Rent-to-own scheme in condo project wins over PoMo councillors

A series of changes made by The Panatch Group to its proposal to build 358 condo units at 50 Electronic Ave. seems to have won the favour of Port Moody council.

At its meeting July 10, council gave third reading to a series of bylaw amendments that would allow the project — two six-storey buildings with 18,000 sq. ft. of commercial space on the ground floor of the western building — to proceed.

When council gave the project first and second readings in June, some councillors expressed reservations about its lack of affordable units, impact to traffic on Murray Street and a lack of community amenities beyond a commitment to a public art project.

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