Photo by Whitehorse Star
Mélodie Simard
Project would create 44 downtown condo units
A proposed development for Waterfront Place could add 44 new condo units to the downtown area.
A proposed development for Waterfront Place could add 44 new condo units to the downtown area.
Northern Vision Development’s (NVD’s) plans for Phase 2 of River’s Reach were brought forward at Monday’s council meeting.
It did so as council gets set to consider whether to approve a development incentive for the project.
The incentive could provide a grant to a maximum of $500,000 over 10 years to be applied to taxes based on the increase in land value due to the development.
Mélodie Simard, the city’s manager of planning and sustainability, explained of the development incentive policy, in a report to council: “This policy is meant to encourage specific development in the city, including rental housing, mixed-used development, multiple family housing and supportive housing.
“Under this policy, developments that meet the specified criteria are eligible for a yearly monetary grant from the City. The value of the grant is based on the increased taxes payable due to the improvements on the property.”
In this case, the project would be a mixed use development, with 22 condo units in each building at 36 and 38 Waterfront Place.
Along with the condos would be underground parking and some sort of public amenity not yet determined. NVD’s website notes the condos are anticipated to be available in the fall of 2019.
“Per the Development Incentives Policy, the proposed incentive category that the application contemplates includes the construction of an off-site amenity,” Simard highlighted in the report.
“An off-site amenity is intended for public enjoyment or benefit, and may consist of permanent arts, culture or recreational installations, or streetscape improvements such as boulevard landscaping and street furniture.
“The policy specifies that the minimum value for an off-site amenity should be $20,000 as evaluated by the city.”
NVD is considering options for street furniture along the waterfront, as well as other improvements that may be proposed in the Downtown Plan, it was noted.
Officials with NVD have also told the city the company is willing to provide $20,000 to the city in lieu of building the amenities.
Following the report to council, Mayor Dan Curtis commented he had understood the incentive policy was to apply to developments of rental units, with an eye toward expanding the city’s rental housing stock.
Mike Gau, the city’s director of development services, explained the policy – approved in 2011 and updated in 2015 – includes a range of potential developments, provided certain conditions are met.
Gau noted the policy is being looked at again by city staff. Potential amendments could come forward soon, and may have more of a focus on encouraging rental developments.
Council will vote on whether to approve the incentive for the development next week.
Coun. Jocelyn Curteanu was absent from Monday’s meeting.
Add your comments or reply via Twitter @whitehorsestar
In order to encourage thoughtful and responsible discussion, website comments will not be visible until a moderator approves them. Please add comments judiciously and refrain from maligning any individual or institution. Read about our user comment and privacy policies.
Your name and email address are required before your comment is posted. Otherwise, your comment will not be posted.
Comments (18)
Up 3 Down 0
north_of_60 on May 8, 2018 at 1:05 pm
@Priorities is clearly mistaken if they believe I've stated anything to support a tax grant incentive for this condo development. They should pay attention to what's actually stated in comments, not what they think someone said.
Up 4 Down 0
Priorities on May 8, 2018 at 12:17 pm
North 60: the question for a grant incentive is, is it the deal-maker or are we just giving it away and the project could be built anyway?
Is our Yukon economy now so incredibly dysfunctional and subsidy driven that even our best financed developer cannot make a pure private free market business case for ROI on building high-end condos to this income sector?
I built my own home to live in with my sweat and mortgage and I paid 100% tax from day one. So why exactly should your high-salaried government worker condo owners getting a 10-year break?
Up 1 Down 1
Larry L. on May 7, 2018 at 6:19 pm
Bravo to the Liberals for doing something about providing more housing units for people. We remember what happened to the Yukon Party smozzle for housing development projects. They got cancelled at the behest of the Real Estate agents because they thought real estate prices would fall.
Up 4 Down 1
north_of_60 on May 7, 2018 at 4:52 pm
@drum, Government workers can afford the new condos being built and they will likely rent their existing homes when they move out. Older homes are much more affordable rental units than building new social housing. If you want to see more government funded "rental, senior and social housing" then don't elect elitist Liberals.
Up 3 Down 2
drum on May 7, 2018 at 4:25 pm
I agree with "we need rental, senior and social housing" in this town. Who can afford those prices that Mah and Northern Vision will charge.
Up 13 Down 0
Hugh Mungus on May 4, 2018 at 5:12 pm
What a crock of s#@*. There is a glut of high end condos and homes. Why are taxpayers subsidizing one of the richest developers who are selling to Whitehorse’s richest citizens?
I’d be perfectly fine if YG subsidized developers who were building low income/social housing. Those are the people that need a leg-up, not those fat cats.
