Coquitlam approves Burquitlam condo development despite holdout lot

Despite not getting all the land in their land assembly, Polygon development company is set to build two six-storey condo buildings in Burquitlam, following an 8-1 vote from Coquitlam council.

Spread over 1.67-acres at Smith Avenue, Fairview Street and Vanessa court, the site’s borders take a sharp turn around 698 Fairview St. – a prospect that troubled a few councillors.

“I don’t think that this property will be able to be developed if it is left off of this one,” said Coun. Robert Mazzarolo.

Polygon tried to buy the property at 698 Fairview Street with the idea that Vanessa Court could be extended eastward to Fairview. However, the two parties failed to strike a deal.

A six-unit townhouse is “technically viable” on the site, according to a city staff report.

Coun. Dennis Marsden disagreed.

“We’re not going to build townhome there,” he said.

While it would make sense to include that lot, it’s not the city’s role to be involved in property sales, Coun. Brent Asmundson told his colleagues.

The developer “has gone above, quite a bit, by what the market would be paying” for that lot, Asmundson said.

“If somebody’s holding out and they don’t get the yield in the future, that’s not our problem. That’s their choice,” he said. “If somebody’s going to be stupid, greedy, choose your word . . . they’ll suffer the consequences of their decisions.”

Mayor Richard Stewart concurred.

“This remnant parcel is worth the most it will ever be as part of this development, I suspect. If it’s left orphaned, it will be worth much less,” he said.

While the city encourages common-sense land assemblies, Coquitlam won’t help a property owner use an assembly to leverage a higher sales price, Stewart said.

“We as a city must never put ourselves in a position where we are enabling a ransom demand, effectively,” he said. “If you think that that’s your business plan, is to hold out for twice as much as your neighbours got . . . we’re not going to enable it.”

There could be other reasons a homeowner is reluctant to sell, noted Coun. Trish Mandewo.

“We have to respect that,” she added.

“I’m not worried about the value of individual properties as much as I’m worried about the logical planning of a neighbourhood,” said Coun. Craig Hodge.

While he voted in favour of moving the project, Mazzarolo concluded his comments by emphasizing there was still time for cooler heads to prevail and for the homeowner and Polygon to make a deal for the last lot.

Breakdown

• Studios: 6
• One-bedroom: 71
• Two-bedroom: 89
• Three-bedrooms: 18

The project is close enough to Burquitlam SkyTrain station to included in the new provincially-imposed zoning, which requires building heights of at least eight storeys.

Because Polygon’s application predated the provincial housing legislation, that zoning isn’t yet binding. In terms of the holdout lot, there are site constraints that could keep it from hitting provincial targets on height and density.

Polygon is set to pay the city approximately $3 million in development cost charges and community amenity contributions.

The motion carried with Coun. Dennis Marsden opposed.