[Surrey] Evolve (Urban Village Phase 4) | 115m | 36 fl | U/C

[GMasterAres]

Has been posted in the Urban Village thread and Surrey thread but now that it is going to council next week, figured it should have its own thread.T

his is the next high-rise in the West Village development they seem to be calling West Village Site D or Urban Village Phase 4. To be beside the recently completed 35 floor Urban Village tower and under construction Wave/Wynd towers.

This would complete the block facing 133 Ave. After this phase they will move onto filling out the block along 133a Ave (other side).

http://www.surrey.ca/bylawsandcounci...12-0325-00.pdf

[Klazu]

Clean lines and nice shape. Nothing that outstanding, but very nice project nonetheless.

[Blease]

If Surrey City Centre is turning into a mini Manhattan, then these set of buildings off 133 street will surely be Mid-town!

[GMasterAres]

Mini Manhattan I think is a bit of a stretch but it will definitely be a good addition.

[Cypherus]

Looking forward to this one. Nice simple design. Just received the Notice of Public hearing in the mail confirming 36 fl proposal - 1 floor taller than Ultra.

[GMasterAres]

What I like about the overall project is the design but also the density given the proximity to Surrey Central. If you take into account other projects around that 2 block by 2 block square, within 15 years the total tower count could be as high as 20 high rises. If you look in Burnaby today and measure the same distance out, the closest density is around Patterson and near Brentwood with a maximum of 10-12 towers.

So that's double the density of high-rises. Similar densities are being built around King George Station right now and several projects are in consideration to continue that same trend around Gateway. It is conceivable within 20 years if things remain at the same pace as they are today that Surrey Central could easily house 50-60 high rise towers which would give it a respectable central core density wise given its continued status as a suburb.

[Cypherus]

Visited the sales center today.
Expected construction is in 3 months or September 2015.
Completion is expected for December 2017 to first quarter 2018.
Still a lot of 2 bedrooms in the upper floors available.
Prices are reasonable for 2 bedrooms (lows $300Ks to $500K for executive levels) but the prices do not include GST, and the builder does not claim the GST rebate on your behalf for homes less than $450,000 valuation. You can negotiate a bit as it is a buyers' market with the other towers going up in the neighborhood.
They want 15% down over the first 6 months after signing. Pay nothing more until possession.

I was going to pull the trigger on an upper 2 bedroom northwest view unit, but noticed that Wave 1 tower will block the views to the north making it a deal breaker. Unless you are on the 31 to 35th floor, the views will be hampered. 36th floor is amenities and remaining height is the mech-house.

[yuanh]

Originally Posted by Cypherus

Visited the sales center today.
Expected construction is in 3 months or September 2015.
Completion is expected for December 2017 to first quarter 2018.
Still a lot of 2 bedrooms in the upper floors available.
Prices are reasonable for 2 bedrooms (lows $300Ks to $500K for executive levels) but the prices do not include GST, and the builder does not claim the GST rebate on your behalf for homes less than $450,000 valuation. You can negotiate a bit as it is a buyers' market with the other towers going up in the neighborhood.
They want 15% down over the first 6 months after signing. Pay nothing more until possession.

I was going to pull the trigger on an upper 2 bedroom northwest view unit, but noticed that Wave 1 tower will block the views to the north making it a deal breaker. Unless you are on the 31 to 35th floor, the views will be hampered. 36th floor is amenities and remaining height is the mech-house.

thx for the info. Did they mention who will be the strata?

[Cypherus]

Originally Posted by yuanh

thx for the info. Did they mention who will be the strata?

Strata is 32 cents per sq ft, which is a bit high. Usually the first year strata is cheaper, but it seems right off the bat you are paying upwards of $250-$300 for a 2 bedroom. I believe strata will be AWM Alliance - the same as Ultra.

[w34lth]

Originally Posted by Cypherus

Strata is 32 cents per sq ft, which is a bit high. Usually the first year strata is cheaper, but it seems right off the bat you are paying upwards of $250-$300 for a 2 bedroom. I believe strata will be AWM Alliance - the same as Ultra.

It seems that is the new going rate.

University District, Prime etc vary from .33-40cents/sqft.

[GMasterAres]

30-35c per sq/ft is reasonable for strata in many of these developments. At Verve, Porte under valued with Gateway the budget off the get go and we twice in the first year had to up the strata fees just to break even and be able to upgrade our security.

Personally, I'd rather the strata budget (and cost) be more accurate and conservative to start rather than you move in and need to hike the fees right away to cover the bills.

Will be good to see another tower going up. Sounds like Sep-Oct 2 more projects get going. Be nice if they started on Wave tower 2 because that would mean in a few years you'd have at least 5 new high-rises right around Surrey Central.

[Cypherus]

Originally Posted by jhausner

30-35c per sq/ft is reasonable for strata in many of these developments. At Verve, Porte under valued with Gateway the budget off the get go and we twice in the first year had to up the strata fees just to break even and be able to upgrade our security.

Personally, I'd rather the strata budget (and cost) be more accurate and conservative to start rather than you move in and need to hike the fees right away to cover the bills.

Will be good to see another tower going up. Sounds like Sep-Oct 2 more projects get going. Be nice if they started on Wave tower 2 because that would mean in a few years you'd have at least 5 new high-rises right around Surrey Central.

The same happened at Ultra. The rates jumped $50 - $75 the second year, which put it to normal territory.

I also heard from a representative at Weststone that Wave 2 will be on hold until the Evolve pit is excavated (no presales yet for Phase 2 Wave either).

[w34lth]

Originally Posted by Cypherus

The same happened at Ultra. The rates jumped $50 - $75 the second year, which put it to normal territory.

I also heard from a representative at Weststone that Wave 2 will be on hold until the Evolve pit is excavated (no presales yet for Phase 2 Wave either).

I was told 2 years before they go on sale by one or the reps at wave .

[GMasterAres]

Yah not surprising. Developer under-value strata budgets because it is easier to sell and it just ultimately makes the strata council look bad for needing to up the rates right away.

As for Wave 2 yah I was told by someone that sales weren't as strong as they had hoped. They tried to start selling the "Wynd" project which is phase 2 but went back to Wave and are delaying Phase 2 at least 2 years now.

Biggest issue is all the development right around them. Evolve, Prime, University, 3 Civic, etc. Makes sense for them to wait for tower 2. They at least got 1 done!

[CoryHolmes]

Wait, wait, wait. I thought this development was Evolve? This is a separate development???

[GMasterAres]

Originally Posted by CoryHolmes

Wait, wait, wait. I thought this development was Evolve? This is a separate development???

Yes this is Evolve. Sorry my comment may have been confusing I was referencing Wave Phase 2 being on hold 2 years. It is due to the other development including this one I'm sure.

I guess the title should change to reflect its name.

[Shift]

Expect to see some activity on this one shortly. A house directly to the east of the site on 133A St was torn down today (Roughly where 'Phase 6' is on the plan below) along with some others further north on 133A where 'Phase 8' is shown. Wondering if this means we will see the construction of 103A Ave ahead of development.

[Shift]

Map of the houses demolished this week and the future alignment of 103 Ave.

[w34lth]

Amy idea when road work will begin?

[Klazu]

Very helpful map. I finally understand what the plan for that area is. It wasn't clear from walking around.

Is 103 Avenue going to be street with cars or just a pedestrian street?