Port Moody buys two properties next to Kyle Park for future park expansion

Port Moody has purchased two old residential properties across the street from Kyle Park for a future park expansion.

The city announced their acquisition of the properties at 2506 and 2510 St. George Street through a news release Wednesday, disclosing the $5.9 million price tag.

Mayor Meghan Lahti said the purchase was a strategic decision made to help protect green space and future public use, in order to address a looming parkland deficit in the Moody Centre neighbourhood as it grows.

“Given the scarcity of available land suitable for park space, the city needs to monitor the market carefully and strive when possible to purchase lands as they become available,” Lahti said. 

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

For instance, Moody Centre’s current per capita ratio of 3.9 hectares of parkland per thousand people will drop by 80 percent if no action is taken.

The combined 17,405 sqare feet (0.4 acres) of land was purchased with developer cost charges, which are collected specifically for growth-related infrastructure and improvements.

No timeline exists for zoning changes needed to transition the two properties from residential to park space, according to the release, though the municipality will officially take possession of the properties on Dec. 7 and Jan. 15.

It further states the city needs to continue to gather input and engage the community on park space before any decisions are made.

A town hall event specifically relating to parkland expansion in the Moody Centre neighbourhood is currently being organized by city staff at the request of the mayor. It will taken place in sometime in 2025

Tenants currently living in the properties hold active leases, and the city intends to contract a property management firm to oversee the residents.