It could mean housing for 4,600 people, more than $80 million for the city, and a commercial hub with a plaza connecting the SkyTrain station with the newly opened YMCA.
Coquitlam council recently got a look at the updated development proposal earmarked for 7.76-acre parcel at the northeast corner of Clarke Road and Smith Avenue and stretching up to Emerson Street.
The project includes six towers ranging from 28 to 53 storeys totalling 2,212 units of housing. At total build-out, the applicant estimated the project would house 4,648 people.
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Tentatively slated to be in front of council for first reading later this year, the potential development took a small step forward Monday as council received the latest update without comment.
With more than 84,000 square feet of commercial space, the project is expected to generate about 210 jobs.
The applicant, Morguard Investment Ltd., also plans to include about 149,000 square feet of open space and to spend around $500,000 on public art.
The project is expected to generate about $80-million for the city through development cost charges, community amenity contributions and density bonus payments. Coquitlam would also pick up some cash from the sale of city-owned parcels at 550 and 566 Emerson Street.
In broad strokes, the proposal aims to turn Front Street into a stretch of retail featuring “grab-and-go food services” as well as a civic plaza. Hobbis Way would serve as the central thoroughfare, linking the SkyTrain to the YMCA.
Residential streets would consist of stacked townhouses of three storeys or more.
Over the past year, Coquitlam council has approved or advanced more than 2,000 new units in the neighbourhood.
Other projects in the neighbourhood
A 27-storey, 195-unit tower is set to be built on the former site of the Burquitlam Funeral Home.
Alongside 151 market condos, the project is set to include 33 market rental units and 11 below-market rental units.
A 29-storey, 246-unit condo tower next to a 103-unit, six-storey rental building spread over five lots on Claremont Street and Gardena Drive.
Those 103 units (including 14 below-market rentals) must remain rental for the life of the building.
A 44-storey apartment building is set to be built at North Road and Tyndall Street.
Located just north of Como Lake Avenue, the project includes a six-storey apartment building for a total of 446 units. Those units consist of 422 market condos and 24 below-market rentals slated to operated by a non-profit organization.
Last fall, council approved a plan to put a 42-storey condo highrise, a 16-storey condo tower, and a pair of six-storey rental buildings on 12 lots in 600-blocks of Claremont Street and Gardena Drive.
The project includes 744 units, consisting of 526 market condo units, 189 market rental units, and 29 below-market rentals.
In July 2022, council approved a plan to replace two houses with an eight-storey, 110-unit concrete apartment building situated over four lots in the 600-block of Claremont Street.
The project includes six three-bedroom units, 19 two-bedroom units and 85 studio and one-bedroom units, 32 of which include a den.
In February 2022, council approved two Burquitlam developments totalling 251 units. That included a 201-unit development earmarked for nine vacant lots at Como Lake Avenue and Robinson Street, as well as a 50-unit townhouse project replacing six single-family houses at Grover and Regan avenues.