City administration is recommending that city council approve two development incentive agreements for multi-residential projects.

KBC Developments Inc. is moving forward with a five-storey, 73-unit apartment complex along Range Road in the empty lot across from The Barracks.

The lot is the site of a former heating plant that sat abandoned before being demolished a number of years ago.

The building – whose cost was not mentioned at the council meeting – will provide supportive, rental housing for seniors.

KBC has applied for the incentive the city provides to developers who add to the stock of rental or supportive housing units in the city.

Under the policy, developers are eligible for up to $500,000 over 10 years.

The annual maximum payment of $50,000 is granted back to the developer after the property taxes for that year have been paid in full.

City planner Mike Ellis told council the project will add substantially to the tax base.

“The five-storey building consists of 73 studio, one-bedroom, and two-bedroom units,” says the administrative report.

“There is also a significant supportive housing component to the building, which includes shared dining areas, exercise area, a salon, and reception/staff offices. Underground parking is also proposed.”

A development permit for the project has already been issued by the city, says the report.

Ellis told council that because not all the floor space will be for residential purposes, KBC might not be eligible for the full rebate, but it will be close.

“This project is a great fit for our development incentive policy,” Coun. Steve Roddick told his council colleagues.

“This is the type of development I would like to see.”

A development permit has also been issued for an apartment complex of four rental units at 807 Wheeler St.

Developer Kevin Harms has applied for the incentive, and administration is recommending approval.

The administrative reports point out city staff are currently drafting updates to the incentive policy that will be brought before council this summer.