The City of Burnaby is being pitched a four-tower mega-development next to a SkyTrain station.
Boffo Developments is trying to develop a four-acre property into more than 1,200 units, including 144 non-market rentals, at Lougheed and Springer next to the Holdom SkyTrain station. The towers would range from 34 to 45 storeys in height at the site (also called the Bassano site), which currently houses industrial buildings.
Two of the buildings would be connected by a six-storey podium.
Boffo is also the owner of 5650 Beresford Street, which is located in the Royal Oak Community Plan area, and is designated for medium-density multiple-family residential.
“The applicant is proposing to leverage both the Bassano Site and the Beresford Site to satisfy the inclusionary requirements of the subsequent rezoning applications, while also providing additional rental housing opportunities to house displaced tenants while their new rental homes are constructed,” says a city staff report. “Under the proposal, approximately 93 purpose built rental units would be constructed at the Beresford Site, which would initially serve as temporary housing for displaced tenants from development sites within the Metrotown Downtown Plan Area and beyond. These 'swing units' would be delivered prior to or concurrently with Phase 1 of the Bassano Site, and it is proposed that these units temporarily satisfy the inclusionary rental requirement for Phases 1 and 2 of the Bassano Site, as well as the inclusionary requirement for the Beresford Site.”
The idea is that to comply with the Tenant Assistance Policy, residents displaced from other developments could be housed at the Beresford Site for an interim period, until their unit in their new development is ready.
“Tenants would only be responsible for the portion of the rent amount equivalent to the tenant's rent at the time of rezoning of their respective site, with the pertinent developer paying any applicable rent top up, in accordance with the City's Tenant Assistance Policy.”
