City staff is recommending that council approve the development of a six-storey building near the College/Edinburgh intersection.
In a report going to council on April 12, city staff recommends that city council permit the development of the apartment building by a numbered company which will contain 110 apartment dwelling units and seniors day-use or a day care centre on the ground floor.
The building application submitted October 2019 previously stated that it wanted to build 116 dwelling units.
The proposed Official Plan Amendment seeks to re-designate the area from low density residential and medium density residential to high density residential.
Out of the 110 apartment dwelling units ,11 are 'grade-related townhouse' units. The 537 square metre non-residential space will be used for a seniors day-use or day care centre.
There would be 78 underground garage parking spaces and 55 surface parking spaces to the rear of the building bringing the total number of parking spaces to 133.
Based on the 2020 residential rates, the estimated development charge for the building is between $1.2 to $1.5 million. Based on the 2020 city tax rate, the annual estimated tax rate for 110 rental apartment units is $117,500 and $11,300 for the seniors day use or day care centre.
If approved, the building would replace the existing single-storey College Place Retirement Residence at 166 College Ave. W. and the adjacent lot.
The 1.68-acre site has 105 metres of frontage on College Avenue West.