A&T Project Developments Ltd., out of Kamloops, is looking to build the development, in four phases, slated for the land between City Hall and Queensway Street, north of Connaught Hill.
The site would also include a city parking facility below the condominiums that would provide nearly 290 new underground parking stalls downtown, with an additional 64 surface parking spaces.
The proposal includes a provision that 133 of the new underground parking spaces would be reserved for condominium residents at a reduced rate. The value of the city assistance to be provided during the 50-year term of the agreement is estimated at $94,914 per year.
In return, A&T Developments will be delivering what the city has wanted for decades … housing in the downtown core.
The proposed partnering agreement will be considered by council at its next meeting on December 18 at 6 p.m. The meeting will also be livestreamed on the city website.
A&T Developments Ltd. is based out of Kamloops.
A&T Developments Ltd. was founded 25 years ago by its current president, Jeff Arnold. He has a formal education in business administration and decades of experience in the construction industry.
He is a Canadian Construction Association Gold Seal Certified Project Manager.
The company has built more than 1,000 residential, commercial and multi-family projects.