Port Moody is considering creating rental zones in the city to take advantage of new provincial legislation giving municipalities the power to do so.
Last Tuesday, council directed city staff to gather information on how to implement the zones and propose locations that would be appropriate.
Mayor Mike Clay suggested properties such as Metro Vancouver’s Moray Place housing, a nearby rental project by Woodbridge Properties on St. Johns Street and Woodland Park townhomes in the Seaview neighbourhood as examples of places that could be zoned for rentals only.
“It’s a first step but it’s incumbent on us to look for new properties where rental is not currently planned,” said Coun. Hunter Madsen.
“I don’t think this is going to be a quick fix,” said Coun. Diana Dilworth. “This sends a very clear message to our residents and to the development community what we to expect to be built on these properties. Our primary designation on these lands is we want to keep affordable rental on these properties.”
The move came about during discussion of city council approving a housing agreement for a complex being built at 3370 Dewdney Trunk Rd., where a mobile home park was located. The agreement guarantees the 229-unit development will remain rental in perpetuity and prohibits the developer from making an application to stratify it. It will have five units of below-market rental housing, with the agreement detailing maximum income levels for the tenants. If the development is demolished, the five affordable units must be replaced.