A large swath of Coquitlam land near the Port Moody border will soon have two new industrial buildings.
Last Monday (July 31), city council unanimously OK'd a development permit for PC Urban to construct 33 strata units with loading bays at 2660 Barnet Hwy.
The site was once used by Alumet Manufacturing, which had a blue-coloured warehouse.
In May 2022, PC Urban and Nicola Wealth Real Estate bought the 3.5-acre parcel for $24 million; at the time, BC Assessment valued the property at $17.6 million.
According to the company's website, IntraUrban Eagle Ridge will be made up of two rectangular-shaped buildings, totalling more than 100,000 sq. ft. of combined gross floor area in the City Centre neighbourhood.
It's expected the $72-million development will generate up to 120 jobs, according to a report from Chris McBeath, Coquitlam's acting director of development services, and be ready by late 2024.
It will also bring in about $274,000 for the city in development cost charges (DCC).
PC Urban is known for its commercial and industrial IntraUrban ventures in Metro Vancouver, southern Vancouver Island and the Okanagan.
Its first IntraUrban business park was at 8811 Laurel St. in Vancouver.
It also built Brentwood, at 5495 Regent St., near Brentwood Mall in Burnaby; Crossroads at Highway 10 in Surrey; and Rivershore, at 11111 Twigg Pl. in Richmond.
McBeath said the project is needed as only 10 per cent of Coquitlam is designated as industrial.
"Strategic densification of industrial lands, as proposed with this application, is important for the city and the region as we look to grow and increase employment yield on those lands," McBeath wrote.
City council approved the development permit without comment.