Richmond council advances 90-unit rental housing development

Richmond council has approved the first three readings of a rezoning and housing agreement for a proposed six-storey apartment building at 8620, 8640 and 8660 Spires Rd. The development would secure 90 rental homes, including 22 low-end market rental (LEMR) homes and 68 market-rental homes.

The proposal calls for 41 per cent of the rental homes to have two or more bedrooms, making them family-friendly. Most LEMR homes would have two or three bedrooms, while one-bedroom units would make up the largest share of the market-rental homes.

For LEMR homes, the proposed monthly rent caps and income thresholds are $1,395 and $55,800 for studios; $1,508 and $60,336 for one-bedroom homes; $1,816 and $72,648 for two-bedroom homes; and $2,205 and $88,200 for three-bedroom homes. The agreement would cap market-rental rates at prevailing market levels and protect tenants from age-based occupancy restrictions, limits on access to indoor and outdoor amenity areas, and moving or amenity fees.

The Spires Road area, between Westminster Highway and Cook Road and between Cooney and Garden City roads, was historically a single-family-home neighbourhood. When fully built out, it is estimated to contain between 1,600 and 2,100 homes for between 3,400 and 4,200 people.