A development application has been submitted for a 24,341 SF site at the Northeast corner of Oak Street and West 52nd; an assembly of three single family lots.
The site is located in the Cambie Corridor Phase 3 townhouse areas, but required rezoning prior to development permit.
The plan for the assembled site includes:
23 townhouse units in four buildings;
a total density of 1.19 FSR;
maximum heights of 36 ft. for front building facing Oak Street, and 37 ft. for buildings facing rear lane; and
one level of underground parking containing thirty (30) stalls, having access from the rear lane.
The site is subject to council enactment of the proposed rezoning from RS-1 to RM-8AN By-law, the application is “conditional” so it may be permitted; however, it requires the decision of the Director of Planning.
The site was assembled by Coromandel Properties in 2017/2018 for $12,550,000 or $434 per buildable SF based on the application.
A rezoning and development permit application has been submitted by Vanhome Properties to the City of Coquitlam for the development on two separate, 4-lot land assemblies, eight lots in total, on Madore and Dansey Avenues between Guilby and Westview Streets
The OCP designation for the 32,300 SF site is Medium Density Apartment Residential in Burquitlam Lougheed Neighbourhood Plan (BLNP).
The proposal for the combined site includes two 6-storey condo buildings separated by the existing lane. Details include:
Bold Properties has submitted a revised application to the City of Port Moody for a seven-lot land assembly they own on Clarke Drive between St. Johns and St. George streets, next to the site of the old Barnet Hotel.
Plans for the 62,000 SF site include two 6-storey buildings entitled ‘Paramount‘. Details:
163 condo units;
one studio, 78 one-bedrooms, 75 two-bedrooms & 10 three-bedrooms;
an overall density of 2.40 FAR;
217 resident parking spaces and 27 visitor spaces;
270 bicycle parking spaces.;
land dedication for an additional northbound travel lane & multi-use pathway on Clarke Road and St. Johns Street;
improvements to the existing trail from the end of St. George Street to Moody Secondary School; and
an affordable housing approach based on BC Housing’s Affordable Home Ownership Program.
The application describes the revised affordable housing proposal:” to offer potential first time home owners who are currently renting, with an option to enter the housing market. However, the City is not being asked to consider any fee waivers as initially requested and as such, it is not involved as a partner. While the details of the revised program are still being developed, Bold has confirmed that there will be a locals-first marketing program, and BC Housing indicated that they would be open to responding to individual situations on an as-needed basis if units need to be vacated before the five-year residency requirement has been satisfied.
Staff will continue to work with Bold and BC Housing to understand all of the program details, but some known issues which require clarity include:
the extent of the price discount in terms of the actual percentage reduction and the number of units to which this would apply. This will ultimately be dependent upon project costs which may not be known until the building permit is issued;
details on how the BC Housing mortgage proceeds will be re-invested back into the City;
how the program will prioritize residents currently renting in Port Moody;
confirmation of the total household income range applicable to each type of unit; and
confirmation that BC Housing will manage the process of selecting eligible households.
In order to reduce project costs and improve the affordability of the project, the applicant has suggested that a reduction in the amount of parking required would reduce the extent of the underground parkade and, therefore, construction costs.”
