This story has been amended to clarify Coun. Amy Lubik’s vote during the April meeting.
It’s been described as necessary housing for a new generation of Port Moody residents and it’s been called the most unfortunate urban planning mistake in the history of the city – and now it’s back.
Nearly three months after a particularly contentious and exhaustive Port Moody council meeting, Wesgroup development company has formally submitted a rezoning application to build 2,587 homes, according to a release from the company.
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Located east of Ioco Road, west of Balmoral Drive, and north of Barnet Highway, the project is set to include six towers ranging from 26 to 31 storeys.
- Market strata homes: 2,486
- Market rental homes: 101
- Office space: 29,752 square feet
- Commercial space: 77,974 square feet
The project also includes a daycare, a 2.55 acre park and an as-yet undetermined 2,000 square foot civic amenity space.
Affordability vs. flexibility
In a bid to reduce the project’s overall density, council previously voted to remove the project’s affordable housing component. While she ultimately supported amending the official community plan, Coun. Amy Lubik said removing the affordable housing was a mistake.
“Where this falls down for me is the lack of affordable housing,” Lubik said during the April meeting.
One week before council voted to amend the city’s official community plan and essentially clear the runway for the Coronation Park application, council endorsed a new policy around affordable rental units. Essentially, the policy states that any time a developer asks for more density, they must offer affordable housing in return.
Strict adherence to that policy could mean “potential financial hardship” for Wesgroup, according to the company’s vice-president of development Dean Johnson.
Johnson asked city council to offer the development company some leeway.
If the policy impacts the viability of the development and jeopardizes a community included with that development, “the city can show flexibility,” Johnson stated.
If all goes according to plan, the development will be back in council chambers before the end of 2022, according to Johnson.