A Vancouver-based developer says it has met all the requirements from the City of Port Moody as it applies for rezoning to allow its massive redevelopment of the Coronation Park neighbourhood.
The project includes 2,665 units in six towers up to 31 storeys, as well as a rental building, office and commercial spaces, two daycares, a park and city amenity space to be constructed on a 14.8-acre site at the corner of Barnet Highway and Ioco Road.
The neighbourhood is currently occupied by 59 single-family homes.
Wesgroup Properties said, in a letter Jan. 27 addressed to Port Moody’s land use committee, that its redevelopment plan for Coronation Park complies with the city’s long-term vision of its official community plan (OCP) for the area, which includes construction of a 2.55-acre park and 2,000 sq. ft. amenity space — to be owned by the city — a mix of market and rental housing, including 10 per cent of units dedicated for seniors — along with the childcare facilities, and improved pedestrian and cycling connections.
Wesgroup also said the project’s density is compatible with the community’s needs, given its proximity to the Inlet Centre SkyTrain station right across Ioco Road and further developments being proposed in the area.
As well, the company said its plan to provide a rent-to-own program for all 101 rental units addresses the city’s concerns about affordability and the project will provide 24,000 short-term and more than 1,000 long-term jobs.
But a staff report said Wesgroup should consider increasing the number of rental units, as well as the amount of office space, so the city can attract a wider range of employers, including high tech and professional services.
Port Moody senior planner Wesley Woo said Wesgroup should also do more work to improve places in the project where residents can gather to enhance their well being.
But, Woo noted, “the review process is starting from a good base” that includes several positive aspects like business and job creation, local shopping opportunities, a pedestrian-oriented environment and accessibility improvements.
Port Moody’s land use committee meets Monday (Feb. 6) to offer its assessment of Wesgroup’s plan.
In January, Coquitlam council gave unanimous approval to first reading of Polygon’s redevelopment of Coronation Heights, right next to the Coronation Park site.
If realized, it will be comprised of 2,835 new homes in six condo towers and three purpose-built rental towers, along with a 27,000 sq. ft. amenity building, 3,600 sq. ft. of retail space and two childcare facilities for at least 79 kids.
That plan is scheduled to go to a public hearing on Feb. 27.
