'An opportunity lost': Did councillors bargain hard enough for affordable units in massive development?
CTV
A residential mega-development in south London divided members of the Planning and Environment Committee (PEC) on Monday about whether to play hardball over the amount of affordable housing units.
A residential mega-development in south London divided members of the Planning and Environment Committee (PEC) on Monday about whether to play hardball over the amount of affordable housing units.
A five-tower proposal at 1067, 1069, and 1071 Wellington Rd. just north of Bradley Avenue, would include 1,272 units spread throughout five towers — some as tall as 27 storeys.
“This is what the city envisioned when they established a transit village [around While Oaks Mall] and we [voted to] put in the rapid transit corridors [on Wellington Road],” explained Coun. Elizabeth Peloza, who represents the area.
However, last month council sent the rezoning application back to city planners hoping to negotiate a greater amount of affordable housing in the proposal.
A bonus zone is an agreement between city hall and a developer to permit greater height or density on a property in exchange for a public benefit, like affordable housing.
The ability for municipalities to enter bonus zone agreements expires in September.
City staff had originally recommended seeking 93 units at 80 per cent market rent for 50 years.
