A new rental development project is expected to be ready in Whistler by 2026, according to a staff report to RMOW.
At a council meeting today, RMOW staff will seek the council’s endorsement for Cheakamus Crossing Lot 5 Project, a rental development that will offer 104 residential units. Lot 5 is a 10,194 square metre land parcel located at 1475 Mount Fee Road on the western side of the road.
The plan proposes two, 4-story wood frame apartment buildings over a one-and-a-half-story parkade, with 104 units. There will be 24 studios (12 designed to be universally accessible), 40 one-bedroom units, 32 two-bedroom units, and 8 three-bedroom units.
Staff are seeking Council direction to work with Whistler Housing Authority and Whistler Development Corporation on a housing agreement that will limit the use of Lot 5 to rentals only. The housing agreement will also establish occupancy and eligibility restrictions and maximum rental rates.
“The buildings offer a range of unit types that will suit a wide variety of households. The unit designs are influenced by feedback from recent employee housing buildings and the WDC Planning & Development Committee, as well as affordability parameters,” notes a staff report to council.
Potential tenants will be taken from the current waiting list of Whistler Housing Authority, which is currently made up of single-employee households followed by couples.
WDC is proposing rents of $3.81/sq.ft for financial planning purposes, which it says is the minimum economic rent the project needs to meet or exceed to be viable. The rental project is expected to be ready in three years and will cost $47.7 million.