A change of heart on City of North Vancouver council may cost a developer an extra $1 million.
Developer Mike Rakis had argued city council should make an exception to their amenity fund contribution policy in the case of his proposed five-storey strata/rental mix on West 23rd Street.
At a council meeting in early February, Coun. Linda Buchanan and Mayor Darrell Mussatto appeared to favour a site-specific exemption in which the developer would pay the city $943,133 and provide eight market rental units.
However, Coun. Linda Buchanan asked to withdraw her motion at a Feb. 20 meeting, noting the developers seemed “to be fine” with a pricier option. Council voted unanimously against making an exception, instead voting to charge the developer a total amenity contribution of $2.07 million.
City staff advised against making an exception, noting the density bonus policy has been applied across the board since 2015.
“Introducing variability in the way the policy is applied can result in reduced clarity,” noted a city staff report.
The city generally requires a $140 payment for every square foot of additional density in stratified condominiums but asks for no cash in 100 per cent market rental buildings. The city has no policy for a mixed rental/strata project.
Council should “at least consider” a policy that deals with mixed projects in the future, according to Mayor Darrell Mussatto.
The developer’s initial proposal included a mix of 32 strata units and eight rental units.
However, the developer may opt to move forward with a 100 per cent strata project, according to Buchanan.
