The “King George Hub” project took another step forward after council gave the early nod to phase 3 of the project, which entails building a 34-storey mixed use tower next to Coast Capital Savings’ headquarters.
City council gave first and second reading to phase three on Monday (Sept. 17), and a public hearing has been set for Oct. 1.
The tower, if approved, will have 471 residential units and 9,322-square-feet of ground-floor commercial retail units.
Phase one of the Hub project was the 10-storey Coast Capital building that was completed in 2015, adjacent to King George SkyTrain station.
Phase two — which is under construction after being approved by council on June 26, 2017 — involves the construction of a stand-alone two-storey restaurant, single-storey retail podium, two residential towers (40 and 29 storeys) and a 15-storey office building. Although the developer has recently asked for an increase in density for this phast, and in lieu, to reduce the maximum floor area ratio in phases one and four. The developer now proposes ground-floor commercial retail units and a residential tower instead of the originally proposed office tower.
This third phase — on a 7.1-acre property at the northeast corner of King George Boulevard and Fraser Highway — is “intended to complete the Coast Capital Plaza on the ground plane” and “enclose the plaza with a podium street wall.”
The developer, PCI Group, seeks a reduction in indoor amenity space (from 11,980 to 11,453 square feet, and to pay $19,200 to the city to address the shortfall) and needs council’s approval to rezone the property to allow for multiple unit residential.
Proposed amenities for the tower include an outdoor dining area, a playground and climbing play feature, a theatre, two lounges and an “extensive green roof.”
In a recommendation to council, city staff note the development “conforms to the goal of achieving high density, mixed-use development nodes around SkyTrain stations,” noting the proposed tower is 525 feet from the King George stop.
So far, city staff say there have been no concerns raised from locals after pre-notification letters were issued on July 10.
As part of the overall project, several lots were conveyed to the city to create an internal road network, to be called George Junction, as well as the widening of Whalley Boulevard and for future light rail infrastructure adjacent the SkyTrain corridor.