Clarifications on the proposal for development by Cordova Realty

A recent application submitted to the Planning Advisory Committee has triggered discussion in the community and we want to provide clarification on the matter.

1. The Town of Riverview launched its Financial Incentive Program for new development in September 2018 with a goal of attracting new high-quality residential and commercial development to stimulate the tax base.
    
2. Early in 2019, the Town received an unsolicited proposal from Cordova Realty to purchase the Town’s property for a development concept on riverfront that combined both lots.  The proposal is for a 150-unit residential building with mixed-use commercial space. This type of development is permitted per the Town of Riverview Zoning By-Law, however this particular application includes variances to the Zoning By-Law affecting such things as setback and height and must be approved by the Planning Advisory Committee (PAC).
    
3. The PAC is an independent body authorized by New Brunswick’s Community Planning Act to provide advice to Council on planning matters, to permit similar/compatible uses under the Zoning By-Law, and to approve applications involving variances, terms and conditions. It is scheduled to meet to consider Cordova Realty’s application for variances and conditional uses on Wednesday, April 10, 2019 at 6 p.m. in Council Chambers.
    
4. Per the Community Planning Act, the application to PAC was published on townofriverview.ca. and property owners within 60 metres of a property which is the subject of a variance were notified by mail or personal delivery at least 10 days prior to the meeting, of the time, date, and location of the meeting, as well as the nature of the application being considered. Those property owners were invited to submit views or concerns by letter or in person before the Committee. The PAC Chair will hear comments from those individuals or anyone wishing to speak.
    
5. In a closed council meeting, Council directed staff to negotiate a purchase and sale agreement for the Fundy Chocolate River Station with the following parameters: a defined purchase price range; ensure the Town maintains access to the trail network; maintain public access to the existing parking lot; discuss the potential location of the Town’s Visitor Information Centre in the new facility. Council holds closed session meetings when information, if made public, could jeopardize negotiations leading to an agreement or contract or the disposition of land. 
    

Next steps: 

The next step in the development process is for Cordova Realty to apply to the Town’s Planning Advisory Committee (PAC) for their consideration of the development plan, including the proposed variances. If the PAC authorizes the variances, Cordova Realty will still have several actions to complete before construction will occur. Those actions include but are not limited to environmental assessment, geotechnical assessment, detailed designs and plans needed for a building permit approval, and the terms and conditions of the purchase and sale agreement for both parties must be met.