Surrey Updates

[Westbased]

Fraser Landmark, at the corner of 140th and Fraser Highway has a sold out sign posted on site!

Did anyone even hear any marketing related to this development, I find it odd they sold out that quickly without any hint of marketing.

[GMasterAres]

Originally Posted by Westbased

Fraser Landmark, at the corner of 140th and Fraser Highway has a sold out sign posted on site!

Did anyone even hear any marketing related to this development, I find it odd they sold out that quickly without any hint of marketing.

Just marketing through their website. They contacted those of us who registered and offered us spots to look through the plans and make a purchase before releasing to the public. Appears as though enough of those that registered and got in on pre-presales actually purchased to the point they don't have to actually build a show room or do anything further.

So yah, sold out, so they can start construction asap.

[Westbased]

Originally Posted by jhausner

Just marketing through their website. They contacted those of us who registered and offered us spots to look through the plans and make a purchase before releasing to the public. Appears as though enough of those that registered and got in on pre-presales actually purchased to the point they don't have to actually build a show room or do anything further.

So yah, sold out, so they can start construction asap.

Thanks for the info!

Platinum Marketing really is great at selling units out very quickly.

[Cypherus]

Originally Posted by Westbased

Thanks for the info!

Platinum Marketing really is great at selling units out very quickly.

Marketing is only effective if there is situated demand to move a project forward. Looks like a solid development and demand outweighed supply.

[EhJay]

They were priced on the lower end of things. Definitely not an upscale development by any stretch. They knew that they were new to this type of building and didn't want to over stretch and risk getting stuck with a long drawn out process so went a bit cheaper, sold the units cheaper, and they got picked up very fast.

[Westbased]

Originally Posted by EhJay

They were priced on the lower end of things. Definitely not an upscale development by any stretch. They knew that they were new to this type of building and didn't want to over stretch and risk getting stuck with a long drawn out process so went a bit cheaper, sold the units cheaper, and they got picked up very fast.

Any info as to the average price per foot it sold for?

[GMasterAres]

I never saw a price list, sorry couldn't comment. In the 4 buildings around this on Fraser Highway, places are selling (not just listed) for between $545 and $595 per square foot.

I'd imagine they are at maximum around that price, but could be a bit lower. So for a 950 square foot 2 bedroom that would be around $500,000.

[EhJay]

Originally Posted by Westbased

Any info as to the average price per foot it sold for?

Unfortunately I didn't keep the pricing sheet that they had. But I do remember them marketing it as below average.

[Nites]

They have an excavator on site on 132nd and 88 ave and started clearing debris for the condo project in front of the fire hall 1. I believe someone here said it was 4 story with ground retail.

[Westbased]

Originally Posted by skymaster

They have an excavator on site on 132nd and 88 ave and started clearing debris for the condo project in front of the fire hall 1. I believe someone here said it was 4 story with ground retail.

Yes, I've spoken with the owner briefly and they are just updating their application and expect to break ground next year.

[Westbased]

Anthem Properties is the official buyer of the Toys R' Us site that is directly beside their Georgetown project.

They have a lot of space to make a huge impact on the city centre.

[ArmoredinRed]

First Post!

Veterans Village has been approved as of yesterday. Sounds like they could break ground later this year for phase 1 (20 stories). Phase 2 will be a reported 26 stories.

https://www.cloverdalereporter.com/news/veterans-village-project-approved-by-surrey-council-monday/

[Cypherus]

Came across the Development Proposal today at the Knight and Day Restaurant beside the CRA Tax Services Office. CRA will be flanked in between two towers - Avani to the north and this tower to the South. Looks like yet another tower in Surrey that will be part of a next development phase in the city scheduled to be completed by 2022/2023.

[EhJay]

Anyone know what company this is?

[Nites]

Originally Posted by EhJay

Anyone know what company this is?

Checked the Online Development Inquiry and no info on the developer.

[vorpalsword]

I've just been looking at some of the parcels that have been sold recently in South Surrey, and couldn't make sense of the numbers. Say for example a property is 1 acre and it has power lines and a drainage corridor running midway through it. One side of the property is zoned for multifamily in the NCP, but the half on the other side of the powerlines/drainage is not in the NCP. When determining FAR, would it just be based on the part of the property in the NCP, or the entire land area minus the areas with the power lines/ drainage corridor? Thanks

[GMasterAres]

Originally Posted by vorpalsword

I've just been looking at some of the parcels that have been sold recently in South Surrey, and couldn't make sense of the numbers. Say for example a property is 1 acre and it has power lines and a drainage corridor running midway through it. One side of the property is zoned for multifamily in the NCP, but the half on the other side of the powerlines/drainage is not in the NCP. When determining FAR, would it just be based on the part of the property in the NCP, or the entire land area minus the areas with the power lines/ drainage corridor? Thanks

I'm assuming the NCP part is fronting or near to road/neighborhood access and the other side is not, aka backs onto non-accessible land? You'd have to provide a real-world example I could look at.

But generally speaking FAR calculation is on an entire property but such a special case they might calculate it just the developable land or they'd have to subdivide the land and rezone. Also just because an NCP says X property is multi-family doesn't meant he property is actually zoned for that. NCPs are really just plans for what a city would like to see developers do. It's basically just a guide so that a developer goes "Ok well if I build to the NCP I have a far better chance of getting my rezoning and project approved." Developments though across cities though rezone properties counter to NCP.

Again without knowing an example, hard to say.

[vorpalsword]

Originally Posted by jhausner

I'm assuming the NCP part is fronting or near to road/neighborhood access and the other side is not, aka backs onto non-accessible land? You'd have to provide a real-world example I could look at.

But generally speaking FAR calculation is on an entire property but such a special case they might calculate it just the developable land or they'd have to subdivide the land and rezone. Also just because an NCP says X property is multi-family doesn't meant he property is actually zoned for that. NCPs are really just plans for what a city would like to see developers do. It's basically just a guide so that a developer goes "Ok well if I build to the NCP I have a far better chance of getting my rezoning and project approved." Developments though across cities though rezone properties counter to NCP.

Again without knowing an example, hard to say.

Thanks for the reply, I was looking at this property at 16273 20 Ave.

After viewing it with the layers on cosmos, it seems that I was wrong, and the power lines are just to one side of the property, but even in this case how exactly would they calculate FAR.

These other properties a bit below that one, at the corner of 164st and 18 ave, seem to be similar to the situation I initially described.

[GMasterAres]

I don't think FAR would really factor into any development on a property like that or out there. It is multi-family and near power lines so they are limited to basically townhouses or 4-5 storey wood condo buildings. Also the powerlines skirt a road right of way so they could only really build on the top right diagonal portion of the property.

Power lines maybe green space, bit they wouldn't be able to build anything under them.

Likely you'd see those properties subdivide.

But yah I doubt FAR would really matter, not on an RM zone.

[Nites]

In front of City Centre 2.