A proposed private 532-unit student housing development adjacent to the University of Guelph would likely include purchased condominium units, not just straight rentals.
The owner of the development, which the U of G has no connection with, would handle the renting out of the units and management of the property either way, a public meeting on the proposed development at 716 Gordon St. heard at city council Tuesday night.
Aventus Developments wants to build a four-tower, 532-unit private student residence at 716 Gordon St., on the southeast corner of Gordon Street and Stone Road.
The four towers would be 11, nine, eight and six storeys. The 532 units would have a combined 1,149 bedrooms.
The location is the former home to a hotel that held different brands over the years, including Best Western and Ramada Inn for many years.
"I wouldn't be able to speak to that," said Aventus lead architect Mark Villemaire said when asked if the units were condos or straight rentals.
There was also no price point provided, saying it was too early. "It's very early in the process," said Villemaire.
"I'm not positive on what they plan on doing when they go to market," Villemaire said when asked if the units were rentals or condos by Coun. Phil Allt.
"Units are sold sometimes to investors, Aventus rents out the units," Villemaire said when pressed further, adding that either way, someone looking to rent a unit would reach out to Aventus' property management arm, who will be running the property.
"Did I hear that the intention was to sell them to investors?" asked Coun. Linda Busuttil.
"They're designed so that they could be, but the actual developer would have to say if that's their intention," said Villemaire.
City planning staff pointed out that whether the units are condos for purchase or apartments for rental doesn't matter at this point and isn't part of the decision making process.
Coun. Rodrigo Goller said "my concern is that this will not actually support our affordable housing targets," Goller said, asking that the project be dedicated rental units, not condos.
Aventus is seeking a number of zoning amendments, including density, setback and parking changes. They are also seeking a 'private post-secondary student residence' designation rather than a "specialized apartment" designation.
That worries Coun. Dominique O'Rourke.
"We need to be really cautious around the definition," she said.
Aventus Developments specializes in building student housing developments, with other developments in Waterloo and London.
No decision was made Tuesday. Staff will review the proposal and come back to council with a recommendation.
The proposal would have 303 parking spaces, where 532 are currently required for what is being planned. The proposal does have 590 bicycle parking spaces.
The majority of the units (380) would be one and two bedrooms, with 150 of them three or four bedrooms. There are some studio units.
The U of G has expressed concern about possible overflow parking, given that there are only 15 parking spots designated as "visitor"s spots.
Delegate Bill Mungall said he was generally in favour of the project, but expressed concern about "the nuisance of noise from this development," including three terraces that could be licence for alcohol.
He asked that any approval not include terraces.
Delivery trucks, overflow parking, tree removal and setback reductions were concerns expressed by representatives of the Mayfield Park Community Association, a group representing nearby residents.
Tim Law, lawyer for the community resident's group, questioned changes in density definition, from people to rooms. He also spoke on increased vehicular and pedestrian traffic at the busy intersection.
"There will be a relatively enormous addition of humans walking around that intersection," Law said. "In short, the way the intersection presently exists is going to have to be examined."
