WE DON'T WANT TO DO ANYTHING ANYWHERE...

What One Comment Reveals About Today’s Development Land Market

As someone who spends every day in the development land market across Metro Vancouver, I pay close attention not just to transactions, but to sentiment. Sometimes, a single offhand comment can tell you more about the market than a decade of sales comparable data.

I recently had a conversation with a prominent local developer that stuck with me. When I asked about their appetite for new acquisitions, their response was telling:

“We don’t want to do anything anywhere, but if we did, it would be in Port Coquitlam.”

At first glance, it sounds like hesitation, and to some extent, it is. But more importantly, it highlights where experienced developers see relative opportunity in an otherwise uncertain market.

Reading Between the Lines

There are two key takeaways from this type of feedback:

1. Capital is still cautious, but not sidelined indefinitely.

Developers today are more selective than they’ve been in years. A shaky market, rising construction costs, financing challenges, and policy uncertainty have slowed decision-making. But “we don’t want to do anything” doesn’t mean “we won’t do anything.” It just means the bar is higher.

2. Location preferences are becoming more focused.

When an experienced developer singles out a place like Port Coquitlam, it’s not at random. Markets attracting investment interest today must offer a combination of relative affordability, improving infrastructure, and most importantly, stable and predictable municipal processes accompanied by realistic development fees.

Why Port Coquitlam Stands Out

In a cycle where risk is being scrutinized more carefully than ever, developers are gravitating toward municipalities that offer:

• Lower land prices compared to core urban and suburban markets

• Clearer planning frameworks and fewer surprises in approvals

• Lower municipal fees and a pro business mindset

• End-user demand from both local and migrating populations

• Infrastructure tailwinds, including transit and road connectivity improvements

Port Coquitlam checks all of these boxes. PoCo not have the same headline appeal as West Broadway, Metrotown or Burquitlam, but in today’s environment, that’s part of it's strategic advantage.

The Bigger Picture

This kind of sentiment reflects a broader shift in the market. We’re moving from a phase of aggressive expansion to one of disciplined deployment. Developers aren’t chasing opportunities, they are only (somewhat cautiously) pursuing the right ones.

And when they do act, they’re increasingly targeting submarkets where fundamentals are quietly strengthening rather than already fully priced in.

Final Thoughts

If you’re active in the development land space, it’s worth paying attention to these subtle signals. The market isn’t frozen, it’s recalibrating. And in many cases, the best opportunities emerge not when confidence is highest, but when conviction is selective.

That one comment—“we don’t want to do anything anywhere, but if we did…”—perfectly captures where we are today.

Cautious. Focused. Still very much in the game.