A housing agreement requires that all residential units in a soon-to-be built highrise be secured as rental housing for the foreseeable future.
A housing agreement bylaw recently supported by New Westminster city council requires that all of the units - including 10 below-market rental units and 328 market rental units – at 612 Seventh Ave. be secured as rental for 60 years or the life of the building, whichever is longer.
The 29-storey highrise will include retail facing Sixth Street and a public plaza.
It’s being constructed on a site formerly known as 616 to 640 Sixth St.
Demolition of the existing buildings on the site is now underway. They have housed a number of local shops, including the Waffle House, New West Cobbler and other office and retail space.