The highly controversial Christie Point redevelopment, which will see the construction of 473 new apartments in View Royal, has been delayed.
According to a newsletter to area residents by Toronto-based developer Realstar Group, the number of other projects the company is moving forward with across the country means the redevelopment of the peninsula rental complex has been pushed back.
B次元官网网址淵ou will not be receiving your 12-month notice period in this calendar year, and to confirm that we are committed to maintaining your homes,B次元官网网址� said Hedayat Nasoody, vice president of asset management with Realstar in the letter.
B次元官网网址淣othing changes for now. Your leases with continue month-to-month as applicable and rental increases under the B.C. [Residential Tenancy Act] will continue to apply.B次元官网网址�
RELATED: Realstar agrees to grandfather rents for 33 units
In July, View Royal council voted 3-2 to rezone Christie Point, paving the way for the $200 million redevelopment that will demolish 161 apartments and replace them with 473 new ones in four to six storey buildings on the nearly 16 acre property.
The narrow vote came after a heated six-hour public hearing at the end of June that saw approximately 200 people attend B次元官网网址� roughly 55 of whom took the opportunity to voice their opinion.
Many residents expressed concern over being able to find affordable apartments in one of the tightest rental markets in the country. Others said the project was too dense and were concerned about the environmental impacts of such a large-scale project.
In response, Realstar will grandfather rent controlled units for tenants that have lived in the building for 10 years or more.
RELATED: People factor still central to Christie Point project
The development is the largest in the TownB次元官网网址檚 history.
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