A 23-storey residential tower is being proposed for the Central Londsale neighbourhood of North Vancouver, following City Council's decision to bring the development to public hearing in the fall.
The 166-unit development would be located at 1441 St. Georges Avenue, just west of the 14-storey Royal George rental building, which has stood in the area since 1968. The Royal George would be refurbished and be brought up to modern building codes as a part of the development. Nine additional rental units would also be added to the existing building.
The new tower would include 18 units rented out at 10% less than the average rent, calculated by the Canadian Housing and Mortgage Corporation (CHMC). The development would be adding 175 rental units to North Vancouver's rental stock, "relieving pressure on the city's historically low vacancy rates," noted in a staff report. The number of units between the two buildings would total 255, with 137 parking spots and 396 spots for bicycles.
The development's towering 223-foot height could be a cause for concern in the public hearing, as Mayor Darrell Mussato emphasized that, "We have to hear from the local residents in the community."
If approved as written, the developer would pay the city $9.62 million and would be buying 83,672 square feet of density from two city-owned sites. The public hearing is scheduled for September 18.