Developer Beedie Living Proposes Further Expansion in Port Moody's Downtown Area

Port Moody is already bustling with development, but might see a significant expansion with the proposal of three new condo towers by Beedie Living. 

The Vancouver-based developer has submitted an application for zoning and official community plan amendments, outlining plans not only for the condo towers at 3060-3092 Spring St., just east of the Moody Centre SkyTrain station but also for a six-storey building featuring 40 below-market rental apartments at 2806 Spring St.

These towers are slated to reach impressive heights of 32, 34, and 38 storeys, collectively housing 972 residential units, and are designed with one-storey commercial podiums at their base.  These podiums are set to be multifunctional, providing spaces for retail, office, work-from-home, and co-working spaces that could generate up to 600 jobs.  Beedie Living has expressed its intent to collaborate with BC Housing, possibly designating the below-market rental apartments for women's transition housing.

According to Beedie's application, Spring Street is envisioned to be the project's "living room" space, and will be transformed into a pedestrian-oriented space featuring public art, play areas, flexible-use spaces, and structures for weather protection, fostering social interactions, artistic expression, and community gatherings.  Beedie emphasizes a vibrant, pedestrian-focused Spring Street that encourages active transportation, with plans to include provisions for food trucks and street vendors.

As part of its commitment to the community, Beedie Living has projected in-kind amenity contributions exceeding $23 million, with an additional more than $3.6 million in cash contributions to city funds.  The ongoing property taxes are estimated to generate $2.1 million annually.

This proposed development coincides with a similar initiative by PCI Developments, seeking early feedback for two 39-storey rental towers on Spring Street, adjacent to the Moody Centre SkyTrain station. 

Both Beedie Living and PCI Developments are both collaborating with the city to reshape Port Moody's downtown into a vibrant, transit-oriented mixed-use community with thousands of new homes and various commercial and artistic spaces.  The competition for these ambitious development projects is indicative of the city's commitment to growth and urban transformation.

Read the full article from Mario Bartel here: https://www.tricitynews.com/local-news/more-towers-being-proposed-for-port-moodys-downtown-7862620