There are 166 non-market units in the Coquitlam property proposal, along with ground floor shopping opportunities.
A Maillardville property where Vancity once had a credit union branch may soon have residential rentals — with purchases below.
Last month, Coquitlam City Council unanimously gave first reading to Catalyst Community Development Corporation to rezone 1013 and 1025, av. Brunette to build a 166-unit non-market and commercial ground floor apartment complex.
A public audience on the proposal will be held on Monday (July 11) at Coquitlam City Hall; the meeting starts at 7 p.m.
If OK’d, the six-story building would include:
- 17 three-bedroom units
- 18 accessible units
- 16 adaptable units
- Eight employment-housing units
And that would bring in $2.1 million in development costs for the municipality.
Catalyst Community Development Society is a Vancouver-based non-profit developer, owner/partner and operator of purpose-built housing.
Currently, projects are underway with Vancity at 5590 Victoria Dr. (Vancouver); the City of Burnaby (6857–6875 Royal Oak Ave. and 7510 Kingsway Ave.); in Surrey (in partnership with Semiahmoo House Society, Semiahmoo Foundation and Peninsula Estates Housing Society); and with the District of Tofino.
Its website says the proposed Coquitlam project is a 99-year ground lease with Vancity, costing $56.5 million to build.
It should be in place by 2025, if approved by the board.
“I think it’s a fabulous project,” said the adviser. Chris Wilson told the council on June 20.
“There’s so much good stuff in it. We’re talking about the need for off-market housing, and we’re getting some all over town, but it’s going to make a huge difference, so I’m glad to see it come up.”
Com. Steve Kim said he was happy to see the addition of housing-employment units and accessible units.
The Vancity Credit Union branch was on site until 2017; another branch opened two streets away.