Port Coquitlam's acquisition of three units in a new mid-rise next to Leigh Square is part of the city's plan to control how the downtown grows.
On Tuesday, Oct. 10, city council granted three bylaw readings to rezone 2272 Leigh Sq., as well as 2265 and 2291 Wilson Ave. following a public hearing to allow NorthStar Developments to construct a six-storey structure where the Elks building is now.
The proposed building on the 40,759 sq. ft. lot, which will also go on the city parking lot to the south, will include five upper floors with 108 apartments plus 16,730 sq. ft. of commercial on the ground floor, of which three units (totalling 7,786 sq. ft.) will be owned by the municipality on the north side of the development facing Leigh Square.
PoCo officials say the three units will offer a "raised patio experience" with a café or restaurant for patrons to view the entertainment at Leigh.
Yesterday, Oct. 12, deputy CAO Karen Grommada told the Tri-City News the city has been gradually buying key properties in the core as part of the revitalization that includes updating public spaces like McAllister Avenue, Veterans Park and Leigh Square, as well as private sites to drive business and "create an attractive, welcoming destination for visitors and residents."
On Thursday, the city also permanently made Donald Street — between Wilson and McAllister avenues, east of Leigh Square — a northbound one-way road.
"The vision for Port Coquitlam's downtown is for a vibrant, pedestrian-friendly, safe and welcoming commercial and residential zone, with strategic redevelopment that retains the area's charm and heritage while supporting thriving businesses and attracting people to the downtown to live, shop, socialize and celebrate," Grommada said.
"City ownership of select properties will ensure public control over how the downtown re-develops while also generating potential future revenue through leases and/or sales."
Currently, she said, the city's downtown assets include:
- 2263 McAllister Ave. (current home of PoCo Bowl)
- 2604-2608 Shaughnessy St.
- 2283-2285 McAllister Ave. (mixed commercial, corner of McAllister)
- 2616 Shaughnessy St. (vacant commercial)
- 2620-2636 Shaughnessy St. (pop-up park)
- 2275-2277 and 2288 Elgin Ave. (mixed commercial)
The city is also "leveraging" its former parking lot on McAllister Avenue for about 15,000 sq. ft. of commercial space in The Met development, Grommada said.
Six-storey mid-rise
As for the NorthStar proposal, there's no parking for the city's three commercial units.
And the developer's overall parking reduction of 63 spaces‚ at $40,000 per stall, equates to $2.52 million for the city's coffers, Bruce Irvine, PoCo's director of planning and development, wrote in his report.
NorthStar will also provide the city with about $774,520 in density bonuses and $77,400 in lieu of affordable housing — offsetting future property tax and utility fee hikes, Irvine added.
Coun. Dean Washington said he's eager to see the mid-rise up to continue with the city's work to upgrade the core.
"I think it's going to really give some life to the downtown," he said.
"I'm looking forward to the construction starting."
