[Surrey] One Central | 134m | 46fl | U/C - Page 4

rickvug · #61 Posted **May 12, 2017, 9:12 PM**

Quote:

Originally Posted by Shift

Surprised to see this too for such a large building. Could be the largest rental tower in the region?

There is a 40 floor, 398 unit rental building being built right beside New Westminster Station. It has been quoted as "the largest single rental tower in Western Canada" (source). At 46 stories and 550 units this is bigger.

Shift · #62 Posted **May 12, 2017, 9:26 PM**

Also from the Council presentation - this building will have the deepest parkade/excavation in Surrey at 7 levels below ground.

Shift · #63 Posted **May 14, 2017, 11:47 PM**

Excavator was on-site this weekend doing some clearing. May see the whole site cleared, trees torn down this week?

Nites · #64 Posted **Mar 11, 2018, 1:10 AM**

This project is still moving. Some recent activity on the application page.

Shift · #65 Posted **Mar 11, 2018, 1:53 AM**

I would expect this to start early 2019 - maybe late 2018. Once evolve finishes.

Flynn86 · #66 Posted **Jun 13, 2018, 4:04 AM**

Im guessing this project wont break ground till Evolve is done?

Nites · #67 Posted **Jun 19, 2018, 8:35 AM**

Quote:

Originally Posted by Flynn86

Im guessing this project wont break ground till Evolve is done?

I can't see why they wouldn't be able to start now. The weather is definitely permitting.

Nites · #68 Posted **Jul 6, 2018, 6:16 AM**

status: denied ??

osirisboy · #69 Posted **Jul 6, 2018, 3:31 PM**

So the rezoning was denied? Doesn't this fall exactly within what the city wants here?

Shift · #70 Posted **Jul 6, 2018, 6:08 PM**

Looks like the denial was due to new owners 'Aoyuan' wanting to switch to market housing from rental. A rental building was approved at 3rd reading in 2017 and Council wanted a housing agreement at that time to ensure it remained rental. Council wants to see purpose-built rental in the area. Good for them denying this attempt to switch it.

"At the May 8, 2017 Regular Council – Public Hearing meeting, Council passed resolution R17-1496 directing staff to work with the applicant to draft a
Housing Agreement prior to final adoption. The applicant has elected to proceed with a market strata development and will no longer proceed with a rental building. The Housing Agreement is therefore no longer required."

Sounds like Aoyuan will not be proceeding with the project now - and it may be up for sale. Whoever becomes the new owner wishing to proceed with the rental project will now have to submit a new application but staff has advised that application would be expedited through the process.

Page 28 of the minutes document:

https://www.surrey.ca/bylawsandcounc...2018_06_25.pdf

Westbased · #71 Posted **Jul 6, 2018, 6:33 PM**

Quote:

Originally Posted by Shift

Looks like the denial was due to new owners 'Aoyuan' wanting to switch to market housing from rental. A rental building was approved at 3rd reading in 2017 and Council wanted a housing agreement at that time to ensure it remained rental. Council wants to see purpose-built rental in the area. Good for them denying this attempt to switch it.

"At the May 8, 2017 Regular Council – Public Hearing meeting, Council passed resolution R17-1496 directing staff to work with the applicant to draft a
Housing Agreement prior to final adoption. The applicant has elected to proceed with a market strata development and will no longer proceed with a rental building. The Housing Agreement is therefore no longer required."

Sounds like Aoyuan will not be proceeding with the project now - and it may be up for sale. Whoever becomes the new owner wishing to proceed with the rental project will now have to submit a new application but staff has advised that application would be expedited through the process.

Page 28 of the minutes document:

https://www.surrey.ca/bylawsandcounc...2018_06_25.pdf

Wow, do you happen to know if WestStone is still involved or they had flipped it to Aoyuan?

Shift · #72 Posted **Jul 6, 2018, 7:12 PM**

Quote:

Originally Posted by Westbased

Wow, do you happen to know if WestStone is still involved or they had flipped it to Aoyuan?

I’m not really sure. I assumed they were partnering with WestStone maybe, since the site is within WestStone’s ‘West Village’ master planned community. Could check the ownership on title.

Flynn86 · #73 Posted **Jul 6, 2018, 11:38 PM**

I hope someone builds this building it's a nice looking one

GMasterAres · #74 Posted **Jul 7, 2018, 6:01 AM**

Good for them. I'm glad it was denied if they were pulling that BS. The housing crisis is here NOT because of foreign buyers or any BS like that but entirely because no rental buildings are being built anymore and since the 90s.

Only real solution is to build rental only buildings so this company decides "wow market is getting hot in Surrey Central, let's try to sneak a switch in there in an election year, maybe they aren't paying attention lawlz we'll make more money."

There's enough market housing going up.

EhJay · #75 Posted **Jul 7, 2018, 2:21 PM**

Yeah, I'm in full support of council holding too on this. Hopefully they keep that mentality up even after the election.

Shift · #76 Posted **Jul 12, 2018, 5:51 PM**

New application has been submitted for this by same owner - Aoyuan - specifically for market condos.

Sounds like the exact same proposal just under a different number that has to go through the process again (although expedited with all the work already done basically).

Guessing it was a process issue why it couldn't be approve it under the old application since it was approved at third reading for all rental? But they are free to re-submit an application for a market condo tower? Will have to watch the Council video.

"Development Permit of a 44 storey tower with 13 storey podium market condo building with ground floor retail. Rezoning RF to CD (RM-135 / C-5). Subdivision Consolidation 2 lots to 1 lot."

https://apps.surrey.ca/Online-Develo...ar=18&seq=0244

GMasterAres · #77 Posted **Jul 12, 2018, 6:33 PM**

Have a feeling this project is going to have a tough go of it given the history and the change. It will have to go through public hearing again. We'll see. I for one am honestly miffed that they are changing it to market housing because that just smells of wanting to cash in on a booming condo market.

I understand business wise why they are doing it, but if cities want to get real about the housing crisis in Metro Vancouver, market rental buildings ARE the only viable solution. All the rest that has been done from tightening mortgage rules to these ridiculous taxes we're seeing from the Province and City of Vancouver, do nothing for affordability and actually have the opposite effect in that it drives down supply, and makes actually qualifying for mortgages more difficult so even if prices do drop a bit, most people can't qualify.

It also increases rents because those still buying as investments suddenly have higher mortgages so they push the monthly rents up to accommodate, and as EVERYONE does it, it makes things even more unaffordable.

Only solution is purpose-built rental buildings and this would have been a perfect project for the area especially in the center of a post secondary hub with SFU and KPU right there.

Blease · #78 Posted **Jul 12, 2018, 6:46 PM**

Quote:

Originally Posted by jhausner

Have a feeling this project is going to have a tough go of it given the history and the change. It will have to go through public hearing again. We'll see. I for one am honestly miffed that they are changing it to market housing because that just smells of wanting to cash in on a booming condo market.

I understand business wise why they are doing it, but if cities want to get real about the housing crisis in Metro Vancouver, market rental buildings ARE the only viable solution. All the rest that has been done from tightening mortgage rules to these ridiculous taxes we're seeing from the Province and City of Vancouver, do nothing for affordability and actually have the opposite effect in that it drives down supply, and makes actually qualifying for mortgages more difficult so even if prices do drop a bit, most people can't qualify.

It also increases rents because those still buying as investments suddenly have higher mortgages so they push the monthly rents up to accommodate, and as EVERYONE does it, it makes things even more unaffordable.

Only solution is purpose-built rental buildings and this would have been a perfect project for the area especially in the center of a post secondary hub with SFU and KPU right there.

Why not just let the markets take care of the rental crunch??? Government regulations usually do a piss poor job of stuff like this.

EhJay · #79 Posted **Jul 13, 2018, 4:15 AM**

Quote:

Originally Posted by Blease

Why not just let the markets take care of the rental crunch??? Government regulations usually do a piss poor job of stuff like this.

Look how well False Creek worked out. Perfect blend of different housing types (market, rental, social) and how desireable and nice the neighbourhood is now. You can't blatantly say that the government does a bad job.

pomonke · #80 Posted **Jul 19, 2018, 3:29 AM**

Quote:

Originally Posted by dcman72

In the plans Lot 7 is a holdout. Is it likely that it's just an owner who's waiting to the last possible moment to sell so they maximize their profit or someone who just doesn't want to sell? I'm just thinking what happens is situations where you have this odd piece of land where someone doesn't sell. Could it end up being an eyesore?

dcman72 your existence is a fxxking eyesore