Housing Affordability Strategy Implementation

Short-term, high-priority actions from the Housing Affordability Strategy:

  • Consider concentrating higher densities and a broader variety of dwelling types and tenures near transit, through the completion of the Burquitlam-Lougheed Neighbourhood Plan
  • Encourage the development of designated market rental units (purpose-built and/or strata available for rental) through a suite of incentives as identified in the HAS
  • Review Zoning Bylaw density, parking, amenity space and other requirements to encourage the development of purpose-built rental housing
  • Consider permitting additional rental floor space above standard density allowances to encourage purpose-built rental subject to servicing, traffic, parking, and urban design considerations
  • Employ a series of regulatory incentives to preserve existing rental and co-op housing
  • Contribute a portion of density bonusing into the AHRF based on the City’s Zoning Bylaw for the purpose of fostering housing affordability in accordance with the AHRF guideline
  • Complete the sale of three City-owned sites in the Northeast previously identified for affordable housing, and direct one-third of the proceeds to immediately "jumpstart" the AHRF
  • Call for submissions and promotion of the availability and use of the AHRF
  • Call for partners to work with Coquitlam in addressing affordability and accessibility
  • Request for Proposals for an affordable housing project at 1358 Coast Meridian Road

Projects Recently Approved by Council using HAS Incentives

  • Approved by Council July 27, 2020: LOMA: A mixed-use development with 122 market condo, 52 market rental, and 6 below-market rental units at 901 Lougheed Highway. Developer: M.L. Emporio Properties (PROJ18-115).
  • Approved by Council June 22, 2020: Smith & Farrow: a 46-storey residential tower consisting of 348 market condo units and a 20-storey residential tower with 134 rental units inclusive of 21 non-market rental units, along with an AHRF contribution of $798,000 to assist in the development of the 21 non-market rental units. Located at 705 and 707 North Road, and 720 Farrow Street. Developer: Boffo Properties (PROJ 18-103).
  • Approved by Council May 25, 2020: Hoy Creek Co-op: A 6-storey building containing 132 non-market purpose built rental units with an underground parkade located at a portion of 2905 Glen Drive, along with a maximum AHRF contribution of $3,300,000. Affordability: 20% of units at shelter rates, 50% at rent geared to income, and 30% at low end of market rates, with a priority to house Coquitlam residents.  Developer: TL Housing Solutions / Community Land Trust Hoy Creek Community Society (PROJ 19-029).
  • Approved by Council May 25, 2020: A 29-storey residential tower consisting of 253 residential units, to provide a minimum of market and 9 non-market rental units to be operated and managed by a housing society or other similar entity approved by the City. Developer: Ledingham McAllister (PROJ 18-066).

Projects Recently Approved by Council using provincial and/or federal incentives

  • Approved by Council July 27, 2020: Two 6-storey apartment buildings over a shared parkade at 600,602,606,608,610,612 and 618 Shaw Avenue. All of the 197 units will be rented at 10% below market rates for a minimum 11-year period, in line with CMHC's Rental Construction Financing initiative (REFi). Shaw Ave. Developments Ltd. (PROJ 18-087).