The public hearing for Coronation Park has been postponed from its original date due to an error in the City of Port Moody’s required notification procedures.
We are excited to hear from the community in an open forum and move this process forward.
After two years of process, seven appearances at city council, five proposals responding to council feedback and engaging with hundreds of residents, the OCP amendment for Coronation Park is finally going to public hearing on Tuesday, April 26.
There have been many conversations taking place in the community and we felt it was important to speak about the project, here, as we have in front of council many times.
Here are the facts about the re-imagined Coronation Park:
- 2.5 acres of new public parks and an additional 1.5 acres public open space
- new housing including rental, a rent-to-own program and 10 per cent dedicated for seniors within a five-minute walk to SkyTrain
- 115,500 sq ft commercial space creating 1,160 long-term and 4,000 short-term jobs
Our region needs more housing and it’s critical that new housing has access to public transit.
No master plan can achieve every need, but we believe this proposal meets the needs of many and will create a community Port Moody can be proud of.
It includes $30 million in infrastructure upgrades, parks, an overpass connection to SkyTrain, job spaces, childcare and community space.
It will generate $25 million in development cost charges, $12 million in amenity contributions and approximately $6.5 million in annual property taxes.
We acknowledge the desire for affordable housing and are committed to continuing to work on it.
BC Housing and CHMC need the same clarity that we do, at the rezoning stage, before committing funds.
We are at the table, but the project needs to advance for them to get on board.
In 2021, the city and Wesgroup hired a third party to review the viability of affordable housing. Their independent study found that with council’s requests beyond the OCP, provisions for affordable housing required additional density. Following that, council voted to remove affordable housing to reduce height and density.
The future of Coronation Park has been uncertain since 2013 and can only move forward with clarity from council so that Wesgroup can purchase the lands.
If this project is turned down, there will be missed opportunity for needed transit-oriented housing and all the amenities that come with a master planned community.
We are excited about the positive impact this proposal will have on the community.
We’ve worked hard to put forward the best vision possible and are committed to working with the city and community to ensure a vibrant and resilient neighbourhood that is truly “Made in Port Moody."
- Brad Jones, Wesgroup Properties