District of North Vancouver council is considering a new condo project that, if approved, would include the first ever purpose-built housing for Capilano University students.

Facing “serious, immediate and expensive infrastructure and maintenance issues” that could cost upwards of $100,000 per unit, the owners of a 40-year-old, 90-unit strata complex at 1923 Purcell Way voted to dissolve their strata and sell the land.

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Woodbridge Northwest Homes is now looking to build 124 condo units, 60 townhouses and another 60 microsuites which would be owned by Capilano University and rented exclusively to their students.

The property would hold two six-storey buildings and three four-storey townhouse buildings. The plan also includes 276 parking spaces (although none for the students), and space for 408 bicycles, including one per student housing unit.

The student housing units would be approximately 200 square feet with room for a bed and a desk, as well as micro kitchen and private bathroom. Student residents would also have communal spaces for laundry and studying.

While the student housing building would be on campus-owned land along Greg Lee Way, 1,217 square feet of land would have to be transferred to the university and rezoned for the deal to go through.

If approved, the developer will provide new residents with a bus pass as well as pay for improvements to nearby bus shelters and trails. The district would also receive $1,698,940 in community amenity contributions for the redevelopment.

In a letter sent to council by the strata council last year, the owners characterized their decision to sell as a difficult one but the best option available to them.

“The support for this redevelopment has not been an easy decision on the part of our ownership. It does not represent a financial windfall. The payout will range from $295,000 to $388,000 per unit. For owners who have recently purchased into the complex and/or invested in renovations, this may result in a loss. For all 90 owners, this was an unforeseen and unplanned circumstance, with implications beyond financial,” strata president Penny Chester wrote.

At least one of the holdouts not wanting to sell turned out to council Nov. 6 to decry the “unfair” process that had led them there. Jodie Bergeron said the developer’s offer was based on the assumption that the district would not increase the density allowed on the site.

“The community that makes up the owners of this complex are retired fixed-income people, single parents, single individuals with one income, parents with small children, individuals with compromised abilities and disabilities and a few that fall outside those parameters. There is little chance any of us can afford to stay here regardless of the diversity or mix of unit stiles. We’ll be priced out of North Van and the Lower Mainland completely if this goes through,” she said.

The public is invited to have their say on the redevelopment at a public hearing on Tuesday, Nov. 21.