In late 2023, BC told cities that land close to rapid transit and major bus exchanges must be allowed to grow up: as much as 20 storeys beside a SkyTrain station, stepping down with distance. Almost overnight, thousands of single-family lots across Metro Vancouver and a few other cities fell inside a transit-oriented area. Owners started getting letters from developers, and neighbours started talking about assemblies. This page shows what the rules require on your lot, and gives you a way to judge whether an assembly offer is really better than selling the house.
What a transit-oriented area is
Bill 47, the Housing Statutes (Transit-Oriented Areas) Amendment Act, requires certain municipalities to designate transit-oriented areas (TOAs) around prescribed hubs:
- land within 800 metres of a rapid transit station, such as a SkyTrain station
- land within 400 metres of a bus exchange or West Coast Express station
Inside those areas, the Province sets minimum allowable densities and heights for residential development. Cities can't set off-street residential parking minimums there, apart from accessible parking.
Municipalities had to designate their TOAs by bylaw by June 30, 2024. The Province's own maps show the prescribed hubs, and each city's bylaw shows the exact catchment lines.
The density tables
| Metro Vancouver rapid transit (SkyTrain) | Minimum density | Minimum height |
|---|---|---|
| 200 m or less | 5.0 FAR | 20 storeys |
| 201 to 400 m | 4.0 FAR | 12 storeys |
| 401 to 800 m | 3.0 FAR | 8 storeys |
| Bus exchanges | 200 m or less | 201 to 400 m |
|---|---|---|
| Metro Vancouver bus exchanges and West Coast Express | 4.0 FAR, 12 storeys | 3.0 FAR, 8 storeys |
| Capital Region, Kelowna and similar communities | 3.5 FAR, 10 storeys | 2.5 FAR, 6 storeys |
| Other qualifying municipalities | 2.5 FAR, 6 storeys | 1.5 FAR, 4 storeys |
On a standard 33 by 122 ft lot (4,026 sq ft), 4.0 FAR means about 16,100 sq ft of floor area, and 5.0 FAR about 20,100 sq ft. For comparison, a house on the same lot might have 2,500 to 3,500 sq ft.
What "minimum allowable" really means
This is the most misunderstood part. The TOA rules don't automatically let you build a 12-storey building on your lot.
- A rezoning is usually still needed. In most cases, a developer still applies to rezone.
- But the city can't refuse on density or height alone. It can't turn the application down for having too much density or height, as long as the project stays within the provincial minimums.
- Everything else still applies. The city can still require good design, setbacks, tenant protections, amenity contributions and servicing.
- Some cities go further. A few have pre-zoned parts of their TOAs, or adopted streamlined TOA policies.
There's also a 2026 change worth knowing. After June 30, 2026, cities can no longer use density bonusing within the minimum allowable densities. That means they can't charge developers for density the Province already says must be allowed. Instead, they have to rely on amenity cost charges and inclusionary zoning. That shifts some costs in the developer's calculation, and so what developers can pay for land.
How developers value TOA land
Developers price redevelopment land per buildable square foot: the price divided by the floor area they expect to build. The number comes from their own residual land calculation. What finished units sell for, minus construction, fees, financing and margin, divided by floor area.
Turn that around and you get the most useful number on this page: your house's value per buildable square foot. A $1,850,000 house on a 4,026 sq ft lot in the 201 to 400 m ring (4.0 FAR) is already priced at about $115 per buildable sq ft.
- If developers near your station are paying more than that, an assembly could be worth more than selling as a house.
- If they're paying less, the house is worth more as a house, whatever the zoning allows.
For context, some Cambie Corridor land assemblies traded at more than $300 per buildable sq ft at the 2022 peak. In the weaker 2026 condo market, many suburban TOA sites are changing hands at a fraction of that, and pricing varies a great deal from one station to the next. The table in the calculator shows your lot's value across a range of land prices, so you can see where the crossover sits.
Why it usually takes an assembly
Buildings at these heights need bigger sites than a single city lot. Very roughly:
- a six-storey wood-frame building typically needs 12,000 sq ft or more of site
- a concrete tower often needs 20,000 to 30,000 sq ft or more
Setbacks, the tower floorplate, parking ramps if any, and servicing all take room. That usually means three to eight neighbouring lots sold together, which makes the assembly a group decision.
In practice, one or two holdouts can stall an assembly. Lots on corners or next to a lane can matter more than their size suggests. A partial assembly usually sells for less per buildable sq ft than a complete one. The calculator's assembly selector shows the combined site size and a rough sense of what fits.
