Coronation Park in Port Moody
Coronation Park is a development proposal by Wesgroup Properties to transform 59 single-family homes into a well-connected, accessible, transit-oriented and “Made-in-Port-Moody” master-planned community.
In April 2022 staff, the public and Council developers sought consultation, and feedback regarding the Official Community Plan amendment for additional uses.
Coronation Park will add 2,587 new homes to Port Moody. This will included 101 rental homes, dedicated rental housing for seniors, a rent-to-own program and 47% family oriented housing.
Coronation Park will be for everyone
Programming for various age groups will include daycares, homes for people in all stages of life and amenities for everyone.
Port Moody’s strengths celebrated through the proposed design. From the inclusion of public art on-site, the presence of parks and open space, connection to SkyTrain, mix of uses, and a human-scale streetscape.
Located a 5-minute walk from Inlet Centre SkyTrain Station, and ensuring residents will be able to meet their daily needs within a short walk from home, will contribute to a more sustainable and resilient community, and future for Port Moody.
The creation of office space, daycare and new retail options contribute an estimated 1,114 new long-term jobs. Residents of Coronation Park will also help to support local businesses in the Tri-Cities.
Port Moody Real Estate
Port Moody prices have risen and dropped to levels we saw at the end of 2021. With increase in interest rates, taking a wait and see approach. Higher rates mean that borrowing money is more expensive, whether you’re borrowing for car payments, student loans, or a mortgage
Port Moody Detached Homes saw a slight increase in 2022 and fell slightly above 2021 prices. The benchmark price of a home at the end of 2021 was $1,888,000 and is now $2,029,000.00
Port Moody condo inventory struggled at the end of 2021. As interest rate changes started to creep up, buyers took advantage of market conditions to unload and/or move up. Benchmark prices started at $689,000 and are currently $699,000.00.
The Port Moody townhome market has stayed fairly resilient. Benchmark prices are just above $1,000,000 and inventory continues to decrease, causing buyer demand.