A south Coquitlam neighbourhood in between two highways and close to rapid transit may soon have more affordable homes.
Tonight, Monday, Sept. 25, city council is expected to give first reading to a rezoning bid from Mosaic Avenue Developments to build 332 market condos.
The company is applying to the municipality to consolidate 15 lots along Dunlop and Guilby streets and Grayson and Sunset avenues to construct four six-storey residential blocks on two sites, totalling 2.58 acres.
Currently, the neighbourhood is primarily made up of single-family homes; however, there are three active development plans underway that will significantly increase density in the area:
- four six-storey apartment buildings with 422 units (at third bylaw reading stage)
- four six-storey apartment buildings with 327 units (at pre-council stage)
- a mixed-use development with three towers for 658 units (at pre-council stage)
If council grants first reading tonight for rezoning, the Mosaic bid would advance to a hearing for public comment on Monday, Oct. 16.
According to a report from Chris McBeath, Coquitlam's acting director of development services, the Mosaic application would increase affordable housing in the city — a move required under the Regional Growth Strategy set by Metro Vancouver.
The two sites would be split by Grayson Avenue, of which the city plans to sell a 753 sq. ft. portion to Mosaic. The road allowance is surplus land for the city and, if approved, would be consolidated for the development, he wrote in his report to council.
A total of 141 new trees are proposed to be planted on site while most parking stalls in the shared parkade would have infrastructure for a Level 2 charger for electric vehicles.
If OK'd following the public hearing, the City of Coquitlam would stand to gain about:
- $7.2 million in development cost charges
- $1.1 million in community amenity contributions
- $286,000 for the road sale
- $7,000 for the Transportation Demand Management Monitoring Fund
Speak up! The public hearing for the Mosaic Avenue proposal is on Monday, Oct. 16 at 7 p.m. To register, you can visit the city's website.