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Review of Draft Community Amenity Policy District of North Vancouver

Review of Draft Community Amenity Policy District of North Vancouver. Coriolis Consulting Corp. November 2009. Policy Summary. Existing zoning single detached (FSR 0.4) Rezone to townhouse (FSR 0.8) FSR gain = 0.4 Value of 7 existing lots = $4.8 to $5.1 million.

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Review of Draft Community Amenity Policy District of North Vancouver

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  1. Review of Draft Community Amenity PolicyDistrict of North Vancouver Coriolis Consulting Corp. November 2009

  2. Policy Summary

  3. Existing zoning single detached (FSR 0.4) • Rezone to townhouse (FSR 0.8) • FSR gain = 0.4 • Value of 7 existing lots = $4.8 to $5.1 million. Case Study 1: Lynn Valley TownhouseSunnyhurst Road, 7 lot assembly

  4. Case Study 1: Financial Analysis

  5. Case Study 1: Conclusions

  6. Existing zoning single detached (FSR 0.4) • Rezone to high-rise (FSR 3.0) • FSR gain = 2.6 • Value of 16 lots plus lane = $9.0 to $10.5 million. Case Study 2: Lower Lynn High-rise Fern Street 16 lot plus lane assembly.

  7. Case Study 2: Financial Analysis

  8. Case Study 2: Conclusions

  9. Townhouse rezoning can support small amenity contributions if rezoning costs are low. • Basing townhouse amenity on total cost rather than lift in land value has problems. • High density rezoning supports large amenity contribution, but rezoning cost and risk will reduce potential. • The policy works if developers buy land based on existing value, build in an allowance for the amenity contribution, and perceive rezoning process as reasonable. • Policy would work better if DNV pre-zones land with provision for amenity contribution via density bonus. • Policy could be improved by setting fixed contribution rate for new space by type of project. Conclusions

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