You read it here first.https://www.canadianvaluestocks.com/madison-pacific-properties/ I think he is conservative. The Vancouver proper industrial, Mount Pleasant and East Van have been getting 3 times FSR and trade for $1000 a foot (just land) The City has been granting 6 times FSR on some projects (ie twice) I will leave it up to you to look up the square footage.
The Coquitlam project is 1400 units, and Silverdale should earn 200k per doorstep over the course of the devlopment. (700 million)