May 10, 2024 – EDGAR Development is starting construction on Phase 1 of its 23-acre, comprehensive community in Port Moody this week. This officially launches the first phase of the strata condo portion of the Portwood development called Umbra, which is now 70% sold.
Portwood is the first master plan to start construction in Port Moody in the past decade. Starting this month, there will be more than 500 homes under construction on site, with community amenities like childcare, retail and parks starting construction this fall.
“We are thrilled to start our first phase at Portwood,” said Matthew McClenaghan, President at EDGAR. “This is a great example of a well-thought out, amenity-rich, family-friendly neighborhood within a neighborhood, with a diverse range of housing. We believe our collaboration with our many partners can serve as a model for bringing together different housing options in one location while rejuvenating a neighborhood over time.”
“Port Moody City Council is pleased that construction is starting for this phase of the Portwood development as the overall project will bring a diverse mix of much-needed housing to the city,” said Mayor Meghan Lahti. “It will also bring green space and amenities that will benefit the neighbourhood and the community as a whole.”
Among the 219 strata homes now under construction, 70% are family units. Umbra will complete in early 2027, and the rental building and amenities, including a new 12,300 square foot childcare facility, grocery store, café, neighborhood park and 1.5 km multi-use nature trail, will complete around the same time.
Overall, the Portwood development will deliver over 2,200, including 328 affordable rentals and 138 much-needed market rentals, walking distance from an existing elementary school. The $1.1 billion development will span 20 buildings between six to 19 storeys in height, creating five new neighborhoods with a diverse range of housing.
The project has already started to transform the area and will eventually be home to some 4,000 residents and take more than a decade to complete. About 70% of the total development will be green space, including two parks, a 1.5-kilometre walking trail, bike paths and public art.
“The diverse array of product available at Portwood perfectly aligns with the community’s growth needs. Amidst minimal construction starts in the past decade, this project emerges as the long-awaited solution Port Moody has been looking for,” said Greg Zayadi, President, rennie.
Media contact:
Cori Howard Communications
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The Portwood Presentation Centre is open at 1190 Cecile Drive.
For more information: portwood.ca