Wesgroup Properties has submitted its rezoning application to the City of Port Moody for its Coronation Park development.
The development will provide housing, office, retail, daycare and park space at Ioco Road and Barnet Highway.
“We are excited to submit this rezoning application,” says Dean Johnson, vice-president of development at Wesgroup. “It has been a collaborative effort with the city and community partners to deliver a ‘Made in Port Moody’ vision for a well-connected, accessible and carefully considered, transit-oriented community.”
Coronation Park will consist of:
- Total of 2,587 units (includes 2,486 market strata homes and 101 market rental homes)
- 29,752 square feet of office space
- 77,974 square feet of commercial/retail space
- 9,562 square feet daycare
- 2.55-acre park to be dedicated to the city
- 2,000 square feet civic amenity space
This rezoning application follows the Coronation Park OCP Amendment which was approved by Port Moody city council in April 2022. Wesgroup says a new Inclusionary Affordable Housing Policy was also applied to the Coronation Park project on April 19, despite affordable housing having been previously requested to be removed in favour of delivering lower density and community benefits like city park space, a pedestrian overpass and civic amenity space.
“We are committed to working with Council and with funding partners on the affordable housing component but would also like the city to acknowledge that there is flexibility within the new Inclusionary Affordable Housing policy for unique projects like Coronation Park that add significant public benefits,” adds Johnson.
Wesgroup says it will work with the city to undertake a new third-party analysis to review the project and the “potential financial hardship that would be incurred by adhering to this new policy.”
The developer hopes to bring the project back before city council before the end of the year.
