Concert is taking steps to increase housing choice and availability in Metro Vancouver through its planned delivery of more than 1,000 rental homes as part of redevelopment plans for two properties in west Coquitlam.
On March 12, the City of Coquitlam unanimously supported a rezoning application for these two properties, which are expected to provide approximately 2,700 new transit-oriented homes, including condominiums, seniors housing and over 1,000 much needed rental homes, including two and three-bedroom options to address growing family housing requirements.
“As one of BC’s leaders in developing and managing purpose-built rental housing, Concert is proud to be creating the largest ever injection of rental homes in a single project in Metro Vancouver,” said Brian McCauley, Concert’s President & Chief Executive Officer. “Developing more rental options for families and individuals is a vital part of the solution to improve housing choice and availability.”
As part of the project, Concert in partnership with the City of Coquitlam and the YMCA of Greater Vancouver, will bring new amenities to the community. This includes a 60,000-square foot Coquitlam YMCA, as well as space for a new Community Police Station and Park-and-Ride facility. New vibrant public spaces, including expanded parks, are additional benefits that will be delivered by this project. Through an affordable housing partnership with the City of Coquitlam, new homes for low income households will also be available.
“We understand the affordability challenges facing Metro Vancouver residents and are engaging with municipal and provincial governments to explore options to maximize the amount of affordable housing that can be provided in this project,” said McCauley.
Concert is now advancing design development on the first phase of the project to secure required approvals to start construction next year.