Quote:
Originally Posted by Spr0ckets
That's just an unrealistic expectation given the current market - that any developer is going to include that much office space in a development of this size.
Even the City staff that said that has to know this.
And not just in Surrey, but anywhere else in the metro region that's not Downtown Vancouver (....and even there, not likely so).
It would have made sense to require something like Hotel, which is a better bet for feaasibility in the current market, but there again without an established Hotelier partner to run the hotel component (and have their brand name on it), you're risking a poor ROI.
I might agree with the parking in the podium, but I imagine the reason they're going that route is to tamp down construction costs from having to excavate and construct several levels of underground parkade, and also taking advantage of the elimination of parking minimums thanks to TOA legislation given their proximity to Transit - to reduce their parking stalls count..
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I agree, but that said then it should probably remain undeveloped for now. This is a core intersection in Surrey Central and whatever is built there will be there for 40+ years likely. The market today will not be the market in 5 years or 10 years or 20 years so if it doesn't meet the OCP in such a key area, I think Council should tell them to go away and come back later. That's their problem they bought when they did and are trying to develop when they are. We have City plans for a reason.
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