The apartments will be aimed at the 50-plus age group.
Councillor Pat Culhane questioned Geertsma about when he would know the number of rental units versus ownership.
Carr added, “I think we see the appetite moving from rental to ownership and so it’s a matter of making sure, obviously, that their costs are covered. There is some concern there but I think the fact they’re looking at something versus nothing is a good sign.”
The report to the committee indicates the city will have a surplus of commercial land, therefore rezoning the commercial property for residential use will not comprise the city’s complement of commercial lands.
Staff will bring back a report on the project to the committee next month.