The Changing Scene on the Waterfront
In the not too distant past, waterfronts were thought of as places for industry only. Riverfronts were swampy, and subject to flooding, so few people wanted to live at the water's edge. But economic changes in the 1970s encouraged industries to abandon the waterfront. Like in many other cities around the world, some people in New Westminster began to imagine the industrial waterfront as an opportunity for residences, recreation, enhanced environmental protection, and access to nature. However, some wanted financial support to keep industry on the waterfront. In 1978, announced it would close its New Westminster facility and move all of its operations to Port Moody. The first condominiums built by the First Capital City Development Company are where Pacific Coast Terminals previously stood.
As waterfront residential developments succeeded both here and in other places around the world, many people have started to think of waterfront land as too valuable for industry. This has meant that more homes are being built and there is a demand for more amenities, "green space", and cultural venues on the waterfront.