Port Moody Council fast-tracks amendment to deliver affordable housing at Coronation Park earlier than expected

Wesgroup Properties’ multi-tower Coronation Park project in Port Moody may build affordable and rental housing quicker than previously expected.

Port Moody council unanimously approved a motion on Tuesday expediting a zoning amendment that would allow the developer to substitute a planned office building with a purpose-built rental tower in the first phase of development.

Wesgroup’s director of development, Kaylen Blomkamp, wrote a letter to council on July 7, stating the amendment would clear the path to critical construction financing from the Canada Mortgage and Housing Corporation (CMHC) ahead of a looming fall deadline.

“There’s no guarantee (this program) will remain available in the future,” she said. “It is one of the most impactful housing initiatives in Canada and, in today’s market, is the primary reason that rental and affordable housing projects are moving forward at all.”

The 2,587-unit Coronation Park project, which was approved in 2023, has frequently been criticized by some in the community for a lack of affordable housing, despite a letter of intent promising to explore affordable housing options in exchange for increased density at a later development phase.

In May 2025, Wesgroup approached council with a proposal to convert one 26-storey tower to market and below-market rentals, if a 35-storey tower and 13 additional storeys on existing towers were added. The plan included financing tools like CMHC low-rate loans, and surety bonds instead of bank-issued letters of credit.

The company said the significant increase to density was needed to offset Metro Vancouver’s steep developer fees.

Mayor Meghan Lahti emphasized that Wesgroup’s most recent amendment request was only needed to meet funding deadlines for the CMHC program, and in no way obligated council to approve the additional density proposed in May.

“I’m OK with doing that if the end result is affordable housing,” Lahti said. “I know that Wesgroup came and talked about additional density, but they also talked about some other things that I’m not sure that this council would support.”

Blomkamp said their initial application to CMHC was disqualified, as the inclusion of a commercial office building pushed the per-unit cost above allowable thresholds.

She warned that failure to act immediately would delay construction of the rental building, as well as amenities like childcare spaces, by at least four years.

“That opportunity is now here, and this will be council’s last opportunity within their term to make this a reality,” Blomkamp said. “To secure this allocation, we need to provide clear direction on a path forward today.”

According to the proposal, replacing the office building would also allow for the construction of 342 purpose-built rentals in the first development phase (54 more than previously proposed), 85 of which would be designated as affordable under CMHC criteria.

That represents more than triple the number of rentals currently required by zoning, according to Wesgroup. In total, the first phase would deliver 641 homes by 2029, meeting 38 percent of the city’s 2025–2030 provincial housing target.

Wesgroup warned that failing to act would force a reversion to market condos and a delayed presale program, which Blomkamp described as having “no viable market or sign of recovery.”

City staff acknowledged the urgency but also emphasized the proposed changes represent a significant departure from the previously approved plan and would normally require both an official community plan amendment and a rezoning process.

Acting city manager Jeff Moi wrote in a July 11 memo to council that staff agreed that the standard process would not be able to meet the CHMC deadline.

Coun. Haven Lurbiecki, while ultimately supportive, warned of the long-term consequences of deferring the promised office space.

She said bringing in more residents without workspaces would result in more vehicle use in the transit oriented development.

“This is for a net benefit, for sure,” said Lurbiecki. “But there’s a cost and a risk, which is to delay another needed amenity.”

Coun. Kyla Knowles said she wasn’t concerned about the delay in office construction, noting that the office tower built in Suter Brook Village “sat empty for years.”

“I believe at this time it is currently still half empty. So I’m very glad that that is the trade-off we’re making here,” she said.

City staff confirmed the development permit for the first phase of development is expected in the coming weeks. 

Staff also confirmed the approval does not affect any future rezoning applications – such as Wesgroup’s previous request for increased density, which would still need to follow the full public process.

“That’ll have to go through a process. If it doesn’t happen, then it doesn’t happen,” Lahti said. “But at least we can’t be seen to be sort of holding up a process that we’ve asked them to come back with.”

Coun. Diana Dilworth said she remained confident the overall project would still deliver on its long-term commitments.

“Having the experience of having gone through decades of build outs of our bigger developments . . . there’s always going to be changes and hiccups and things that go on,” she said. “I have always been confident that we were going to get affordable housing and more rental on that property.”

With council’s direction now in place, Wesgroup must secure final approval for the text amendment by October 31 to remain eligible for CMHC’s 2025 funding allocation.