The market downturn is forcing developers big and small to adapt and revise their projects, and the latest example is Vancouver-based OpenForm Properties and their project set for the Edmonds neighbourhood of Burnaby.
OpenForm is the residential real estate division of OpenRoad Auto Group, which operated what was formerly the OpenRoad Honda Burnaby car dealership before the dealership relocated to 5723 Marine Way in Burnaby in 2023, making way for the site to be redeveloped.
The site is located at the intersection of Kingsway and Greenford Avenue, near the intersection of Kingsway and Griffiths Drive. The site previously consisted of five legal parcels — 6958 Kingsway, 6984 Kingsway, 7243 Greenford Avenue, 6957 Beresford Street, and 6961 Beresford Street — that have since been consolidated into 7211 Greenford Avenue.
BC Assessment values 7211 Greenford Avenue at $20,226,000 and the property is beneficially owned by OpenForm Properties through OF (Kingsway) Master Limited Partnership.
7211 Greenford Avenue in Burnaby. (Arcadis, OpenForm Properties)
OpenForm first submitted a rezoning application in early-2021 with a proposal for a 40-storey tower with 346 strata units and a six-storey building with 69 rental units —25% of which would be provided at below-market rates — plus 11 townhouses. The proposal received third reading in March 2024 before OpenForm revised the proposal in Summer 2024, changing the suite mix but not the heights. That application received final approval from Council in December 2024.
This time around, the developer has made much more substantial changes. The proposal is now for a 27-storey market and non-market mixed-use tower with 276 units and a six-storey building with 142 units, meaning the maximum height is being reduced significantly while the amount of units remains generally the same.
Suite mixes for the individual buildings were not provided, but the overall project’s 418 units consists of 44 studio units, 133 one-bedroom units, 194 two-bedroom units, and 47 three-bedroom units. The overall project will include 308 vehicle parking spaces and 836 bicycle spaces, plus some additional parking for the retail space.
Notably, the placement of the buildings has now been flipped. Previously, the low-rise building was fronting Kingsway, while the new proposal sees the high-rise tower front Kingsway, with two levels of retail space. The high-rise is expected to proceed as Phase One and the low-rise as Phase Two.
The phasing and overview of the proposal for 7211 Greenford Avenue. (Arcadis, OpenForm Properties)
Renderings of the proposal for 7211 Greenford Avenue in Burnaby. (Arcadis, OpenForm Properties)
Although the tenures of the residential units are not required to be finalized until prior to issuance of the building permit, City staff said in a rezoning report that “the applicant has expressed a desire to pursue a fully market rental project.” As a result of a time-limited policy change the City approved last month, the amount of non-market inclusionary rental units will be determined by the chosen tenure and timeline.
“On June 9, 2026, Council approved time-limited amendments to Stream 2 for eligible pre-construction and under-construction developments,” said staff, referring to the Rental Use Zoning Policy (RUZP). “For eligible pre-construction projects, those amendments allow the inclusionary rental requirement to be calculated from the strata component only, excluding units achieved through offset density, and apply Burnaby-wide CMHC median market rents, provided the project receives Building Permit issuance by June 30, 2027 and commences construction by December 31, 2027.”
This means that if OpenForm proceeds with a fully market rental project as it has indicated and meets the deadlines, there would be no inclusionary rental requirement. According to the City, if OpenForm instead chooses to include strata units or doesn’t meet the aforementioned deadlines, the project would have a maximum inclusionary rental requirement of 28 units provided at 20% below CMHC median market rents for the Edmonds neighbourhood.
Renderings of the low-rise building planned for 7211 Greenford Avenue in Burnaby. (Arcadis, OpenForm Properties)
City staff say that OpenForm has previously made its development cost charges (DCCs) payment under the previous approved application for 428 units, so they now only have to pay DCCs for the net new commercial space. Under the City’s amenity cost charges (ACCs) program, applications are granted in-stream protection if they have even a partial building permit in-stream.
Staff say that OpenForm has an existing precursor building permit for this project and intends to proceed with a partial building permit that allows for site excavation prior to adoption of the revised rezoning application. They also said that “Should the partial permit be issued prior to adoption as planned, then ACCs would not be imposed on up to 428 units or previously approved commercial floor area within the amended development proposal,” meaning ACCs would only apply to the net new commercial area, as there are no net new residential units.
OpenForm also has a density bonus obligation tied to the previous proposal, which is still accruing interest, and staff are recommending the City cease invoicing density bonus-related interest upon granting the new revised application second reading.
“All interest accumulated up until and including the date of Second Reading would still be due and payable to the City, with payment required prior to Third Reading of the subject rezoning,” said staff. “Should the applicant change course and not proceed with the subject application, or if Council does not grant Final Adoption of the Rezoning Bylaw on or before December 09, 2026, all accrued and non-invoiced density bonus related interest would become due following December 09, 2026, with the normal course of interest collection resuming from that date, until the full principal payment is required.”
Burnaby City Council is set to grant first and second reading for the revised rezoning application for 7211 Greenford Avenue on July 28.
