Mission’s rental stock may be getting a big boost, after council moved forward on a development application for a four-storey, 103-unit apartment building.
The 2.8-acre development would be located on the 32000 Block of 14th Avenue, between Tanager Street and Cedar Street.
“Clearly the development world is on fire with regards to these developments,” said Coun. Mark Davies. “I think we shouldn’t be shy when we’re asking for things … we have a pretty strong hand.”
The development will sign on with the District’s density bonusing program, offering 11 affordable units (10 per cent) at below market prices and rental controls for a period of 20 years. The units are all one-bedroom apartments.
Rental rates will be adjusted for inflation, not exceeding increases regulated under the BC Residential Tenancy Act.
The application requires rezoning on two parcels of land, and a public hearing will be scheduled at the next available date.
Prior to any zoning amendment, the two parcels need to be consolidated into one lot, contributions have to be made to the District’s community amenity reserve, a road dedication must be made along 14th Avenue and a serving requirements must be met with the engineering department.
Windebank Creek runs across the southside of the property, and the developer has provided a provincially-accepted riparian report promising a setback 10 meters. The landscaping plan promises 62 trees, and nearly 2,000 shrubberies will be planted.
The development will add 92 market rental units to the District’s goal of 150 (61 per cent) for the year in the 2020 to 2024 Housing Needs Assessment.