Final rezoning enactment goes through for Wesgroup’s Inlet District development

VANCOUVER – Wesgroup recently announced it has received final zoning enactment from the City of Port Moody for its Inlet District development.

The 14-acre master-planned community in the area formerly known as Coronation Park will add more than 2,400 market condos and 101 Market rentals to Port Moody along with two day care centres, an office building, a supermarket, a drug store and other retail, a Wesgroup release said.

Approval for the rezoning enactment was received following a fourth reading on July 23.

“Wesgroup is grateful to achieve this milestone after tremendous effort and dedication over the past five years of work with the City of Port Moody. We look forward to bringing our vision to life and contributing to the growth and vibrancy of Port Moody,” Wesgroup senior vice-president of development Brad Jones said in a statement.

“Inlet District is an example of the time and effort required to bring transformative projects like this to fruition. We first started working on Inlet District in 2019 and now expect that it will take another five years until the first residents are able to move in.”

The development agreement between the City of Port Moody and Wesgroup includes $137 million in financial and in-kind contributions, the release said, including:

$8.05 million in community amenity contributions.
Construction of a market rental building with at least 10 per cent of units reserved for seniors.
$6 million for a new pedestrian overpass across Ioco Road.
A 2.63-acre park.
$4.8 million worth of public art.
A 186-square-metre civic facility for community use.
44 acres of private land for public access.
$44 million worth of infrastructure upgrades.
$33 million in municipal development cost charges.
$58 million in Metro Vancouver development cost charges.
Traffic demand management measures to promote alternative modes of transportation.