 after acquiring the land. The revised application reduces building heights but increases total units to 1,065. The tenure of the two towers is not finalized; Peterson intends strata tenure for the taller tower and rental tenure for the other. The project includes 7,568 sq. ft of office space and 8,685 sq. ft of retail space in the 45-storey tower. The project will have 888 vehicle parking spaces and 2,130 bicycle stalls in a five-level underground parkade. The design emphasizes pedestrian experience with recessed entries, curved building edges, generous setbacks, and a pedestrian connector east-west through the site. Retail spaces are set back to engage with the public realm; ground-level residential units have landscaped patios for privacy and community oversight. The towers feature double-height glazed entries, generous balconies, and sky lounge amenities at the top. The development aims to foster vibrant urban livability and an activated public realm. The site includes a vehicular link between towers supporting drop-off zones, loading areas, and underground parking access. The City planning report notes a pedestrian-oriented 'neighbourhood linkage' and a dedicated pedestrian zone along the lane open to the public.

Risk Factors

- The tenure of the two high-rise towers has yet to be finalized.

- The project has been idle for over six years before the recent rezoning application by Peterson.

- Construction costs may impact the feasibility of the increased unit count.

- Market conditions for pre-sales could affect the project's timeline.

- Council may impose additional conditions during the review process.

BurnabyHouse Insight

Peterson’s revision in Metrotown reflects a broader trend of developers adjusting tower heights to secure council support while maximizing density through unit count. The focus on pedestrian connectivity and ground-floor activation aligns with city planning goals for vibrant, mixed-use neighbourhoods. The retention of rental units in a low-rise building is a positive signal for housing diversity in a strata-heavy area. The project’s proximity to the SkyTrain station makes it a key test case for transit-oriented development in Burnaby. The outcome will influence how other developers approach similar sites in the region.