Frank O’Brien, (WESTERN INVESTOR) — Nearly 20 years after developer Beedie bought 96 acres of former industrial land along the Fraser River in Coquitlam, B.C., construction crews are now on site building a $10 million sales centre and preparing the groundwork for a community of 5,550 new homes in series of high rise towers, industrial and commercial space, plus community centres, a new school and extensive parklands.
“We are incredibly excited to bring Fraser Mills to life,” said Ryan Beedie, president of Beedie, which has owned the land since 2004 and plans to be the sole developer.
The first tower in Beedie Living’s new waterfront community got the city’s blessing September 25 when council unanimously approved a development permit for a 36-storey condo highrise called Debut, with 318 homes at 1251 Ghuman Place.
Chris McBeath, Coquitlam’s acting director of development services, said the inaugural building will be located east of Kong Court. The building will include a public art piece in the plaza on the northeastern corner, valued at $350,000.
Beedie has three more Fraser Mills development permits in the works for council consideration:
• a 47-storey building with 461 units that will potentially include 266 market rental homes and 195 non-market homes (immediately east of the Ghuman site)
• an industrial warehouse with offices (north of the Ghuman site),
• a 32-storey residential high-rise with 309 units and child care centre for 69 kids (immediately south of the Ghuman site)
McBeath said the Debut building will generate about $7.6 million for the municipality in development cost charges.
The building podium will be five storeys high, with 32 townhomes at the base, and the site is preloaded to stand 20 feet above median sea level, as it is on the Fraser River floodplain.
A total of 376 parking spaces are planned, made up of 344 residential spots — all with Level 2 outlets for electric vehicle charging — and 32 visitor stalls.
In addition, Beedie is proposing 433 bike spots plus a bicycle maintenance station and bike wash for the future residents.
The sales centre opens this fall to market the first condo tower. It’s expected Debut will be ready for move in by 2026.
“The Fraser Mills development will completely re-shape Coquitlam’s historic waterfront and we are excited to see this moving ahead,” noted Coquitlam Mayor Richard Stewart.
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