Vancouver-based real estate developer Wesgroup Properties released new details about the Inlet District master-planned community in Port Moody, announcing on Monday that they have submitted their development permit application for the first phase.
The master-planned community will be built across a 14.8-acre site between Barnet Highway and Guildford Way, along Ioco Road and steps away from the Millennium Line SkyTrain's Inlet Centre Station.
The site sits on the eastern border of Port Moody. Directly on the other side of the border, in Coquitlam, is a different master-planned community called Coronation Heights that's being undertaken by Polygon Homes. Wesgroup's project was originally named Coronation Park, but has since been renamed Inlet District, perhaps to avoid confusion with Polygon's project.
The Inlet District project will be unfolding across four phases, with the first phase to include two 26-storey towers — each atop a four-storey commercial podium — as well as a four-storey office building and daycare centre.
Phase One will sit along Ioco Road on the western edge of the Inlet District. The commercial buildings are expected to house a grocery store, pharmacy, and other retail shops.
An overview of the Inlet District master plan in Port Moody, formerly named Coronation Park.(Wesgroup Properties)
Both 26-storey towers are set to be market strata towers. At full build out, the Inlet District is expected to include six condo towers consisting of three 26-storey towers and three 31-storey towers. It will also include three six-storey buildings, a four-storey office building, and two daycare facilities with a total capacity for 194 children. All in all, Wesgroup says the project will deliver 2,486 condominiums and 101 market rental units.
Public amenities and benefits for the community include a 2.55-acre park, a pedestrian overpass connecting the site to Inlet Centre Station, a kids play area, sports court, public event space, pollinator meadow, and more. The project will also bring $44M in infrastructure upgrades and $4.8M in public art, Wesgroup says.
The daycare facility (left) and three buildings (right) of Inlet District's first phase.(Wesgroup Properties)
Wesgroup also notes that the Inlet District master plan is being designed as a fully-accessible community thanks to its collaboration with Marco Pasqua at Meaningful Access Consulting, a universal design and accessibility firm based in Surrey. Approximately 10% of of the rental housing planned for the Inlet District has also been earmarked for seniors.
As previously announced, future tenants of the Inlet District will be eligible for Wesgroup's Beyond Rent program, Wesgroup's rent-to-own program, which gives renters looking to purchase a Wesgroup home a discount of between 2% and 5% based on their tenancy history with Wesgroup.
"Inlet District has been designed as a complete community where residents' daily needs, such as childcare, shopping, and recreation will be right at their doorsteps," said Wesgroup Vice President of Development Dean Johnson. "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."
A rendering of the Inlet District master plan.(Wesgroup Properties)
Editor's Note: This article has been updated due to an error in Wesgroup's press release. Inlet District is unfolding in four phases, not three.