Wesgroup Properties is preparing plans to redevelop the Coronation Park neighbourhood in Port Moody, where it has assembled over 50 single-family homes.
The developer has submitted a pre-application inquiry with the city for its land assembly at Barnet Highway and Ioco Road.
The site is located within cross proximity to the Inlet Centre Evergreen Line SkyTrain station, and Wesgroup envisions a high-density, transit-oriented community with approximately 2,800 units, consisting of:
- six high-rise towers of approximately 32 storeys with six-storey podiums
- five low-rise buildings of six storeys
- possible neighbourhood serving retail space
- one acre public park
- daycare facility
- new road network
Up to 500, or 18 per cent of all units could be designated as rentals, with 50 of those possibly as affordable rentals, depending on negotiations with the city.
New renderings: Coronation Park redevelopment
Renderings: Coronation Park redevelopment
However, Wesgroup has not been able to come to an agreement with three single-family homeowners, as illustrated in the map below.
The pre-application inquiry outlines challenges with these properties.
“It is Wesgroup’s intention to assemble all 59 homes to allow for flexibility in design, phasing and construction. However, based on ongoing discussions, there are a few properties which we believe are high risk of not reaching terms with Wesgroup.
Wesgroup has provided a feasible alternative plan which, if required to pursue will require the City to work with Wesgroup to find a solution on how to proceed in this unique circumstance.”
Wesgroup hopes achieve rezoning of the assembly by June 2022. The architects are Ciccozzi Architecture Inc.