View Royal will consider a report on a development permit application for the Town’s first not-for-profit housing building, in a council meeting on Tuesday, May 21.
The 152-unit development is proposed for 1938 West Park Lane. Two six-story buildings would go on a 13-acre property on the north side of the Trans-Canada Highway, near Thetis Lake Regional Park, and would be managed by the Capital Regional District Housing Corporation.
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Over half the apartments would have rent far below market rates. Thirty-two studio apartments and two one bedrooms would come with income assistance and cost $375, according to a report submitted to council last month by the engineering department.
It adds, 44 one-bedrooms “affordable” one bedrooms would cost $1275. Rents on 31 one-bedrooms and 44 two-bedrooms are considered to be “near market” values, the report reads, costing $1525 and $1790 respectively.
The town would waive a total of $926,400 in fees for the developers, it notes.
“The amount to be reduced can be a percentage of the [Development Cost Charge] unit rate or a lump sum amount per unit chosen by council and would apply to each unit equally,” the report reads.
READ MORE: Not-for-profit rental apartments proposed for View Royal
A notice from council is asking residents to provide their feedback on the plan, which has so far been positive.
“If you have any representations to make, the Council would be pleased to hear them at the May 21, 2019 meeting. If you are unable to attend the meeting, written comments may be submitted by mail, facsimile, email, or hand-delivered no later than 3:00 p.m. on Tuesday, May 21, 2019 to the Town Hall,” a notice from council says.
ALSO READ: What is ‘affordable housing?’
A copy of the application can be found at the Town Hall from May 8 to May 21, Monday to Friday between 8:30 a.m. and 4:30 p.m., or by calling the Development Services Department at 250-479-6800, it adds.
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