A development company that told Duncan city council last month that it would consider withdrawing its application to build a large residential project on Price Place if the city continued to insist the project had affordable housing and family components is looking to change its plans for the development.
Duncan-based Top Down Investments, which had applied to the city to build two six-storey residential buildings that would contain more than 200 rental housing units, advised council in an email at its meeting on June 17 that the company does intend to pull its original application and proceed with a new application for a mixed-use building for its properties on the west side of Price Place.
An application to the city for a development permit for the new project has not yet been submitted, and it could also require a rezoning application.
Asked by Coun. Carol Newington what Top Down Investments’ new plan is, CAO Peter de Verteuil said the city has no information on that at this time.
“They intend to revisit their plans for this property and retool them,” he said. “We haven’t seen any drawings or anything like that yet, but they’ve indicated that they are withdrawing the application that council saw and will be reapplying.”
The company’s original plan called for a combination of 270 square-foot micro-living units, 416 sq. ft. studio units and 675 sq. ft. one-bedroom-plus-den units, with rents ranging from $1,450 to $2,500 per month in the project.
Guy Bouchard, president of Top Down Investments, told council at its meeting on May 6 that he was prepared to walk away from the project if the city insisted he commit to affordable housing and family-sized units in the development, as was being recommended by staff.
He pointed out that Top Down Investments is a small and upcoming developer and it’s subject to a lot of the market costs and conditions that all developers are having to deal with.
“If there is an opportunity for us to explore affordable housing or a certain mix of suites, that would need to come with an incentive or a change in the market or cost conditions, and we would then absolutely explore that at the development-permit stage,” Bouchard said at the time. “Right now, it’s just not there. Referring this back to us for more conversations wouldn’t work because we’ve had those conversations.”
But council did decide to refer the application back to Bouchard to further consider the issues in a 5-2 vote at the meeting.
Paige MacWilliam, Duncan’s director of corporate services, said the land on Price Place is currently zoned for multi-unit residential development under medium-density residential zoning, which calls for a four-storey maximum building height.
She said Top Down Investments does not need to rezone the properties in order develop under the current zoning.
“However, they were proposing to increase the permitted building height to six storeys, and when the city is reviewing rezoning applications, we look to our official community plan for guidance on planning and land-use management decisions,” MacWilliams said.
The OCP supports the provision of two and three-bedroom units in new residential and mixed-use developments to accommodate families, as well as the development of affordable housing units in these projects.
MacWilliam said that if developers are looking for something from the city for their projects, which is usually additional density, during the rezoning process, then, in return, city council can ask for something from the developer to support the community’s goals.
But MacWilliam said that if Top Down Investments’ future proposal aligns with the design guidelines in the OCP, and they’re not seeking additional density or varying the use of the land, then including an affordable-housing component in their development will not be a requirement under the current zoning bylaw.