The transformation of the Coquitlam’s North Road corridor is no longer on the horizon, it’s well underway. With 2,673 new homes slated to complete across the city in 2025, this once-quiet corridor is evolving into one of the Lower Mainland’s most active residential hubs.
Fuelled by SkyTrain expansion and a surge of residential development, the North Road corridor, which bridges Burnaby and West Coquitlam, has rapidly gained traction with homebuyers and investors alike. Now, as towers reach completion and new amenities open their doors, the community is entering a new chapter of vibrancy and livability.
A Neighbourhood Redefined
In recent years, thousands of residents have moved into newly built homes across the corridor. This influx has spurred a wave of activity: new cafés and restaurants, expanded grocery options, and an increase in service-oriented retail that has helped anchor the area as a true urban village. Major projects like Burquitlam Park District and The CIty of Lougheed have further shaped the landscape, introducing parks, community space, and transit-connected convenience.
These shifts are part of a broader evolution across Coquitlam, a city that continues to mature, densify, and attract a growing population of first-time buyers, young families, and end-users seeking long-term value.
Presale Still Holds Strategic Value
While resale activity has increased, with condo inventory up 75% year-over-year, presale remains a strategic option for today’s buyers. With many developers offering incentives such as reduced deposit structures, $50K credits, and flexible payment schedules, presale provides a way to lock in pricing now, while planning for the future.
Despite a quiet new project launch environment so far this year, several key concrete and wood-frame projects remain active or are set to launch in the coming months, particularly in high-demand areas like the North Road Corridor, Coquitlam Town Centre, and Burke Mountain.
For buyers looking to align life plans with future homeownership goals, presale remains a compelling option, particularly in growth-oriented corridors like North Road, where new infrastructure and investment continue to take shape.
Federal Policy Tailwinds Are Taking Shape
The results of Canada’s recent federal election add another layer of momentum. Several key housing measures are now moving forward, including:
GST exemption for first-time buyers on new homes under $1 million
Commitments to accelerate housing supply via public land development and streamlined approvals
Potential restrictions on short-term rentals, aimed at improving long-term supply
Personal income tax relief and elimination of the carbon tax, increasing affordability and reducing operating costs
These changes may boost buyer confidence and renew demand in key mid-market communities like Coquitlam, particularly among first-time home buyers and young families looking up upsize..
Final Thoughts
With strong political signals, significant new housing completions, and a maturing neighbourhood fabric, the North Road corridor is poised for long-term growth. While resale may be capturing headlines, presale remains a strategic investment, especially when aligned with future lifestyle plans and access to incentives not available in the resale market.
At MLA Canada, we continue to track local and national trends with clarity and purpose, helping our clients navigate market shifts and seize emerging opportunities.
