A new six-storey apartment building that will offer 67 purpose built rentals is being considered a priority project by the District of Squamish.
It is being considered a priority because it is 100 per cent rental.
The proposal is to develop a mixed-use building with retail at grade, parking on Level 1 and 2, and 67 units on level three to six.
Of the 67 rental units provided, 33 are 2-bedroom units, and one is a 3-bedroom unit. The rentals will be maintained through a form of covenant with the district to ensure they remain as rentals for a specific time.
The developer, however, is asking for a number of variances, including nine parking variances. The district requires 76 parking spaces, but 67 are being offered, including 6 motorcycle spaces and 136 bike parking spaces.
“With the addition of a bike lane along the site’s frontage, alternate means of transportation will be available to and viable for residents,” according to a report presented to the district.
In their support, the developer quote a regional parking study in Metro Vancouver which determined that market rental close to transit are over parked, which means fewer people use the parking as they are less likely to own a vehicle.
District is also being asked for a variance on a loading bay and commercial space, although the developers say they have ‘wrapped’ most of the Third Avenue and Victoria Street frontages with commercial storefronts to ensure an ‘active streetscape.’
A reduction in indoor amenity and extra building height are also being asked for. Staff are supportive of most variances in exchange for purpose built rental and are still exploring others.
The proposal at 38012 Third Avenue will replace the old Squamish Budget Inn, which was sold for $4.5 million. The zoning allows for a commercial and residential project of up to six storeys.