Coquitlam City Centre State of the Market 2018
What is happening in Coquitlam City Centre & why it matters.
With the arrival of the Evergreen SkyTrain line, The City of Coquitlam has initiated the process of updating the existing City Centre Area Plan (CCAP) in order to guide development in “Coquitlam’s downtown” over the next several decades. The CCAP update will build upon past land use decisions to create new higher density areas, more mixed use spaces and pedestrian friendly developments along the corridor surrounding the Evergreen SkyTrain line. These changes in land use designation have the potential to greatly impact the value of area properties. A map indicating the geographic focus of the CCAP and how the updated plan will guide development in the areas surrounding City Centre’s three new SkyTrain stations can be found below.
The CCAP update is being undertaken in two phases with a targeted completion date of mid 2019.
Phase 1 – In Progress
Phase 1 of the update started in December 2017 and is still underway. This phase investigates the existing context of the plan area in order to inform discussions on the area’s identity and character. This phase will inform early policy directions for the plan.
Phase 2 – Next Step
In phase 2 of the update, the findings from Phase 1 will be synthesized into a draft plan. This draft plan will contain a land use concept with guiding polices and an implementation strategy.
MAJOR UPCOMING PROJECTS
Below, you will find a summary of residential projects that are currently under construction or in the rezoning process with the City of Coquitlam. These projects highlight the type of development that will soon be typical of the area.
WHY IT MATTERS
2018 and 2019 promise to be years of change in the City Centre neighbourhood, as the CCAP takes shape and provides guidance for development in the area. The plan has the potential to greatly impact property values as it will provide clarity and certainty regarding the timeline to development and the development potential of each individual property.
If you would like any further information on the current market or recent development activity, please give us a call.
In creating this report, we consult City of Coquitlam planning and engineering staff, analyze municipal development data and seek the insight of many of our developer clients to bring you the most relevant information.