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Port Moody Twin MF Towers Gain Approval
Port Moody, B.C.’s city council has approved a twin 39-storey multi-family rental development project, The TriCity News reported.
Local developer PCI is developing the project next to the Moody Centre SkyTrain station in the Vancouver suburb.
The project, which required amendments to the city’s zoning and official community plan bylaws, includes exceptions to existing regulations such as a height limit of 26 storeys and a required 60-metre separation between towers—now reduced to 28 metres, the News reported.
Council’s decision followed a nearly three-hour public hearing, where speakers in support of the project significantly outnumbered those opposed, according to the News.
The twin towers will deliver 865 rental units, including 613 studio and one-bedroom suites, 179 two-bedroom units, and 54 apartments with three or more bedrooms. Unit sizes will range from an average of 382 square feet for studios to 958 sf for the largest suites. Forty-four of the homes—about 5%—will be offered at below-market rates. Council called for continued collaboration between the city and developer to potentially increase that number, the News reported.
City councillors expressed strong support for the project, citing the benefits of replacing underused land near transit with new housing, community amenities, and retail options. They said the towers would help anchor a more vibrant downtown core, according to the News.
Among the highlights of the development are a 26,000-sf community plaza, a pedestrian bridge connecting to Murray Street and Rocky Point Park, and 55,000 sf of commercial space that includes a planned 40,000-sf grocery store and 15,000 sf of additional retail.
According to city planning staff, the project will generate approximately $25 million in amenity contributions, with more than half allocated to the design and construction of the plaza and pedestrian overpass, the news reported. Completion is expected to coincide with the occupancy of the first tower.
- ◦Lease
- ◦Development
- ◦Policy/Gov't