A West End tower developer has offered to turn over 102 social housing units at its project to the City of Vancouver.

According to a city staff report to council, the public housing units are worth $70 million.

The proposed 60-storey residential tower is to be built at 1059-1075 Nelson Street.

The project is subject to a rezoning application filed by Henson Development Ltd. on behalf of Nelson Street Residences Ltd.

The project features 328 condo units, and 50 units of market rentals.

The development site currently has two apartment buildings with 51 rental units.

The 102 social housing units included in the 1059-1075 Nelson Street project represent a doubled replacement for the old rental units at the location.

“Upon completion, an air space parcel containing all of the social housing units would be transferred to the City,” Theresa O’Donnell, deputy director of current planning, wrote in a report to council.

O’Donnell’s report is included in council’s agenda Tuesday (April 28), and it recommended referring the rezoning application to a public hearing.

O’Donnell explained that 30 percent of the social housing units will be rented to households with incomes required to afford below or at average market rents identified by B.C. Housing on a yearly basis.

The rental rates in these units will be no more than 30 percent of incomes.

“These units would target single person households and families with incomes in the range of $15,000 to $73,500 per year,” O’Donnell stated.

This income range translates to rents between $375 and $1,837.50 per month.

The remaining 70 percent of the social housing units will “target singles with annual incomes up to $74,150 and families with annual incomes up to $113,040”.

This income range translates to rents between $1,853.75 and $2,826 per month.

“The social housing component of the project will be managed as part of the Vancouver Affordable Housing Endowment Fund (VAHEF) portfolio,” according to O’Donnell.

A nonprofit will be selected to operate the social housing component of the West End development.

The social housing units will be exempt from payment of development cost levies or DCLs, valued at more than $2.6 million.

The condo and market rental units will be subject to DCLs totaling $9.3 million.

Henson Development will also allocate a budget of around $658,089 for public art.

In addition to the $70-million worth of social housing, the developer is handing over more than $80 million in public benefits from its project.

The 1059-1075 Nelson Street development will be a recognizable presence in the Vancouver skyline because of its appearance.

“The most distinctive visual feature of the tower is its curved outline…,” O’Donnell wrote in her report.

According to O’Donnell, this quality responds to the city’s Higher Buildings Policy, which provides that “new tall buildings establish a recognizable new benchmark for architectural creativity”.

The project will also set a new standard in terms of energy efficiency.

“If approved, the Nelson Street project would be the tallest Passive House building in the world,” according to a presentation by the developer.

Buildings designed to passive-house standards are 90 percent more energy efficient compared to average structures.

“As a nearly zero emissions building, the building would be a global leader in how cities can mitigate and adapt to climate change,” according to the developer.