Port Moody Accelerates Affordable Housing Project at Coronation Park

The city of Port Moody has taken a significant step towards addressing its affordable housing crisis by fast-tracking an amendment to the Coronation Park development project. The amendment, which was approved by the city council, will allow for the construction of affordable housing units to begin earlier than initially planned. This move is expected to provide much-needed relief to the city’s low- and moderate-income residents who are struggling to find affordable housing. The Coronation Park project, which is a major redevelopment initiative, aims to transform the area into a vibrant and inclusive community. The project includes the construction of a mix of market and non-market housing units, as well as community facilities and public spaces. By fast-tracking the amendment, the city council has demonstrated its commitment to addressing the affordable housing crisis in a timely and effective manner. The decision is also expected to have a positive impact on the local economy, as it will create new jobs and stimulate economic growth. The Coronation Park project has been in the works for several years, and the city council has been working closely with developers, community groups, and other stakeholders to ensure that the project meets the needs of the community. The project has undergone several revisions and updates, and the latest amendment is expected to be the final piece of the puzzle. The city council’s decision to fast-track the amendment has been welcomed by community groups and residents, who have been advocating for more affordable housing options in the area. The Coronation Park project is just one of several initiatives that the city of Port Moody is undertaking to address the affordable housing crisis. The city has also implemented a range of other measures, including rent control, inclusionary zoning, and community land trusts. These initiatives are designed to provide a range of affordable housing options, from rental units to ownership opportunities, and to ensure that the city’s housing market is accessible to all members of the community. The city’s efforts to address the affordable housing crisis have been recognized at the provincial and national levels, and Port Moody is seen as a model for other cities to follow. Overall, the fast-tracking of the Coronation Park amendment is a significant step forward for the city of Port Moody, and it demonstrates the city council’s commitment to addressing the affordable housing crisis in a timely and effective manner. The project is expected to have a positive impact on the community, and it will provide much-needed affordable housing options for low- and moderate-income residents. The city council’s decision is also expected to have a positive impact on the local economy, and it will help to stimulate economic growth and create new jobs. In addition to the Coronation Park project, the city of Port Moody is also exploring other innovative solutions to address the affordable housing crisis, including the use of modular construction and community land trusts. These initiatives are designed to provide a range of affordable housing options, and to ensure that the city’s housing market is accessible to all members of the community.

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