What Happened

Wesbild has begun selling the Towns at Burke, a new development of 35 townhouses located in Coquitlam’s Burke Mountain neighbourhood. The project, situated near forested trails and a site designated for a future elementary school, features seven contemporarily designed buildings. Units range from 1,400 to 1,600 square feet and include three-bedroom layouts with spacious kitchens and SMEG appliances. First homes are expected to be ready for occupancy in the fall.

The launch comes at a strategic moment as market data indicates a significant pivot in buyer preference away from small condominiums toward ground-oriented housing. In Metro Vancouver, the number of unabsorbed apartment units reached 4,376 in May 2026, marking an all-time high. In contrast, the inventory of unabsorbed semi-detached units stands at 515, and unattached row houses at 861, highlighting a scarcity of townhouse supply relative to demand.

This shift is supported by recent regulatory changes in Coquitlam. In June 2025, the city council adopted zoning bylaw changes to implement provincial legislation regarding Small-Scale Multi-Unit Housing. These updates allow up to four homes to be built on most single-family lots, expanding ground-oriented multi-unit options across low-density residential areas. Wesbild’s senior vice president of development, Lilian Arishenkoff, noted that the units are entering the market as homebuyers move away from small condos in tall towers that were primarily built for investors.

Why It Matters

The launch of the Towns at Burke signals a tangible correction in the Greater Vancouver housing market, where the oversupply of investor-focused condominiums is clashing with a renewed demand for family-oriented, ground-level housing. The stark contrast between the 4,376 unabsorbed apartment units and the significantly lower inventory of townhouses (515 semi-detached and 861 row units) suggests that developers who continue to focus on small condos may face prolonged absorption periods. Conversely, projects like Towns at Burke that offer space and privacy are positioned to capture buyers who are exiting the condo market.

Furthermore, the project illustrates the practical impact of Coquitlam’s 2025 zoning reforms. By aligning local bylaws with provincial mandates for Small-Scale Multi-Unit Housing, the city has unlocked density in areas previously restricted to single-family homes. This regulatory shift not only increases the potential supply of townhouses but also changes the demographic profile of new developments, catering more directly to families seeking proximity to amenities like schools and trails rather than high-density urban cores.

Local Vancouver / Burnaby Context

In Coquitlam, the regulatory landscape has shifted significantly to accommodate the provincial requirement for small-scale multi-unit housing. The city’s expansion of zoning permissions to allow up to four units on most single-family lots has facilitated a new wave of ground-oriented developments. This policy change is particularly relevant in neighbourhoods like Burke Mountain, where land availability and proximity to future infrastructure, such as the planned elementary school, make townhouse projects viable and attractive to families.

Regionally, the Metro Vancouver housing market is experiencing a divergence in performance between property types. The high volume of unabsorbed apartments indicates a saturation in the investor-driven condo segment, likely exacerbated by the rise of short-term rental regulations and changing investor sentiment. Meanwhile, the townhouse segment remains tight. This dynamic is consistent with broader trends in the 低陆平原, where buyers are prioritizing long-term livability and space over the compact footprints typical of high-rise condos built for rental yields.

Local context also includes the broader economic environment influencing buyer confidence. With mortgage rates and affordability pressures remaining key factors, the shift toward townhouses reflects a desire for assets that offer more utility per square foot. The presence of developers like Wesbild launching projects in established neighbourhoods like Burke Mountain demonstrates confidence in the local market’s ability to absorb larger, family-sized units despite the condo oversupply.

Market Impact

For the condo market, the high inventory of unabsorbed units (4,376 in May 2026) suggests continued price pressure and longer selling timelines for smaller units, particularly those marketed to investors. For the townhouse market, the limited supply (515 semi-detached, 861 row units) supports stronger pricing power and faster absorption for well-located projects like Towns at Burke. This divergence may lead to a bifurcation in the market, where family-oriented properties maintain value while investor-focused condos struggle.

Land values in Coquitlam and similar suburban municipalities may see increased interest from developers seeking to capitalize on the zoning allowances for small-scale multi-unit housing. The feasibility of building townhouses on standard lots is improving, potentially leading to more infill development in low-density areas. This could gradually increase the supply of townhouses, but the current gap between supply and demand remains wide.

Builder / Developer Perspective

Developers are increasingly recognizing the need to pivot from small condos for investors to ground-level units for families. The Towns at Burke project exemplifies this strategy, offering larger units (1,400–1,600 sq ft) that appeal to end-users. The feasibility of such projects is enhanced by Coquitlam’s zoning changes, which allow for greater density on standard lots. However, builders must navigate the complexities of infill development in established neighbourhoods, including proximity to existing infrastructure and community amenities. The shift also requires a different marketing approach, focusing on lifestyle and long-term value rather than rental yields.

BurnabyHouse Insight

The Towns at Burke launch is a microcosm of a larger structural shift in the Greater Vancouver housing market. The era of small condos built primarily for investors is showing signs of fatigue, evidenced by the record 4,376 unabsorbed units. Buyers are returning to the ground, seeking the space and privacy that townhouses provide. Coquitlam’s proactive zoning reforms have positioned the city to capture this demand, particularly in family-friendly neighbourhoods like Burke Mountain. For local readers, this signals a continued divergence in the market: townhouses in well-located suburbs will likely outperform condos in terms of stability and value retention, while investors should exercise extreme caution in the high-inventory condo segment.