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Unity Commons is a mixed-use, four-storey rental complex and ground floor commercial development in the City o... (view full profile)
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[Fairfield] Unity Commons (Fairfield United Church) | Rentals, commercial | Approved

Started by Kapten Kapsell , Aug 18 2016 06:38 PM

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144 replies to this topic

#141 Bob Fugger

Chief Factor

Member
3,190 posts

LocationSouth Central CSV

Posted 19 July 2021 - 02:38 PM

Hey gang - any update on this one? Inquiring neighbours would like to know. TIA.

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#142 Jackerbie

Member
3,776 posts

LocationRichmond, BC

Posted 20 July 2021 - 10:06 AM

All the permits are listed as On Hold and the Development Permit lapsed in March.

Might have run into the same issue as the Brighouse United Church in Richmond, which is now looking for new financing because they no longer qualify for the BC Housing program due to the huge increase in construction costs...

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#143 Kapten Kapsell

Member
3,542 posts

Posted 20 July 2021 - 10:12 AM

All the permits are listed as On Hold and the Development Permit lapsed in March.

Might have run into the same issue as the Brighouse United Church in Richmond, which is now looking for new financing because they no longer qualify for the BC Housing program due to the huge increase in construction costs...

I also wonder if this particular developer, owing to their small size, was more exposed to the increase in construction costs (and labour shortages).

There's only one subsidized/affordable unit here in the approved plans, and I suspect that their new DP application (once they get financing) will likely be for 100% market rentals.