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Don’t ‘gentrify’ old Port Moody
One possible consequence of new development and population growth is gentrification.
If Port Moody council approves the proposed OCP, there could be a dramatic decline in affordable housing, massive demand on public infrastructure and increased taxation. Many low-income residents and pensioners will likely be priced out of the city. Crime rates could also rise, along with a host of other social problems such as homelessness.
The myth that small businesses will have a larger client base is unfounded. In fact, new development can bring more competition and higher lease rates.
It appears council may want to convert Kyle Centre and the adjacent green space into subsidized housing to help combat gentrification should it give the OCP the green light. This sounds noble but who will pay for this — financially and socially? Inclusionary zoning and rent control regulation places more responsibility on the developer and is a safer bet to limit the effects of gentrification and help keep taxes under control. It is imperative we preserve Kyle Centre in the OCP for everyone to enjoy.
With tax increases already some of the highest in the Lower Mainland, one really has to wonder what in the world Port Moody councillors and city staff are thinking.
Rick Evon, Port Moody