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Brentwood tower to generate $6.5M community benefit
A proposed highrise project in the Brentwood neighbourhood could generate more than $6.5 million as a community benefit if it receives final rezoning approvals from Burnaby council.
The money would come through provisions that would allow the developer to build bonus density on the site.
Council approved receiving the benefit as cash-in-lieu since the site of the development at the southeast corner of Gilmore Avenue and Halifax Street is purely residential and "is not considered appropriate for an on-site amenity," according to a staff report.
The proposed project would comprise a highrise residential tower, townhouses fronting onto Halifax and a two-storey strata amenity space fronting Gilmore.
Following city policy, 20 per cent, or $1.3 million, would be deposited in an account dedicated to affordable and special needs housing projects.
The rest will go into the Brentwood Town Centre community benefit account, to be used for future community amenities in that quadrant of the city. If the project receives all the necessary rezoning approvals, the benefit would bring the account balance up to $13.4 million.