The decision of when to submit a rezoning application requires economic and political certainty. Since the Oceanfront District Master Plan was passed 2018, there has not been a sustained period of certainty in Port Moody that would allow us to put forward an application in good faith. The municipal election in 2018, rising property taxes due to the Highest and Best Use rule, uncertainty around the Mayor’s office in 2019-2020, and the COVID-19 pandemic have all contributed to a delay in our decision to move forward. In the meantime, we have developed partnerships in the film and entertainment sector that have ensured that the Oceanfront District remains a productive part of Port Moody’s business sector following the closure of the Flavelle SawMill in October, 2020.
Moving forward, we are excited to re-engage with the community of Port Moody as this will assist us in determining our next steps and timing.