Wesgroup Properties is getting closer to building the first phase of Inlet District, a master-planned community in Port Moody, B.C.. The 14.8-acre site is located in the area formerly known as Coronation Park.
A newly submitted development permit will make way for six condo towers and three low-rise buildings that will add 2,486 market condos and 101 market rentals to the community. Two daycare centres for 194 children, a four-storey office building, a supermarket, a drug store and other retail are also in the works.
Developed in consultation with Port Moody residents and city officials, the plan entails a 2.55-acre park, a pedestrian overpass to Inlet Centre SkyTrain station, $44 million in infrastructure upgrades and $4.8 million in public art. The park will feature a kids play area, sports court, stage, pollinator meadow, and seating for families and groups.
Dedicated housing for seniors will include ten per cent of the rental housing being earmarked for persons aged 65 and over. Inlet District is also being designed as a fully accessible community thanks alongside Marco Pasqua at Meaningful Access Consulting, a universal design and accessibility firm.
Tenants will be eligible to participate in Wesgroup’s Beyond Rent program, which allows renters at Wesgroup-owned buildings to qualify for large discounts on the purchase of a new home based on how many years they have rented from the development firm. The discount varies from two to five per cent depending on the length of tenancy.
Inlet District will be built over four phases. The first phase will include two 26-storey towers built atop a four-storey podium, which will provide new retail space along Ioco Road for a grocery store, pharmacy and other shops. The office building and a daycare will also be built as part of this phase.
“We are excited to be one step closer to making Inlet District a reality and bringing more than 2,500 new transit-oriented homes to Port Moody,” said Dean Johnson, vice president of development at Wesgroup Properties.