Location: 552 Clarke Road, Coquitlam
Developer: Morguard REIT (TSX: MRT.UN)
Architect: James KM Cheng Architects
After teasing plans to redevelop the site for several years, Morguard REIT has officially submitted a rezoning application for Burquitlam Plaza in Coquitlam.
Located between Como Lake Avenue and Smith Avenue in the namesake Burquitlam neighbourhood of Coquitlam, one block east of the boundary with Burnaby, Burquitlam Plaza is a 7.7-acre retail complex located at 552 Clarke Road that’s home to the Millennium Line SkyTrain’s Burquitlam Station, making it a Tier 1 transit-oriented area (TOA) under provincial legislation.
Burquitlam Plaza was originally constructed in 1960, was renovated in 1980, and its 68,500 sq. ft of space is now anchored by a Big Box Outlet Store, Shoppers Drug Mart, and Dollarama. The Safeway to the north is not included, but a small 2,814 sq. ft parcel (566 Emerson Street) along Emerson Street will be included once acquired from the City of Coquitlam.
The Burquitlam Plaza property is 100% owned by Morguard REIT, an affiliate of Mississauga-based Morguard Corporation (TSX: MRC), who holds a controlling interest in Morguard REIT and also Morguard North American Residential REIT (TSX: MRG.UN). The property is held under Burquitlam Building Limited.
For the site, Morguard is proposing six mixed-use towers between 29 and 53 storeys with a total of 2,212 residential units of various tenures, 84,000 sq. ft of commercial space (more than what currently exists on the site), and a 116-space childcare facility. The project has a total proposed density of 5.5 FSR and would unfold across two overarching phases that would each have three sub-phases.
Currently, a street called Hobbis Way ends on the western side of Clarke Road and leads into an access street for Burquitlam Plaza. This street would be extended through the site to Emerson Street, essentially bisecting the site, with the northern half being the focus of Phase One and the southern half being the focus of Phase Two.
Phase One would include a 29-storey Tower One at the northern-most corner adjacent to the Safeway, a 43-storey Tower Two towards the south along Hobbis Way, and a 29-storey Tower Three towards the east along Emerson Street. The extension of Hobbis Way would be completed as part of Phase 1A.
Phase Two would then see a 53-storey Tower Four on the south side of Hobbis Way, a 33-storey Tower Five at the southwest corner of the site where Clarke Road intersects with Smith Avenue, and a 33-storey Tower Six at the intersection of Smith Avenue and Emerson Street.
Unit counts and suite mixes are not included in the application, but a City staff report going to Council today states that the residential component will include a mix of strata, market rental, and below-market or non-market rental.
The buildings will each have some commercial space. Office space is currently not included, but staff say Morguard has indicated that office space could potentially be provided if there is demand. The amount of proposed commercial space could generate 210 jobs, according to staff.
The childcare facility is set to be delivered in Phase 1B and Morguard would deliver the remaining childcare space in Phase Two or make a cash-in-lieu payment if there is a shortfall. The current proposal does not include it, but staff say they will be working with Morguard to explore the possibility of including a new libray for the Burquitlam neighbourhood in a later phase.
“The Burquitlam Plaza development will provide a much greater degree of connectivity for the surrounding community with the transformation of the existing shopping centre and parking lots to become a neighbourhood of vibrant streets and plazas, creating comfortable and interesting routes for people who walk or cycle to connect to the transit station,” said Morguard on its project website.
At the moment, Morguard has only submitted a rezoning application, which is set to be considered by Coquitlam City Council tonight. Staff say Morguard has committed to submitting a complete development application within 24 months, so some aspects of the project still need to be finalized or may be revised.
Due to the site being a Tier 1 TOA, there is no minimum parking requirements, but Morguard’s proposal will still include parking. The current estimate is 1,977 vehicle parking spaces and 2,850 bicycle parking spaces, but specifics will be confirmed with each development application.
From the project, the City is expecting to generate $54 million in development cost charges (DCCs), $64.2 million in density bonus payments, $4.9 million from “voluntary” community amenity contributions (CACs), $7.5 million in developer-funded infrastructure, and a cash-in-lieu of parkland payment.
“Burquitlam Plaza will become a lively and attractive neighbourhood hub at the nexus between Burnaby and Coquitlam, featuring a diversity of housing options supported by local services and amenities; well-connected through a human-scaled & integrated public realm,” said Morguard. “The redevelopment of Burquitlam Plaza will permit the site to realize its potential as a Transit-Oriented hub location.”
[Editor’s Note: This article was updated shortly after publication to correct an error regarding ownership of Burquitlam Plaza. The property is owned by Morguard REIT, not Morguard Corporation.]
Great detail! According to Morguard REIT's Annual Information Form it held 100% of Burquitlam Plaza at 12/31/25 and there's been no report of a transfer to Morguard Corp.