A plan to build a large, mixed-use development in the heart of the Lynn Creek neighbourhood is coming up rental.
At a Jan. 27 meeting, District of North Vancouver council voted 5-2 to pass amendments to a previously approved proposal that will see all 429 units be purpose built for renters, rather than a mix of rentals and strata units.
Aside from the switchover of 205 strata units, there have been only minor changes to the previous plan for a 24-storey tower and mid-rise buildings at 1510 to 1530 Crown St. since it was originally OK’d in 2022.
But Couns. Betty Forbes and Lisa Muri still dissented in the vote, with concerns that only 45 below-market apartments won’t move the needle enough on affordability.
The matter came before council, as the proposed rental conversion has a small increase to the total number of units (from 420 previously) as well as adding to the commercial floor space.
After conversion of the strata tower, the new mix of market rental units includes 207 one-bedroom, 170 two-bedroom and seven three-bedroom apartments.
This type of change appears to be trending across the North Shore, with several new developments shifting from condos to rentals, including the under-construction project at 2195 Gordon Ave. in West Vancouver.
Unchanged at the North Van project are the 15 one-bedroom, 25 two-bedroom and five three-bedroom units at below-market rates. Those will be offered between 80 and 86 per cent of district median rates, which is estimated by staff to be $1,752 for a one-bedroom apartment, based on 2023 data.
There will also be a daycare, as well as commercial space for a grocery store and several other businesses. The commercial square footage slightly increased in the project update.
The developer will pay the district $2.5 million in community amenity contributions, and spend more than $2 million in improvements to the surrounding area. There are also developer cost charges estimated at $13.9 million.
Important to have aging rental stock, mayor says
During council’s discussion, Mayor Mike Little said it’s important to produce intentional rental housing.
“We had a 17-year period in the district of North Vancouver where not a single purpose-built [rental] building was built,” he said. “And when I was first elected in 2005 we set about to intentionally seek out purpose-built rental projects, even just a few a year, just to always be providing stock.”
If there’s no aging rental stock, when residents leave their housing, there wouldn’t be anything available at nearly the same rate, Little explained.
“And so I do support this … to make sure that we always have aging stock being produced in our community, because that’s the only way we’re going to produce affordability in the long run,” he said.
Noting rising gridlock traffic on the North Shore, Muri criticized council for supporting more population density in hopes of bettering affordability and getting people out of cars.
“As I voted against this the first time, I’ll be continuing my consistency and voting against this one as I don’t feel the 10-per-cent below-market unit count is any great benefit,” she said.
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