Over four years after their master plan was approved by the City of Coquitlam, Concert Properties has now set to move forward with the first phase of the project, which will deliver two high-rise residential towers, reported Storeys.
"The Whitgift Gardens master plan is set for 530, 550 Cottonwood Avenue and 663, 675 Whiting Way, a 6.7-acre site along Cottonwood Avenue in Coquitlam near the border with Burnaby and Burquitlam Station."
"BC Assessment values the respective parcels at $9,651,000, $121,486,00 (inclusive of 675 Whiting Way), and $8,137,000, for a total site value of $139,274,000. Concert Properties owns the properties under Concert Cottonwood Lands Ltd."
"The master plan site is currently occupied by 12 three-storey rental buildings that were all constructed in the late-1960s. According to the City, Concert Properties included a tenant relocation plan along with their original master plan proposal that would see tenants relocated in phases, while also providing financial assistance and offering them the right of first refusal in the new buildings."
"Phase One of Whitgift Gardens is focused on the northeast corner of the site, along Cottonwood Avenue and Emerson Street, which currently ends one block north of the site — at Smith Avenue (by Heart of Burquitlam, another Concert project) — but will be extended down past Whitgift Gardens."
"The first phase of the project will include a 30-storey strata tower and a 37-storey rental tower, along with a standalone two-storey amenity building that will include a 37-space childcare facility that the City was able to secure since the master plan application."
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