A $6 million contribution to the city, 52 parking stalls for use by patrons of the Richmond Olympic Oval and 10 per cent affordable housing are being offered as part of a three-story hotel and residential development.
But at least one Richmond city councillor said he only “reluctantly” supports the development.
“I’m not sold this is the best deal for the city,” Coun. Bill McNulty said at last week's planning meeting where the Landa Oval Development was being discussed.
He noted $6 million being offered by the developer, Landa Oval Development, in lieu of community amenities was the “biggest” offer he’d seen during 30 years on city council.
However, he said use of the 52 parking spots for special events wasn’t necessarily a good benefit to the community.
“By giving the Oval something, you’re not giving the community anything,” McNulty said. “The Oval gets everything, and I think it’s high time we got something for everybody there.”
The agreement for the 52 parking spots, however, was in place prior to Landa's acquisition of the property, according to the developer.
Ten per cent affordable housing fall under old rules
McNulty told the News he also hopes the developer can add a few more affordable housing units.
While Coun. Carol Day said she was pleased the affordable housing included two- and three-bedroom units, she also questioned whether more affordable units could be added to the development.
If approved on Monday by city council, the developer will only need to provide 10 per cent affordable housing, while large developments approved after Nov. 15 will have to have 15 per cent affordable units.
This policy was changed by city council a year ago but it included a grandfathering clause.
Of the 356 residential units being proposed by Landa, 35 will be affordable rental units, managed by a non-profit.
The land is currently zoned industrial, but the Official Community Plan (OCP) has earmarked the area for high-density mixed residential and commercial development.
The two properties currently contain offices and light industrial, including an archery club.
The planning committee supported the proposal unanimously last week, and it will be forwarded to Richmond city council for first reading on Monday.
