Ald. Bill Bell criticized a housing trend that is pushing area residents out of their homes, and cutting .down on the number of rental units in the city after hearing con- dominiums to be built on the old Olympic Hotel site will cost be- tween $160 to $190 per square foot — _ a figure aimed at undercutting the prices of suites in Cressey Cor- poration’s 28-storey tower on the old St. Alice Hotel site. Bell said there would be a ‘‘fair- ly significant change in the lifestyle of the people down there.” A representative from Fama Holdings, the company developing the Olympic Hotel site, agreed NVC Council plans more fish farm restrictions NORTH VANCOUVER District Council has moved to prohibit new fish farmiz:¢: operaticns within the district. If a new amendment to the zon- ing bylaw is passed, the keeping of fish as a permitted use within the PRO (Parks, Recreation and - Openspace) zone will be eliminated “‘except for the keeping of fish ‘designatcd for the replenishment of fish stocks.”’ Salmonid enhancement pro- grams approved by senior levels of government will not be affected, because the proposed amendments specifically allow for operations similar to those of the Seymour * Salmonid Society in Deep Cove. - And because bylaws are not en- forced retroactively, the fish farm operated by Pacific Aquaculture Ltd. in indian Arm will become legally non-conforming and will be permitted to continue its opera- tion. However, in-camera minutes made public at Monday night’s council meeting reveal that North Vancouver District has withdrawn its consent to the proposed expan- sion of the four-pen fish farm to 18 pens, and, as the uplanc owners of Pacific Aquaculture’s water lot lease, confirmed that four pens are the maximum allowable. Approval for Pacific’s new fish farm site was given in June by the Vancouver Port Corp. after port officials concluded that all federal and provincial fish farm criteria had been met by the company. North Vancouver District, which has authority over any land-based portion of the farm’s operation, informed Pacific in March that it would have to move from its orig- inal Indian Arm site because the expanded on-shore portion of its operation conflicted with area single-family zoning. Some residents in the area were also opposed to the farm and Pacific's exparsics. plans. The new fain: sitc, which is ap- proximately two kilometres north of the original site, was suggested by North Vancouver District after Pacific appealed to the municipali- ty for an alternative to the original site. Pacific will meet with district representatives in September to discuss the situation. The public hearing of the pro- posed bylaw is set for Sept. 25. By CORINNE BJORGE Contributing Writer with Bell that there would be a big impact in Lower Lonsdale, saying the area was currently underdevel- oped with ‘‘derelict buildings.” “The condominium market happens to be the buoyant one at the moment. These people are probably better off in rental hous- ing,’’ said representative Kelly Gessener. But Gessener said fer company would be happy to build rental housing if it were profitable for the developer. ‘‘We’re prepared to build rental housing if we can fit into a program that makes it eco- 3 - Wednesday, August 30, 1989 - North Shore News Trend towards condos will impact on £. Lonsdale lifestyle, council told CONDOMINIUM DEVELOPERS that charge per square foot what some residents pay per month in rent will change the nature of the community in the Lower Lonsdale area, North Vancouver City Council] members heard Monday. nomically viable,”’ said Gessener. She said Fama Holdings is cur- rently examining the possibility of receiving subsidies for rental hous- ing construction made available through B.C. Housing Corpora- tion and the Canadian Mortgage and Housing Corporation (CMHC). Ald. Barbara Sharp suggested the building of rental housing might be made viable for devel- opers if land could be made avail- able without requiring them to purchase the land. The city cur- rently owns land in the Lower Lonsdale area. “The land cost is a major fac- tor,’’ agreed Gessener. ‘‘We could do a rental project on that basis,”” she said. Sharp said there could be a “significant drop below market’’ in the rental housing prices if de- velopers did not have to add land