Focus on community, not housing units, planner says
The PoCo Place project in Port Coquitlam, B.C., has been halted by developer Wesbild Holdings Ltd. due to a drop in rental prices, making the project financially unfeasible. The project was set to include 2,000 homes and significant retail space, marking a major development for the area. City officials see this pause as an opportunity to refocus on community building and the importance of amenities rather than solely on housing units.
- ▪Wesbild Holdings Ltd. announced the mothballing of the PoCo Place project, which was to include 2,000 homes.
- ▪The decision was influenced by a drop in rental prices, making the project financially impossible to continue.
- ▪City officials emphasize the need to focus on community amenities and resilient city building rather than just increasing housing units.
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Open this photo in gallery:Renderings of the mothballed PoCo Place project in Port Coquitlam, B.C. Developer Wesbild was to have built 2,000 homes and significant retail space and amenities.WesbuildShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountA major master-planned community project in Port Coquitlam, B.C., has been mothballed, developer Wesbild Holdings Ltd. announced last week.With 2,000 homes and significant retail space and amenities, the scale of the project would have been unprecedented for Port Coquitlam, one of Metro Vancouver’s smaller suburban municipalities. Wesbild had announced plans for a six-tower community where a shopping mall currently exists at the corner of Lougheed Highway and Westwood Street, called PoCo Place.
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