Maple Ridge council OK’d a customized development zone late last month, allowing one of the city’s major developments to proceed.
Third reading was given to the zone that allows residential, commercial, office and educational space on the site which stretches from Plaza Street to 224th Street, on Dewdney Trunk Road, said a city news release.
SwissReal announced in 2017 its plans for the site that stretches to Brown Avenue and will see construction of several towers and 900 housing units over two blocks in the downtown.
The first stage of the seven-phase development is valued at $60 million and demolition is already under way on the site of Haney Plaza at the western end of the site. Construction starts early next year.
“By any measure, this is a transformational development for our city and will be a catalyst for the next evolution of Maple Ridge’s city centre,” Mayor Mike Morden said in the release.
The development will bring in more than $2.3 million to the community amenity reserve fund over the life of the project, Morden said.
New office space, public areas and art displays will be part of the project.
Council will review each phase of the development as the project moves forward in the coming years, the release said.