Port Coquitlam will hold a special meeting tomorrow (Aug. 15) to ensure that a long-awaited downtown condo development gets to the next stage.
Quarry Rock Developments has applied for rezoning to add 17 more units — for a total of 80 units — in the residential and commercial building at 2245 McAllister Ave.
On July 25, council passed second reading on a rezoning to permit the higher density — plus less parking — and a public hearing and third reading are now required to move the project forward.
Pre-sales, developer financing
But rather than wait until the fall, council is having the special meeting now to avoid unnecessary delays.
"Completing the re-zoning is necessary to support revised building permits, developer financing and pre-sales associated with the 17 new units," said Bruce Irvine, the city's director of development services, in an email to the Tri-City News.
Irvine said it's not unusual to hold special meetings when an important project is up for discussion.
"Consistent with similar special meetings held in August 2022 and December 2022, the City of Port Coquitlam holds special council meetings in order to support the timely review of residential development proposals, which align with the city’s goal and contribute to the needed housing supply."
Parking, housing trade-off
Quarry Rock's revised plan for more units while cutting back on parking is seen by council and the Downtown PoCo BIA as a good trade-off given the need for housing and the fact that the project is located close to transit.
As many as 82 parking spots would be provided for 80 units, plus nine visitor spaces and one car share space, and Quarry Rock would pay $40,000 per space in lieu of up to 44 stalls.
City staff is recommending the updated plan due to the need for housing and promised additional amenities, like more bike storage and a maintenance area, an electric car to share along with a one-year transit subsidy that will reduce the need for a car.
The proposed zoning change would be from CC (Community Commercial) to CD (Comprehensive Development).
The project is unique as the City of Port Coquitlam retains ownership of a portion of The Met commercial units due to the fact that the development is partially built on a city parking lot while the remainder of the property is on the site of commercial buildings that were destroyed by fire in 2016.
To find out more about the meeting, read the Aug.15 meeting agenda here.
