A developer looking to build in Peachland is offering the district a cash bonus to help with road infrastructure improvements in the community.
The plan is to build a 48-unit townhouse project on a hillside property at 4641 Princeton Avenue.
During a March 28 public hearing on potential rezoning of the property, Ruibin Li with engineering firm McElhanney who spoke on behalf of the developer said the site is costly to develop.
“The estimated cost per unit to construct these townhouses is significantly higher than a typical townhouse project. The margin is quite low.”
Li also noted that the district’s Community Amenity Contribution (CAC) bylaw states it should be collected at the building permit stage.
“We are willing to make a one-time CAC payment before the zoning approval to help the district improve your community amenities faster.”
CACs are meant for capital amenity projects and are separate from Development Cost Charges (DCCs), which help pay for water, sewer and other infrastructure. DCCs for the project would cost approximately $1 million.
The amount for required off-site works, including sidewalks, bike lanes, and street lights, would cost more than $1.3 million.
There is also a $1 million price tag for a left turn lane into the development on Princeton, near Somerset Avenue, that council asked the developer for previously.
Li noted that a traffic analysis showed the lane would not be needed, based on vehicle counts adjusted to the peak summer season and anticipated growth in the region scaled to 2038.
Two residents who spoke against the project cited the potential for increased traffic on Princeton. Li acknowledged those concerns and added that the property owner wants to contribute to help improve infrastructure in the community.
“I’m here on behalf of the owner to offer an additional donation to the district, in the amount council would prefer, but I’m recommending double the CAC,” said Li.
It was unclear how much the amount might be.
Council had no questions for Li, but it is expected to consider the rezoning request at a later date.
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@GaryBarnes109
gary.barnes@kelownacapnews.com
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