Port Moody is on pace to achieve the first-year housing targets set in a five-year plan imposed by the provincial government to boost the supply of homes in the city.
But after that, the outlook gets a little fuzzy.
In a report to be presented to council on Tuesday, May 14, social planner Liam McLellan said since Port Moody’s housing targets were established by the province’s Housing Supply Act in September 2023, to March 2024, 255 new homes in the city have received occupancy.
And while 47 homes were vacated as part of the massive redevelopment of the old Coronation Park neighbourhood, the net total of 208 puts Port Moody in a good position to reach the minimum target of 231 new homes by October 2024 once the first phase of a project by Bold Properties at 2002 St. George St. is completed sometime this summer.
