April 3, 2023 – EDGAR Development is unveiling the official master plan vision for its transformative Port Moody community, Portwood, this week, with sales for the first phase of market residential set to begin this week and construction for the affordable housing component anticipated to start this summer. The development is the first master planned community in Port Moody to be approved and moving forward since 2004.

Overall, Portwood will span 20 buildings, with most at six storeys, set across five new neighborhoods with a diverse range of housing, including 138 new market rentals, 328 below-market rentals for BC Housing, approximately 2,000 new market strata, grocery, retail and a new 12,300 square foot childcare facility. About 70 percent of the total development will be green space, including two parks, a 1.5-kilometre walking trail, bike paths and public art.

The $1.1 billion project will revitalize the Woodland Park area of Port Moody and bring more than 2,000 new homes, including strata, market rental and affordable rental to the area. The 23.7-acre site at 1142 Cecile Drive and 300 Angela Drive will eventually become home to some 4,000 residents and take more than a decade to complete. Unlike most other master planned communities, it will include a rare provision of amenities in the first phase, including the new childcare facility, grocery store, café and 1.5 km multi-use nature trail.

“We’re extremely excited about the plans for this site because people want to live in well-designed, thoughtful communities with access to parks, public art, retail, amenities and recreational facilities and that’s what we are building here,” said Peter Edgar, President of EDGAR. “This is a truly complete community with a diverse range of housing, and 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.” 

“A genuine diversity of housing”

Greg Zayadi, President of Rennie

“It’s nice to see a real community being built out with a genuine diversity of housing,” says Greg Zayadi, President of Rennie. “This will be a ground-oriented neighborhood that will be extremely livable, with many homes catering to an under-supplied segment of the market at prices under $1.5 million. Compared to other master-planned communities in other regions, there’s been nothing quite like this developed in over a decade.”

“What is astonishing about this development is the amount of land – almost 50% – that is being gifted to the City to protect the urban forest and creeks and to make way for new parks and trails. Not many developers would do that, but it’s an integral part of EDGAR’s vision to create a complex, rich and sustainable community,” says Mark Ostry, principalat Acton Ostry Architects. “We have worked hard to make this a walkable community where pedestrians and green space are prioritized. In a typical development, homes would be fronted by streets and sidewalks. Here instead there will be green space between the buildings, providing common, open areas that will feel like you are living in a park.” 

Said Derek Lee, Partner with PWL Partnership: “With the abundance of green space, this new development will feel like an arboretum with mature fir and cedar trees, creeks and trails connecting the neighborhood with the surrounding community. This will be a five-minute neighborhood where residents can walk to childcare, groceries, schools and parks. This concept aligns with emerging planning models that encourage pedestrian-oriented communities for all ages.”

In addition to the eventual increase in market rental, the Portwood development represents one of the biggest investments the provincial government has ever made into affordable housing outside of Vancouver and is one of the largest affordable housing contributions in Port Moody’s history. Together, the first two rental phases at Portwood will increase Port Moody’s rental housing supply by more than 50 percent.

“At Portwood, we have made the bold move to deliver amenities such as parks, trails, retail and childcare in the early phases so the community can take advantage of them right away. Community is important to us, and we understand the benefits of having the community grow around those amenities from day one,” Matthew McClenaghan, Senior Vice President, Development at EDGAR. “This will not be a monolithic collection of towers, but a truly livable, walkable, community.”

Key features of Portwood include:

• Two new neighbourhood parks and a 1.5 km public multi-use trail (approximately 3 acres total) 
• $21 million, 5.1 acre land gift to BC Housing to accommodate 325 non-market homes 
• Protection and enhancement of environmentally sensitive areas (5.2 acres) 
• Approximately 120+ spaces for childcare (12,300 SF)
• Grocery store and other commercial retail (19,000 SF) 
• Public art worth $2.85 million  
• Approximately $30 million contribution to fund a new road, with excess land being provided to the City for its priorities 

Media contact:
Cori Howard Communications
cori@corihowardcommunications
778-987-1345

About EDGAR

EDGAR Development is a next generation master plan developer in the Lower Mainland, building complete communities with a diverse range of housing. Established in 2009, the company has been creating meaningful spaces through an expansive portfolio of real estate offerings for over a decade. Currently, EDGAR is completing more than 5,000 homes across two communities in Port Moody and New Westminster, with a vision to building a more sustainable and supportive future for all. The company’s commitment to thoughtful placemaking allows for the delivery of innovative environments that inspire a diverse and growing community of homeowners. For more info: