Port Moody, one of Metro Vancouver’s most storied and vibrant communities, is experiencing significant transformation. As the city works to meet ambitious housing targets and update its Official Community Plan, recent rezoning initiatives and new development projects are reshaping the market. From high‐rise condo towers near transit to affordable rental initiatives, here’s an overview of what’s happening in Port Moody’s real estate scene.
Rezoning and Housing Supply Targets
To meet the city’s housing targets, Port Moody is under new provincial mandates. According to the City’s Development Growth Projections, Ministerial Order 283/2023 requires the completion of at least 1,694 new housing units between October 2023 and October 2028. The provincial Housing Supply Act Order and recent amendments to the zoning bylaws are set to enable increased density—especially around transit hubs like Moody Centre Station—while streamlining the development application process. With a new draft of the Official Community Plan already in the works (as reported by local news sources), the city aims to balance growth with community character.
New Developments and Presale Opportunities
Port Moody is at the forefront of several high-profile new developments:
1 Market Square at Inlet District
Vancouver-based Wesgroup Properties recently launched marketing for 1 Market Square, a 27-storey tower offering 299 condominiums along with integrated amenities such as a grocery store, daycare, and extensive common spaces like rooftop lounges and indoor recreational facilities. The project is part of a larger master-planned Inlet District that will eventually deliver over 2,500 homes, radically transforming the old Coronation Park area.Affordable Rental Homes Initiative
In May 2024, BC Housing announced that more than 325 new below-market rental homes are underway in a project called The Creek at 296 Angela Drive. This development targets families, seniors, and Indigenous peoples by offering secured rental units at below-market rates—an essential measure to improve housing affordability in the region.Presale and New Construction Listings
Platforms such as Houseful, REW, and PresalesBC show a diverse mix of new construction opportunities—from presale condos and townhomes to mixed-use developments. With developments spanning neighborhoods like College Park, Inlet Centre, and Moody Centre, buyers can find options that meet a range of budgets and lifestyles.
Market Trends and Community Insights
Local market reports indicate that while inventory in Port Moody has been on the rise, overall home prices remain competitive compared to larger Metro Vancouver markets. Recent data suggests the median list price hovers around the $1‑million mark for various property types—with new listings appearing regularly and average days on market fluctuating based on property type and location.
Community factors also play a vital role. Port Moody’s waterfront views, access to parks like Rocky Point, and proximity to transit (including the SkyTrain and West Coast Express) continue to attract homebuyers looking for a lifestyle that blends urban convenience with natural beauty. Moreover, ongoing improvements to public amenities and the city’s strong emphasis on heritage and environmental sustainability are further bolstering the local market.
Looking Ahead
With continued rezoning efforts, proactive housing policies, and a host of transformative developments underway, Port Moody is poised for substantial growth over the next few years. As the city works to update its community plan and meet provincial housing targets, residents and investors can expect an evolving real estate landscape that reflects both community values and modern urban needs.
Whether you’re a first-time homebuyer, a seasoned investor, or a longtime resident curious about market trends, Port Moody offers dynamic opportunities—balanced by a commitment to sustainable, community-driven growth.