Surrey/South Fraser Updates

[kja384]

Originally Posted by SpongeG

Thanks, I've passed that building a few times this week, due to roadworks on 108th. The building is fenced off and the windows are all boarded up, looks like demolisition could be happening soon. So that site will become a highrise? that's quite the change.

It still needs to be approved. If it was around the 20 storey mark like Vivere by Solterrra I think it would be good. 36 storeys is something you would expect in the city centre, not here. Even in the areas designated for higher density I don't think there is a single proposal for anything over 26 storeys in Guildford.

[SpongeG]

there's a 31 storey tower proposed next to the Sheraton Guildford, they also want to add 3 floors to the office building next door to make it 6 storeys.

There are quite a lot of things proposed or starting in the Guildford area, finally some empty lots just werst of GTC should be getting developed with a few random 6 storey condos. The old Sushi restaurant near the theatre seems to have a tower proposal with office as well.

I look forward to more height in the Guildford area, I guess the city sees Fleetwood Skytrain station as being a quick transfer away from the Guildford area.

[osirisboy]

I don’t think 36 is tall for guilford

[Mishpet1]

Originally Posted by kja384

Looks like 424 total rental units in two 6 storey buildings. The owner of the property originally proposed this development 3 years ago, it appears they were just waiting for the units to empty out.

https://www.surrey.ca/sites/default/...20-0143-00.pdf

Thanks for the info. Looks interesting.

[SpongeG]

The towers in Langley have signs up for walk-throughs. So move ins should start soon?

[kja384]

Brutal news from MLA Canada regarding Bridgecity by Oviedo where they believe less than 30 units have sold in the first month, when there are 600+ units in the first release.

Definitely went way out of their depth, far more reputable developers have sites in better locations.

[SpongeG]

it is an odd spot right now, it could improve in a decade. Is it the lack of overseas investors or locals can't afford it?

[kja384]

Originally Posted by SpongeG

it is an odd spot right now, it could improve in a decade. Is it the lack of overseas investors or locals can't afford it?

Most likely a combination of more reputable developers having sites in areas closer to the skytrain, and the presale market is general is just slowing down.

They had around 400 homes below $600k so I don't think price was the issue. Studios from $380k, 1 beds from $540k, and 2 beds from $722k.

[logicbomb]

Originally Posted by kja384

Most likely a combination of more reputable developers having sites in areas closer to the skytrain, and the presale market is general is just slowing down.

They had around 400 homes below $600k so I don't think price was the issue. Studios from $380k, 1 beds from $540k, and 2 beds from $722k.

Bolivar heights and Bridgeview is pretty bland. It's pretty much a bedroom community with no real amenities. Investors are pretty turned off from the area and are electing to invest in developments closer to Central City.

I think a Brentwood-like development with retail and restaurants near Gateway (where the vacant lots are) would be massive in reinvigorating the area.

The 108th corridor as well is pretty unexciting. Early drafts did show potential storefront retail/food/daycares being incorporated in some developments but most of these were not included in the final plan. These new builds will pretty much just be rentals for international students.

https://dailyhive.com/vancouver/scot...rrey-area-plan

City staff have also indicated their intention to add more high-density development near the intersection of Scott Road/120 Street and 80 Avenue. The 37-storey Delta Rise condominium tower, built in 2017 on the Delta side of Scott Road/120 Street at this intersection and the first and only high-rise building along the Scott Road/120 Street corridor, serves as a focal point for new density in the area on both the Surrey and Delta sides of the street.

Currently, the study area has a residential population of about 41,000 people living in approximately 12,200 homes, with 64% of residents being of South Asian descent. About 59% of residents own their homes, while 41% rent. The area also has approximately 4,500 existing jobs, with the majority in the industrial sector.

Over the long term, once the area plan is fully implemented, the City’s preliminary forecasts estimate that there could be between 33,000 and 51,000 additional homes, leading to a new residential population of between 105,000 and 160,000 residents — up to four times the current population.

This is much needed but these plans needs to incorporate hubs with schools, daycares and other amenities. This City is doing a rather piss poor job at planning for the future.

[jollyburger]

Landa's Lucent project in Surrey

• Video Link

[kja384]

Originally Posted by kja384

Site Of Foreclosed 67-Storey AimForce Project In Surrey Listed For $75M

https://storeys.com/aimforce-10227-k...osure-listing/

The appraisals are all over the place, $45m, $75m, and $95m.

Could definitely see Anthem buying it and doing something similar to their Citizen project. Though they are moving incredibly slowly on their Georgetown project compared to their projects in other municipalities. I think the buyer pool for this site is going to be very small.

The listing is now $60m

https://www.realtor.ca/real-estate/2...ulevard-surrey

[Equinox71]

Surrey council OKs 30-storey tower for Fleetwood

https://www.surreynowleader.com/loca...etwood-7537852