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Wesbild buying city land for houses

A major Coquitlam developer plans to buy property from the city to assemble land for a residential subdivision on Burke Mountain. Wesbild has asked to purchase a 28-square metre lot near David and Galloway avenues as part of a new 13.

A major Coquitlam developer plans to buy property from the city to assemble land for a residential subdivision on Burke Mountain.

Wesbild has asked to purchase a 28-square metre lot near David and Galloway avenues as part of a new 13.7-acre subdivision in the Smiling Creek that would have 78 single-family homes. As well, the company has asked to have a road dedication cancelled for the housing project; the dedications total less than half an acre.

Under the agreement, which was approved in principle by the city's land use committee on Monday, Wesbild would pay $374,300 for the lot and the road cancellations.

The market value on Burke currently sits at $910,000 an acre, according to a city report.

In January, city council granted rezoning and an official community plan change to Wesbild for the residential development for the properties located at 3450 to 3469 Galloway Ave.

jwarren@tricitynews.com