Coquitlam YMCA
132 Queens Quay East, Toronto, Ontario
Type: New construction
Size: 58,700 sf
Project Cost: $101.1 million ($57 million in City contributions)
Development Partners:
- City of Coquitlam
- YMCA of Greater Vancouver
- Concert Properties
Status: Anticipated completion 2023
Description
Located around the recently completed SkyTrain station (2017), the Coquitlam YMCA is a community recreation centre that contains a community policing station, recreational and athletic facilities, a daycare, multi-purpose spaces, studios, cafes, and an underground parkade. It is part of a larger 8-acre redevelopment comprising 8 mixed-use towers with affordable, rental, and market units and commercial uses.
Land
A key component of the agreement was a land swap, where the city-owned 1.3 acre parcel at Burquitlam Park was exchanged for a 2.55 acre portion of land owned by Concert Properties next to Cottonwood Park. The newly converted city-land was necessary for the expansion of Cottonwood park, and the parcel obtained by Concert Properties is the subject site for the YMCA mixed-use facility.
User Interaction/Partnership Framework
In 2016, an Agreement-in-Principle was negotiated, forming a tri-party partnership between the City of Coquitlam, the YMCA of Greater Vancouver, and Concert Properties. The developer’s project entails 8 mixed-use towers containing around 2,700 homes.
In exchange for the additional density, Concert Properties is providing affordable housing and community amenity contributions worth over $100M. This includes approximately 900 rental and 100 below-market rental units. They will also be responsible for providing significant improvements to the public realm, including the expansion of the existing Cottonwood Park to almost double its size for a total of 4 acres. An additional $700,000 in contributions for park improvements are dedicated to new sports fields, courts, and outdoor furniture within the park.
The City’s deal with the YMCA is a 50-50 co-ownership agreement. Despite construction costs being split fairly evenly between the two partners, the City is able to pay for most of it through developer contributions. The final complex will house a new Community Police Station, providing a permanent home to a nearby leased police station.
Costs / Funding
The total project cost is anticipated to cost $101.1M, with the City’s share being $57M. Costs are broken down into components of: the YMCA Facility ($76.5M), the Community Police Station ($4.7M), the Park-and-Ride ($11.6M), off-site improvements ($8.3), and additional costs ($3.7M).
The $76.5M YMCA Facility component will be paid by the City (through developer contributions) and YMCA. The City of Coquitlam will collect $38.3M from the developer in the form of Community Amenity Contributions (CACs) at no additional cost to taxpayers. The YMCA will contribute the remaining amount of $38 for the facility’s construction, which will be multi-sourced, including a community capital campaign.
Costs for the Park-and-Ride are split between the Concert Properties and the City, split $6.1M / $5.5M respectively. Each party will also pay half of the off-site improvements.
The City will also be solely responsible for the Community Police Station at a cost of $4.7M and contribute an additional $3.7M for general costs.
Questions?
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