Burquitlam development tweaked to include non-market rentals

Coquitlam council recently approved a deal with Concert Properties to include more affordable housing in a 37-storey Burquitlam tower.

The tower – which was originally intended to consist entirely of market rental units – is now slated to include 54 non-market rentals.

The 54 rentals are priced at the lower of either 29 percent below fair market rent or on a calculation connected to median income. A household earning $70,000 would pay a monthly rent of approximately $1,225; based on 30 percent of 70 percent of the median total income.

Located at Cottonwood Avenue and Whiting Way, the tower also includes 293 units set to remain market rental for 60 years. The other 54 units are scheduled to remain non-market for 16 years, at which point they’ll be converted to market rental.

The agreement passed unanimously without discussion on July 15. Coun. Robert Mazzarolo recused himself “out of an abundance of caution.”

The highrise is part of a six-tower development totalling of 1,973 housing units originally approved by council in 2019. The towers range from 24 to 48 storeys.

The first phase of the project includes the 37-storey rental tower as well as a 30-storey building with 275 strata units.

Discussing the project in February, Mayor Richard Stewart noted it included: “a bunch of affordable housing and rental housing that was built without the province’s involvement.”

The project is also set to include approximately 132 purpose-built market rental units for seniors.