The short term incentive rental (STIR) program could create long-term headaches for city hall.
Millennium English Bay Properties plans to build a 20-storey tower with 98 condominiums at 1201-1215 Bidwell St. through a density bonus based on the inclusion of 49 rental-housing units.
West Ender Randy Helten said mayor and council have kept the scope of the potential bonus awarded to Millennium from the community, where neighbours and families still wait on the city to propose a sustainable long-term vision for future development.
"We can't see the process in public view," Helten said.
Under STIR, certain development fees are waived on the guarantee a unit as small as 320 square feet remain a rental property for 60 years.
Council killed a motion Nov. 3 by Coun. Suzanne Anton asking for transparency about the costs and benefits of bonus density at the Bidwell site.
Former city councillor-turned Millennium consultant Jim Green said the STIR program allows developers to build much-needed rental housing.
Public hearings in the rezoning of the Bidwell site continue tonight at City Hall.
"We can't see the process in public view."
