Malaspina Village set to get seven times bigger as affordable rental project moves forward

A major non-market rental project took a critical step forward following a recent Coquitlam council meeting.

Council signed off on a housing agreement bylaw with Metro Vancouver’s housing division, clearing the way for the development of five six-storey apartment buildings at 1144 Inlet Street.

The 4.4-acre Malaspina Village site is currently occupied by 67 non-market townhouses built in 1982. The new development, slated to begin construction early in 2026, consists of 473 affordable units intended for low- to moderate income families, seniors, and people with disabilities.

Coquitlam Mayor Richard Stewart previously noted the collaboration between the city and province as well as Metro Vancouver’s “historical contributions” to housing in the region.

“We support the creation of new housing and non-market housing partnerships in order to help ensure that our children and grandchildren have the opportunity to stay and build their futures in this community,” Stewart stated in 2024.

Breakdown

• 71 subsidized units for households with a “deep subsidy income limit”
• 72 rent-geared-to-income units
• 331 low-end markets units for “low and moderate income households.”

The units must remain non-market for 60 years or the life of the building, whichever comes second, according to a city staff report.

Set to be built in two phases, the units slated for demolition in Phase 1 are empty and the former tenants have either been relocated to other Metro Vancouver Housing sites or other accommodations, according to Metro Vancouver senior media relations strategist Jennifer Saltman.

“All tenants who were relocated have the right of first refusal on the new units,” Saltman explained in an email to the Dispatch.

Construction on Phase 2 is set to start once Phase 1 is complete.

“Residents in units that will be demolished for Phase 2 will remain in their homes until Metro Vancouver Housing is ready to begin work, and they will have the opportunity to be relocated to new units in Phase 1,” Saltman stated.

Coquitlam council previously approved a maximum capital contribution of $5.95 million toward the first phase of the project. Final approval is contingent on senior government funding.

Council approved the agreement without discussion July 7.