The City of Coquitlam is putting forward two significant proposals close to the Lougheed SkyTrain station — as land owner and applicant.
On Monday, council unanimously gave first reading to the municipality’s rezoning bids, without discussion or comment from staff, that, if approved following the Feb. 28 public hearing, would see a density swap between the sites.
According to a report, the city wants to get the land at 560 Sydney Ave. ready for a high-rise for 289 market condos and provide 22 new childcare spaces to meet the goals in the city’s recently adopted Child Care Partnership Strategy.
The property, which is currently occupied by the vacant Burquitlam Lions Care Centre, returned to the municipality in 2016 after Fraser Health pulled its funding for the complex. That centre will be razed by the future owner, the report notes, and will generate about $3.4 million in development cost charges (DCC) for the city.
In exchange, the tower’s rental component — at nearly 59,000 sq. ft. — will move to an assembled site across the street, at 594, 596, 600 and 602 Sydney Ave., for purpose-built seniors’ housing to be constructed and run by a provider.
The city will lease the site to the housing provider, which is expected to build about 89 independent living units in a medium-size building.
Currently, three of the city-owned lots are empty, while the home at 602 Sydney Ave. is slated for demolition. If OK’d following the public hearing, it would bring in $1 million in DCC, with the market component moving to the high-rise.
It’s not the first density swap for Coquitlam.
Last summer, Marcon Elmwood transferred the rental portion for its 38-storey tower at Como Lake Avenue and Clarke Road to a building it is constructing three blocks away, behind the Burquitlam YMCA, called Marcon Dogwood.
Located at 631 and 633 Smith Ave. and 708, 712 and 716 Dogwood St., Marcon Dogwood will be six storeys with 126 rental units.
MORE HOMES GOING UP
Meanwhile, on Monday following a public hearing, council unanimously gave second and third rezoning readings to the following bids for Burquitlam:
- 724, 726 and 728 Lea Ave.: Domus Projects plans stacked townhouses with 23 units, generating $317,000 in DCC and $68,000 in Community Amenity Contributions (CAC)
- 704, 706 and 710 Grover Ave. and 701, 705 and 709 Regan Ave.: Kadium Regan Development is proposing 50 townhouse units in five buildings over a shared parkade, bringing in $637,000 in DCC and $128,000 in CAC
- 724 and 736/738 Como Lake Ave. and 750/752, 754/756 and 758/706 Robinson St.: Sol Adera Projects plans a total of 201 units in a six-storey market condo building and a six-storey market rental building, collecting $2.2 million in DCC plus $401,000 in CAC
In addition, Coquitlam council on Monday gave fourth and final reading for Qualex Homes (Regan) to build 116 market condos in two six- and seven-storey buildings at 571 Emerson St. and 604, 606, 608, 612 and 616 Regan Ave.
The development, south of Como Lake Avenue and east of the Burquitlam mall, will result in $1.2 million in DCC, $238,500 in CAC and $220,000 in payments for transit-development monitoring and parking-in-lieu fees.