It’s a little bigger, a bit greener and it includes a lot more rental.
Coquitlam council got a look at a slightly revamped version of the proposed nine-tower, 2,834-unit Coronation Park project Monday.
Located east of Balmoral Drive between Barnet Highway and Guildford Drive, the project has expanded by about 1.2 acres following an arrangement to buy two holdout properties and a city-owned lot at 2545 Palmer Avenue, explained Polygon development company vice-president Brandon Hohenwarter.
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The project now includes more childcare space and about 300 more units of housing – including 194 more rental units than first proposed.
With towers ranging from 29 to 47 storeys, the project is expected to house about 5,600 residents at full buildout.
Of the project’s 784 rental units, approximately 210 units are slated to be below-market rentals. Given the project’s proximity to rapid transit, Coun. Dennis Marsden underscored the importance of providing housing for people who work in the service industry.
“They’re the ones working in our local stores and serving us,” he said. “Let’s ensure that we’ve got the opportunity for them to live and work here so they’re not having to commute from Maple Ridge, from Mission, from Aldergrove.”
Located about 350 metres from Inlet Centre SkyTrain station, the project is just across the municipal border from the Coronation Park development currently under consideration in Port Moody.
The proposal’s floor area ratio – which measures a project’s total floor space against its lot size – of 5.53.
Outside elements
Including a one-acre public park as well as pedestrian pathways, approximately 40 percent of the site intended to be open space, according to a city staff report.
Discussing the project Monday, Coun. Trish Mandewo inquired if a sports court could be incorporated.
“One of the things that we are hearing as a council is that need of tennis and pickleball,” she said.
Coun. Brent Asmundson suggested including a play field, given the dearth in the area.
The proposal includes a 26,900 square foot building set to provide: “communal services and amenities.”
Childcare
The project is set to include two childcare centres with space for a total of 79 children.
Cash on the table
If approved, the developer is expected to be on the hook for approximately $140 million in density bonus payments, development cost charges and voluntary community amenity contributions, according to the city staff report.
Schedule
The project is tentatively slated to be in front of council for first reading in November.
Related: Coronation Park plan could be in front of council by end of 2022
