Riverview Planning Committee Approves 10-Storey Towers Despite Opposition
RIVERVIEW – The town of Riverview’s Planning Advisory Committee approved Wednesday night variance changes proposed by Cordova Realty to allow the building of two 10-storey towers where the Fundy Chocolate River Station is located on Coverdale Rd.
Cordova Realty, a real estate and land developer based in Moncton, wants to turn 395, 391 and 383 Coverdale Road into a 150-unit apartment building with commercial space on the first two floors.
In its variance application, the company asked to allow a building with more than 1,500 square metres of gross floor area, reduce the front yard setback from 4.5 metres to zero metres, locate development within 30 metres of the Petitcodiac River, increase height of a multiple unit building from four storeys to 10 storeys, vary the location of street trees, and reduce the landscaping buffer required for a multiple unit building.
The company’s VP of development Ron Lord said the project is pegged in the mid-$30 million range.
“It’s going to be a great capital investment on the equity side and some lenders from around the area. Really, the final budget has not been determined. There’ll be significant infrastructure with the town that will be private sector-driven,” he said.
Given the proximity to the river, Lord said a preliminary geotechnical engineering study shows the development is viable.
“We do need to do further work to understand what the foundations of the buildings would look like but it’s not a major concern at this point,” he said.
Besides, Lord believes Greater Moncton needs such a development, with housing vacancy rates being as low as 2.7 per cent, according to 2018 data from the Canadian Mortgage and Housing Corporation.
He said a mixed-use building would also help downtown Riverview businesses to thrive. Lord said no retailers have confirmed they’ll be using the commercial space on the first floor of the towers, but Cordova has had preliminary conversations with businesses that are currently at the Chocolate River Station.
Mayor Ann Seamans said she’s very excited and that the development is a “game-changer” for the town, though it’s not yet a done deal. Cordova still has to buy the Chocolate River Station and adjacent parking lot from the town. Right now, no formal sale process is in place yet.
“Unfortunately there’s an awful lot to be done before it is a done deal. We hope that all goes positive for the developer but there are no guarantees,” she said.
Seamans said the tax revenues the development will bring will be “amazing,” with the town expecting $500,000 a year of revenue for at least five years. The town has been going through financial woes. Last year, it had to cut its 10-year capital budget by $28 million because the tax base didn’t grow as desired.
“This is in an area where we don’t have to build streets, we don’t have to do things. It’s not going to cost us a lot of money to have this growth. So it’ll be phenomenal for the town,” she said.
Cathy Beardsworth, who lives three blocks away from the proposed development site, was among residents who voiced their opinion to the PAC. She believes the development will be “really good” for the neighbourhood and town, though she’s concerned traffic issues have not been discussed and worked out properly.
“You know, what makes a community is people walking around and walking the dogs and riding their bikes. And people using the area,” she told reporters after the meeting.
“I think we need more residential density. I think it’s far better than having another fast food place. It looks like it’s going to be a high-end [building]. There have been lots of considerations of design. I think it will enhance the waterfront, not detract from it. They’re going have it open so that we can use the trail just as it is or similar to how it is, so I’m very positive about it.”
Dave Cudmore, a former councillor for the town, said Riverview needs development like this if it wants to survive.
“I believe this will be an anchor for the future,” he said to the PAC.
Opposition
But many at the meeting weren’t as supportive of the proposal. One resident pointed to an online petition opposing the planned development. As of the writing of this report, 1,282 people have signed the petition.
Some residents expressed concerns that the town would lose its unique old fire hall, which is now the Chocolate River Station. Others are concerned the town would lose its charm, that the new building would add traffic to the congested Coverdale Rd., that the waterfront would be ruined, and that the community could lose its view of the Petitcodiac River.
One of the people concerned was John Godfrey, the owner of Homestead Restaurant, which has been on Coverdale Rd. for 28 years. Godfrey is worried that a massive development like this, which would change the character of the town, isn’t being weighed properly. He asked for more studies and community consultations to be done.
“To go from a four-storey maximum in a community this size to a twin 10-storey buildings – to me that’s a major change in variance and deserves very serious attention,” he said. “It’s a fundamentally very major change to our community. At this stage, I don’t know at the end of the day whether I’m for it or against it. I just hope that it be given the serious attention that it deserves and that the people of Riverview do get an adequate chance to talk and voice their opinion.”
He’s also worried that allowing such a development would cause a precedent of more high-rises that changes the town’s skyline.
“I’m in favour of growth in my hometown. My concern again is, it’s a major fundamental change to the town’s plan and it’s been swept through like an everyday occurrence,” he said. “I guess I was very surprised that there wasn’t more turnout and that there wasn’t more time given to the project.”
But both Seamans and Lord aren’t concerned
“People don’t like change of course. But once it happens – most of us, I know myself I’m pretty impressed. I wouldn’t mind living there myself and be able to watch the tides going and get on the trail and go. I think it will be attractive to all ages of people,” Seamans said.
“it’s been very clear that they’re passionate about their community and they enjoy the quality of life that they currently have. And we’re looking to enhance that. So I think when we have the chance to show the rest of the plan, figure out the rest of the details, do the engineering and really present that to the community, I think that’ll answer a lot of these questions that we’re currently receiving,” Lord said.
The development still needs to go through several steps before the building permit can be issued. The steps include fulfilling all the conditions imposed by the town staff, which include the addition of a bike rack, integration of public display or art, and submission of a valid wetland and watercourse alteration permit from the province to the town, among other things. Cordova also has to conduct further geotechnical and environmental studies. Staff also asked that the developer obtain the building permit within three years of the PAC’s approval.
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