Lines formed at dawn for the first release of Polygon Homes’ Ridgewood community in Coquitlam, B.C., a testament to its strong appeal on value and that buyers are returning despite economic uncertainty says company president Neil Chrystal.

A three- and four-bedroom townhome community on Burke Mountain, Ridgewood's first release of 22 units sold within a few days, with aspiring buyers queueing up as early as 5:45 a.m. on launch day. An additional 10 units were released, and eight of those have also been snapped up.

Despite a slow first three months for housing in 2025, compounded by ongoing turmoil over trade, politics and the economy, the rapid sales for Ridgewood have exceeded expectations. In response, Polygon plans to accelerate the next release of 30 units and will be selling more in the coming months.

Polygon “took the approach we’re going to price the homes fairly and offer future residents good value,” Chrystal told RENX Homes.

Ridgewood's success is also evidence of buyers releasing pent-up demand, with growing impatience at waiting for better conditions. Buyers, Chrystal said, are deciding “let’s just get on with it and make that decision to move forward.”

Ridgewood

Planned as a three-phased, 101-townhome project, work on Phase 1 of Ridgewood is nearing completion with units expected to be ready for move-in by the late summer. Construction on Phase 2 is ongoing, scheduled to be finished by late spring 2026. A start date for Phase 3 is not set yet.

The mix of three- and four-bedroom units is split roughly 50/50. Plans for the three-bedroom units are from 1,400 to 1,500 square feet, with the four-bedroom models at approximately 2,300 square feet. Pricing for the three-bedroom units is approximately $1.1 million; the four-bedroom units between $1.3 million to $1.4 million.

Polygon has seen two distinct buyers for Ridgewood: people moving up from a smaller residence, and people downsizing from a single-family home.

Located on the south-facing slope of Burke Mountain, Chrystal highlighted the abundant daylight and views of the Fraser Valley as elements that make it unique in Polygon’s portfolio.

Ridgewood will be in the heart of an emerging neighbourhood that is adding residential communities and schools, he added.

Polygon is not new to Burke Mountain; this is its 10th community in the region. Polygon is also working on Partington Creek, with more projects coming, according to Chrystal.

“We love building in Coquitlam. Burke Mountain in particular,” he said. “When you move into this neighbourhood, everything is clean and fresh and all the amenities are new; it’s on the edge of an urban forest with lots of natural amenities outside.”

There will be no on-site amenities, but hiking and biking trails to Burke Mountain weave throughout Ridgewood and a major community centre is planned just two blocks away.

Active buyer’s market anticipated

The high demand for Ridgewood is bucking the slowdown in sales across the Greater Vancouver Area. March home sales in Metro Vancouver fell to the lowest levels since 2019, with buyers staying put despite softening prices and declining interest rates.

In Chrystal’s view, Ridgewood defies the trend because it offers prices below buyers’ expectations with an appeal to their lifestyles. As a newer community, Polygon can price closer to the current market conditions.

Though the economic uncertainty, a trade war between Canada and the U.S. and the federal election has made some homebuyers hesitant, Chrystal believes that dynamic will shift soon.

After deliberating for over a year because of high mortgage rates, concerns over job security and tariffs, people will need to move on. Couples looking to add children need more living space. With mortgage rates settled in and expectations that tariffs will increase costs for delivering new housing, some buyers are concluding now is the time to buy.

“At some point in time, it’s time to move forward,” Chrystal said. “You can wait for mortgage rates to fall back to where they were during COVID, but the truth of it is, they’re not.”

Another factor Chrystal cited is major Canadian political parties proposing policies to stimulate activity with tax relief and new programs, which stokes buyer confidence.

He anticipates more prospective buyers coming off the sidelines over the next two to six months. Confirming his analysis is the “swell of subtle market activity” he is seeing.

About Polygon

A homebuilder that has been operating in the Greater Vancouver Area for over 45 years, Polygon has built over 33,000 multifamily homes in building types including row townhomes, six-storey wood-frame apartments and highrise apartments.

Its projects also include the condo Elle in Vancouver and townhome community Westhampton in Delta.

The multifamily segment is its specialty and where it started. While Polygon does have a single-family homebuilding business named Morningstar Homes, its growth is inhibited by the limited availability of single-family lots in the Greater Vancouver Area, Chrystal explained.

Another 4,000 units of multifamily housing are in the works, with Polygon having over 20 projects in the market or under construction. An example is East Ridge, a community of three- and four-bedroom townhomes like Ridgewood, planned for East Abbotsford.