Thanks to a re-zoning application in Edmonds Town Centre, $14 million may be deposited in the community benefit account in the future.
Council approved a cash-in-lieu contribution as the community benefit from a rezoning application at the northeast corner of Kingsway and Edmonds Street at Monday night's meeting, which will boost the account up to $14 million.
Last July, council considered a rezoning application for a mixed-use multiple-family residential and commercial development comprised of three high-rise apartment towers and a lower office building on a two-storey retail podium.
The development is expected to have a gross floor area of 626,840 square feet and the value of the amenity bonus is $70.50 per square foot buildable.
