Coquitlam will review a policy that allowed a developer proposing 20 fewer parking spaces than required to provide transit passes and cash in lieu at a much lower cost than it would have been to build them the spots.
Ledingham McAllister plans to build a 251-unit, 29-storey tower on Cottonwood Avenue at Whiting Way in Burquitlam. The developer proposed 310 parking spaces although the city regulations required 330. To make up for 17 of those spaces, the developer offered to provide transit passes valued at $340,000 ($20,000 worth of passes for each space) and $60,000 in cash for the other three.
But when it went before council in November, Couns. Craig Hodge and Dennis Marsden noted developers consistently tell the city parking spaces cost $50,000 to $60,000. If that’s the case, they pointed out, the 20 spots would be worth more than a $1 million. But prior to a Dec. 10 public hearing on the proposal, city staff determined the developer was meeting the current requirements.
“I thought that was pretty skimpy,” said Hodge at the council meeting that followed the public hearing when second and third reading of Ledingham McAllister’s rezoning application was approved. “However, I got the answer back from staff and, lo and behold, the developer was using the incentives we put forward in 2012.
“We need to review that. It’s something we should put in the pack for 2019.”
As a result, council directed its staff to review the transit and parking incentives in high density zones such as Burquitlam.
On another note, Coun. Bonita Zarrillo criticized the proposal for only providing a water feature with landscaping and a north-south greenway as the development’s contributions to the public realm.
“I see us building a lot of towers but I’m not seeing us building a vibrant, thriving community,” said Zarrillo. “There needs to be more community benefit than that.”
