The first development to fall under Coquitlam's new Transit-Oriented Development Strategy (TDS) will generate big bucks for the city.
On Monday, Coquitlam council gave first reading to change the official community plan and zoning for 514-554 Foster Ave. and 636-640 Aspen St. in Burquitlam.
As part of its plan, Intracorp Developments Ltd. has assembled 18 single-family lots south of Foster Avenue to build a five-storey complex with 99 apartments and 16 three-storey townhouse buildings.
In return - if the proposal is approved by council - the city would gain more than $1 million in parkland and community amenity contributions (CAC).
CAC were brought in last year in Burquitlam to pay for the massive growth expected with the Evergreen Line, scheduled to be running by the summer of 2016.
Intracorp is required to pay CAC of $3 per square foot as its proposed development is within the so-called "shoulder area" of the Burquitlam station - that is, within a 10-minute walk to the Evergreen Line stop. As a result, its contribution - the first time the city will be collecting a CAC - would amount to around $600,000, which is anticipated to be used for a future recreational facility in Burquitlam (see below).
Raul Allueva, Coquitlam's manager of development services, told council the city's agreement with Intracorp will include expanding the adjoining Burquitlam Community Gardens, a city-owned property on Ebert Avenue that has a waiting list for allotments. Intracorp will be dedicating 1,076 sq. ft. of its property as well as buying a surplus portion of unopened lane for the garden expansion, Allueva said.
Two years ago, the Vancouver company was one of four developers to come before city council to show its preliminary development plans for Burquitlam. But as the 2002 Burquitlam Neighbourhood Plan had yet to be updated, those four bids were put on hold as they were consider "inconsistent" with the outdated visioning document.
Council later instructed city staff to proceed with the four applications while the TDS criteria was being ironed out (an update of the Burquitlam Lougheed Neighbourhood Plan is set to start this fall).
Since last July, when council adopted the TDS - a high-level document focusing on density, design, employment and amenities around rapid-transit stations - Allueva said a number of policies have pushed forward to get TDS zones in Burquitlam and City Centre ready for the rapid-transit line. Among them:
a tightening of parking regulations;
zoning, road, utility and development cost charge updates;
and guidelines to make main streets wider for pedestrians to get to public transit, and slower for drivers.
Still, the city has yet to renew its policy on rental replacement as part of the Affordable Housing Strategy; Burquitlam has a large number of rental tenants, many of them refugees.
Allueva said developers and investors have been "waiting patiently" as the city rolls out its TDS framework. "The policy landscape is evolving," he said. "The city wants to add density but also address the benefits and needs."
A public hearing on the Intracorp bid is expected to be held next month.
The president and CEO of the YMCA of Greater Vancouver says the charitable organization is poised to do business in Coquitlam.
On Monday, Stephen Butz told council-in-committee the Y had wrapped up its market survey of Coquitlam and is making plans to proceed with the city to build a 50,000 sq. ft. community centre with a pool and recreational and childcare facilities.
Although he didn't state where it would be located, YMCA has said in the past it would consider Burquitlam and Burke Mountain.
Kurt Houlden, Coquitlam's acting general manager of parks, said the financial details of the partnership will be before city council this fall as part of the 2014 budget deliberations.
Mayor Richard Stewart said council recently toured YMCA facilities in Vancouver and Surrey and was impressed with what it had to offer.