Shameful!
Up 2 Down 5
Wilf Carter on May 4, 2018 at 4:07 pm
Hay Ha Ha show your name. Another gutless wonder. Look at my background on linked in. Have you worked in different parts of Canada or for and with companies from other countries? Just can't handle the facts. You sound like someone we can all laugh at.
Up 5 Down 2
Priorities on May 4, 2018 at 1:13 pm
Reality - it is more expensive here but still government can add as many such income-qualified $1,000 rental units to the supply as it needs for one-time-only grants to NGO housing providers of approx. $50-$70,000 per unit. These would be an affordable legacy to northern living and development for decades to come. No further O&M support required. 200 units, wipe out the YHC wait list, for $10-$14 million total over 2 years. The government knows this but is actively choosing not to do it, supporting other priorities instead and a sprawling bureaucracy of middle management, policy analysts, communications advisors, strategies, plans and reviews from its $1.3 billion annual budget.
The development and real estate industry flipped out when even the Yukon Party government proposed such a program and had it cancelled.
Up 4 Down 1
Wilf Carter on May 3, 2018 at 11:07 pm
I looked at the investment $20 million is major for Whitehorse
Up 6 Down 4
Hahaha on May 3, 2018 at 5:43 pm
Is there anything Wilf Carter hasn’t done?
Why won’t Wilf save us from ourselves? Why?
Up 9 Down 0
Max Mack on May 3, 2018 at 5:09 pm
$500,000 to a developer is money that will a) not reduce what condo owners pay, and b) will simply result in my taxes going up again.
I am not ok with developers receiving "incentives" so they can line their pockets, and there is no proof that these incentives make or break these projects. And, I am really, really tired of tax/fee/penalty increases.
Up 5 Down 1
Reality check on May 3, 2018 at 4:33 pm
@ north_of_60:
To be honest - there is something between social housing and high priced condos. Rental units - plain and simple!
We lived in Whitehorse for years until we couldn't afford to live there anymore. Now we're on the east coast and there are many, many apartments for rent, some really well priced, some more luxurious and expensive. But these are normal rental units for everybody. We are renting a renovated 2 bedroom top floor unit for $ 1000 including parking, heat, and water!
So, why is this not possible in the Yukon? No developer? Greed? No demand? Or just total lack of common sense?
Up 7 Down 6
ProScience Greenie on May 3, 2018 at 3:35 pm
Breaking the artificially inflated housing bubble created and maintained by the real estate and development industry and their political flunkies would be the best and most ethical way to deal with housing issues, not giving them more and more corporate welfare.
Up 5 Down 5
This is a big project on May 3, 2018 at 10:11 am
This will employ a lot of trades people for a while, good for our economy and very much needed. This is good for the City because our city is so spread out. Density helps to offset cost of services in our city. Good economics also.
I have managed the development and construction of projects like this for years.
A lot of hard work and some headache problems.
This will cost millions of dollars to build.
Have fun developers.
Wilf CArter
Up 3 Down 3
Bil on May 2, 2018 at 8:44 pm
This development should free up lower cost housing and rentals as owners moved to new housing
Up 2 Down 6
What What on May 2, 2018 at 8:34 pm
Development incentives are not welfare. They are a good policy to support all ranges of growth, not just social welfare.
As a taxpayer, I am glad the City is supporting this development - just as pleased with the past support to the Salvation Army, Transition Home, Social Housing in Riverdale and the new Continuing Care Facility.
Up 12 Down 1
north_of_60 on May 2, 2018 at 7:09 pm
@What? thinks: "As done elsewhere, we need to start requiring a portion of all such developments to be given over to rental housing. "
That won't work. The people buying mid to high end condos don't want to live in a building with socialized low-rent public housing.
It's much better to build separate multiple units, government assisted, social housing units. There is room for such developments along South 6th Avenue, for example. The Yukon gets enough money from the Feds to do this, however the Territorial government would rather use that money to grow the bureaucracy instead of building low-rent public housing.
If we want more low-income housing then we have to elect socially responsible governments, not more self-serving elitists like we have now.
Up 11 Down 5
What? on May 2, 2018 at 4:06 pm
City giving grants to private developers to build high-end waterfront condos at $400,000+ is coco pops bananas when we have massive waiting lists for social, affordable and seniors housing.
As done elsewhere, we need to start requiring a portion of all such developments to be given over to rental housing. Sell those at cost to a NGO provider who can have the grants, run them at break-even for the long-term and mix up the demos of the neighbourhood.
This is shocking. Yukon's richest developer selling to our highest incomes needs to stand on its own feet, not be asking for taxpayer welfare.