A 242-unit condo complex being proposed for the old Barnet Hotel site will have more rental units and less commercial space than when Port Moody council first heard the project’s pitch last June.
Langley-based developer, Marcon, is proposing four of the 24 rental units in the complex, that’s to be comprised of two six-storey buildings at the corner of St. Johns and Albert streets, will be made available at below-market rates in perpetuity.
Another 20 units will be market rental for 20 years — that’s two fewer units than initially proposed.
As well, commercial space on the ground floor of the project’s northeast corner will be reduced from 8,000 to 7,329 sq. ft. to accommodate changes in grading along the site.
But, in a report to be presented to council on Tuesday (June 15), Port Moody’s senior development planner Kevin Jones, said the development will present a more stylish face along St. Johns Street as a standalone public art piece has been eliminated in favour of a “more significant” installation — with a budget of about $200,000 — on the building’s facade.
Jones said the company is also offering to dedicate more than 13,000 sq. ft. of restored riparian setback along South Schoolhouse Creek that runs through the southeast portion of the property to the city as a park.
He also noted the building’s design has been altered so above-round elements like patios and balconies no longer infringe upon a portion of that protected area — only a piece of the underground parkade will jut into a stretch of the site’s riparian transition area where some features like landscaping or construction-related activities are permitted.
The property the development will occupy has been vacant and overgrown since the Barnet Hotel was demolished more than a decade ago.
Last December, Port Moody council approved construction of a six-storey, 162-unit complex by Bold Developments where Clarke Road meets the Barnet Highway and St. Johns Street just west of the Barnet Hotel property.
If council approves first and second reading of the amendments to zoning bylaws that would allow the project to proceed, it will be referred to a public hearing later this year.