The 2026 market for TOA land
Land demand follows the market for what gets built on it, and in 2026 that market is soft. Metro Vancouver presale releases have fallen to a small fraction of their 2021 levels. Condo prices are below their peak, and many developers are carrying unsold completed units.
The most active buyers for TOA land are purpose-built rental developers. They're supported by federal GST relief on new rental buildings, and by CMHC financing programs such as MLI Select.
For owners, that means two things:
- Assembly offers are fewer and more selective than the headlines of 2023 and 2024 suggested.
- Offers often come with long conditions to allow for rezoning, sometimes 12 to 24 months, with deposits released in stages.
A strong offer is one with a price that holds up against your house value and conditions you can live with.
If you own a house in a TOA
- Get two numbers. Know what the house would sell for as a house, and the per-buildable-foot price recent assemblies near your station achieved. Our home value estimator is a quick first check on the first number.
- Talk to your neighbours before signing anything. Assemblies are worth more whole.
- Read the conditions. Look at subject periods, deposit timing, rent-back terms if you want to stay during rezoning, and what happens if the rezoning fails.
- Count the costs of the sale itself. Commission (sometimes paid by the buyer in assemblies), legal fees, the mortgage penalty and moving all apply. Run the net proceeds calculator.
- If the property is rented, tenancy rules apply. Tenants in buildings being redeveloped have protections under provincial law and many city policies.
- Know the tax position. The gain on a principal residence stays tax-free, even at an assembly price.
If you're buying a house in a TOA
A house in a TOA may carry some option value on the land, and it may be priced that way.
It can also mean years of construction nearby. The neighbouring lots could become a six-storey rental building or a tower. If you're buying to live there long term, check the city's TOA maps and any active rezoning applications on the block.
If you're buying partly for the land, make sure the price per buildable square foot still makes sense on today's land values, not 2022's.
Mistakes we see with TOA properties
Assuming the TOA rules mean you can build a tower on your lot. They set a minimum the city must allow. They're not a building permit, and most sites need an assembly and a rezoning.
Multiplying 2022 land prices by today's density. Land prices per buildable sq ft have fallen in most markets since then.
Signing a long conditional offer without understanding the deposit and termination terms.
Holding out for a number the market doesn't support. The assembly may go around you.
Forgetting that the house has value as a house. If developers are paying less per buildable sq ft than your house already represents, a regular sale is the better sale.
Questions people ask us
What is a transit-oriented area in BC?
An area within 800 metres of a prescribed rapid transit station, or within 400 metres of a prescribed bus exchange or West Coast Express station. Inside it, municipalities must allow at least the Province's minimum density and height for residential development, and can't set residential parking minimums.
How tall can buildings be near a SkyTrain station?
The minimum cities must allow is 20 storeys and 5.0 FAR within 200 metres, 12 storeys and 4.0 FAR from 201 to 400 metres, and 8 storeys and 3.0 FAR from 401 to 800 metres. Cities can allow more.
Does TOA zoning mean I can build an apartment building on my lot?
Not by itself. In most cases a rezoning is still needed, and a single lot is usually too small for buildings at these heights. What changes is that the city can't refuse a rezoning just because the density or height is within the provincial minimums.
Is my house worth more because it's in a TOA?
Only if developers are paying more per buildable square foot than your house already represents. Divide your house value by your lot area times the allowed FAR. If recent land sales near your station are above that, an assembly could be worth more. If not, the house is worth more as a house.
What does price per buildable square foot mean?
It's the land price divided by the floor area that can be built on it. At 4.0 FAR, a 4,026 sq ft lot has about 16,100 buildable sq ft, so $110 per buildable sq ft would value the lot at about $1.77 million.
Do buildings in TOAs need parking?
Municipalities can't require residential off-street parking in TOAs, apart from things like accessible parking. Developers may still build some parking based on what buyers and renters want.
What changed for TOAs in 2026?
After June 30, 2026, municipalities can't use density bonusing within the minimum allowable densities. They're expected to use amenity cost charges and inclusionary zoning instead. The TOA density minimums themselves are unchanged.
778-918-5990
Got a letter from a developer?
Dan can compare the offer with recent land sales near your station and with what your home would sell for as a house. If an assembly makes sense, he can help coordinate with neighbours and structure the conditions. Your calculator inputs come along with the message.
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