Inlet District

In December 2025, Wesgroup submitted a rezoning application seeking 375,467sf of additional density distributed across Phase C, Phase D, and a portion of Phase B at Inlet District. The additional density is being sought primarily to offset the significant increase in Metro Vancouver Development Cost Charges (DCCs) which added $30.3M of unanticipated costs to Inlet District. The increase in density is Wesgroup’s proposed solution to offset this unanticipated cost and ensure continued delivery of the in-kind community amenities committed to the City of Port Moody through the original rezoning.

In addition, a small portion of the proposed density increase reflects adjustments made in Phase A to support the conversion of Building 2 from a condominium tower to a purpose-built rental building. This change (approved in October 2025) converted condo homes in Building 2 to secured market rental, enabling the delivery of 342 Secured Market Rental homes, including an affordable component. These revisions were made in response to Council’s request at the Public Hearing that Wesgroup explore opportunities to add affordability at Inlet District, and were structured to qualify for the CMHC Apartment Construction Loan Program and comply with all program requirements. The original rezoning contemplated 110 Secured Market Rental homes; by converting Building 2 from condo to rental, the project is able to deliver 232 more rental homes than initially planned, including 86 homes meeting CMHC affordability criteria.

Wesgroup is committed to delivering the community amenities that were planned for and developed in consultation with the Port Moody Community.

Following three years of community planning and the Public Hearing for Inlet District (in October 2023), Metro Vancouver approved a record increase to its Development Cost Charges (DCC) bylaw, resulting in an unexpected $30.3 million increase to overall project costs.

Metro DCCs were previously $8,530 per housing unit. Following the approved increase, Metro DCCs are now $22,108 per unit, representing an approximate 160% increase per home.

The application proposes to increase density by 375,467 sq. ft., distributed across Buildings 5, 7, 8, and 9 primarily to offset the Metro Vancouver DCC increase which was not factored into the financial analysis completed and approved for the original rezoning.  In this application, the density is distributed primarily along Balmoral Drive, adjacent to the Coronation Heights redevelopment located along the Coquitlam border. Specifically, buildings 5 and 7 are proposed to increase from 31 to 35 storeys, building 8 from 31 to 36 storeys, and building 9 from 6 to 35 storeys.

Lastly, the application seeks to remove minimum parking requirements across the CD-89 zone, to remain consistent with the provinces new regulations.  Parking will be provided based on market.

While the height and density may be increased on four buildings, the original community vision for this future neighbourhood very much remains with a wide range of housing options, centered around a large public park, civic amenity, childcare, and neighbourhood serving retail, including a grocer in Phase A and a pedestrian crossing, located steps from transit. In keeping with Wesgroup’s commitment to Council and the community, the proposed amendment will ensure the continued delivery of the community amenities promised at the time of rezoning in July 2024.

As one of Western Canada’s most trusted developers, Wesgroup has built over 7,000 homes across more than 100 communities and manages over 3 million square feet of commercial space.  Following initial approval, and despite challenges with new Metro Vancouver DCCs, Wesgroup has worked diligently with the City to progress their first phase of development, including breaking ground on Inlet District’s first building, 1 Market Square, in December 2025.  Furthermore, great effort went into the analysis and conversion of building two from condominium to rental (with an affordable component) – a direct response to Council’s request at Public Hearing to explore additional affordability.

Wesgroup is committed to delivering a complete community at Inlet District, as designed with and by the community.  This was the impetus for the December 2025 rezoning which, should it be approved, will put the future community, including the full amenity delivery, back on track.

In July 2024, following a robust three-year public process, Inlet District received its final zoning enactment from the City of Port Moody for the original Area Development Plan. In December 2025, Wesgroup broke ground on Building One of Inlet District, 1 Market Square.

Subsequently, Wesgroup initiated a secondary rezoning application in December 2025 applying for additional density in Phases C and D, and a portion of Phase B to offset significant Metro Vancouver Development Cost increases approved in 2023 (after approval of the original masterplan and amenity package) adding $30.3M of unanticipated costs to the project. This rezoning application will follow the typical public process, and internal City review, including City Committees, public consultation, and eventually a Public Hearing and Council ratification of the updated bylaws.

Wesgroup remains committed to delivering the robust $30.8M amenity package as approved by Council in 2023, developed in consultation with the community, and agreed to by Wesgroup.

In addition to Municipal and Metro DCCs that the project will pay, the below is a list of community amenities being provided:

• $8M Community Amenity Contribution
• $6M overpass
• 2.5 acre park
• $4.8M in public art
• 2,002 sf civic facility
• 27,000sf Inlet District Resident Amenity
• 342 rental units with 25% affordable homes (per CMHC criteria)

The original vision and masterplan for Inlet District prioritized green open space, childcare, a civic centre, and a pedestrian overpass across Ioco Road, with less emphasis on affordable housing. At the Public Hearing, Council passed a motion clearly requesting that Wesgroup explore ways to incorporate affordable housing. In response, in August 2025, Wesgroup submitted a Zoning Text Amendment proposing to convert Building 2 (formerly condominium) and Building 2A (formerly office) to secured market rental housing, including 25% affordable units (per CMHC affordability criteria). As envisioned, Building 2A will still retain its approved retail and daycare uses, alongside the rental housing. This rezoning text amendment was approved in October 2025 and enables the delivery of 342 secured-market rental homes, including 86 below-market rental homes (per CMHC’s affordability criteria).

Currently, 1 Market Square is anticipated to be complete and occupied by mid-2029.

Construction of Phase A of Inlet District is underway, following issuance of the Development Permit and Building Permits in the fall of 2025. Phase A includes Building 1 (the condominium project known as 1 Market Square), Building 2, and Building 2A (the former office building), comprising the full Ioco Road frontage, including the retail and daycare space.

When complete, Phase A will deliver 641 homes, including 342 secured market rental homes (with 25% affordability), a 27,000 sq. ft. amenity space, approximately 10,000 sq. ft. of daycare, and over 94,000 sq. ft. of retail, including a large grocer, a drugstore, and smaller-scale commercial units.