Development of multi-unit industrial building in Port Coquitlam back on the books, despite financing delays
A new multi-unit industrial building in Port Coquitlam is back on the books, despite previous delays in securing construction financing.
The owner of the 39,643 sq. ft. property on 1161 Kingsway Ave. had secured a development permit from the city in 2020, but COVID-19-related financial struggles led to the permit expiring two years later.
Port Coquitlam council unanimously approved the developer’s request to extend the permit to the end of 2025 on Sept. 3, with the developer stating they are ready to immediately proceed to construction after permit fees and securities are paid to the city.
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Staff recommended approval, describing the development as having a “high-quality” design, consistent with the character of neighbouring industrial properties.
“(It) would provide significant improvements to the highly visible property,” staff said. “The proposed development remains attractive and will greatly improve the appearance of this prominent intersection.”
The proposed site, which is located on an irregular shaped lot on the corner of Kingsway Avenue and Mary Hill Bypass, has already been cleared for development, and is surrounded by other general and heavy industrial sites.
Although there have been some minor alterations to the building and landscape design, staff said the project is in line with the site’s zoning and development permit designations.
Coun. Glenn Pollock inquired with staff whether the owner still intended to use the space for a craft brewery.
Staff the owners were still working out the finances on a potential brewery, but added they “we’re trying to make it work.”
“Once they get under construction, I think they’ll make a decision based on costs,” staff said.
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