Amendment to CD-1 Rezoning 1405 Main Street and 1510 Quebec Street — Include 20% Inclusionary Below Market Housing (Fry Amendment) — Public Hearing, February 10, 2026

Motion 1 Defeated

Moved by Pete Fry

Summary

Councillor Fry proposed requiring 20% of units to be below-market (inclusionary) rental housing as a condition of the rezoning.
Supporters argued the city, as trustee of public land, should meet the same affordability standards it requires of private developers, particularly on a transit-oriented site.
Opponents argued the amendment would undermine the project's financing model, which depends on fully market rents to service an estimated $700 million in construction debt, and that revenue generated could instead fund affordable housing elsewhere.
The applicant confirmed that adding below-market units would likely require a substantial public equity injection from senior governments, which is currently unavailable.
Defeated: Mayor Sim and Councillors Kirby-Yung, Dominato, Montague, Meiszner, and Zhou voted against; Councillor Maloney abstained.