Port Moody is a little late to the table on planning for transit-oriented development in Moody Centre.
Coquitlam is well on its way to maximizing development to support the rapid transit investment while PoMo has lagged in this area.
Nevertheless, PoMo is ripe for development but appears to be recognizing that not everyone wants to live in 40-storey towers.
The plan for Moody Centre that seems to be taking shape would see about 3,000 more people in the city, roughly a 10% increase, in new developments that would be no higher than 20 storeys. Compare that to plans for a 49-storey building in Coquitlam and you can see PoMo is taking a very different approach.
It remains to be seen, however, with the cost of land being what it is, whether 20 storeys is viable for developers to begin laying foundations and whether the units will be within the price range of average Lower Mainland residents.
