Port Moody picks up four more properties for Kyle Park expansion

The park is getting bigger and so is the bill.

Port Moody paid $9.95 million for four houses on the 2500-block of St. George Street in a deal intended to expand Kyle Park by 0.75 acres.

The land should help shore up the parkland deficit in Moody Centre, particularly as demand increases while the neighbourhood grows, stated Mayor Meghan Lahti in a press release.

“Land is scarce in Port Moody, which means the city must act, whenever possible, when land becomes available,” Lahti stated. “This helps to ensure we don’t miss out on parkland, especially in areas where the need is greatest.”

Parks are essential to: “community well-being, biodiversity, and climate resilience,” Lahti added.

The city paid for the land with development cash earmarked for parks. The city collects development cost charges from major projects to pay for infrastructure, parks, and public art, among other things.

The city had also bought land at Kyle Street and two other properties on St. George for park space.

The previous property owners are slated to keep using the land in the short term through a lease agreement, according to info from the city.

Those short-term leases should allow the city generate some cash until concrete decisions are made, according to the city’s chief financial officer Paul Rockwood.

“Although longer-term lease options were offered, the tenants preferred a shorter-term arrangement to provide flexibility as they consider their future housing needs and next steps,” Rockwood explained.

Park plans are set to coincide with planning for the new Kyle Centre.

While the city doesn’t yet have a cost estimate, the current proposal is for a 39,000-square foot rec centre, likely resulting in higher operating costs and a property tax increase.

Built in 1977, the current Kyle Centre is 11,000 square feet.

The expanded centre would mean closing a portion of Kyle Street and turning the space into a pedestrian area.

Council previously endorsed a $515,000 capital project to fund the conceptual design of a 30,000-square-foot community centre.

Parkland ratios

Without future park expansions, the city’s parkland per capita ratio will fall by half by 2050, according to the city’s parkland strategy.

The Moody Centre, Glenayre and Coronation Park neighbourhoods are expected to experience the most growth over the next 25 years, and will need to be prioritized for new acquisitions, staff have said.