Wensley Architecture has filed a rezoning application on behalf of the Molnar Group for a rental building along Renfrew Street under the City’s Moderate Income Rental House Pilot Program.
That program requires 100 per of the residential floor area be secured rental housing and at least 20 per cent of the floor space be targeted to households earning between $30,000 and $80,000.
The latest application is for a six-storey, 70-unit rental building at 2603 to 2655 Renfrew St. across the street from the first location, just south of East 10th.
Both applications will be presented at a June 25 open house.
The 70-unit building would feature 15 studios, 30 one-bedrooms, 10 two-bedrooms and 15 three-bedrooms suites, as well as commercial space at grade level. The total floor space (FSR) ratio proposed is 3.19.
Targeted maximum average starting rental rates for “moderate income” units under the MIRHPP are $950 for a studio, $1,200 for a one-bedroom, $1,600 for a two-bedroom and $2,000 for a three-bedroom. Rent increases for those units are also capped at the B.C. Residential Tenancy Act annual increases regardless of turnover.
The open house runs from 5 to 8 p.m., June 25, at the Italian Cultural Centre.