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For Sale

0.47 Acre Condo Development Site in Surrey

10984/86 Ravine Road & 10970 132 Street
City Centre, SURREY

0.47 ACRE | Residential Development Land
FIRM

The Opportunity

0.47 Acre Condo Development Site in Surrey

This offering is an opportunity to acquire a 0.47 acre, 6 storey condo development site in Surrey’s City Centre Plan. The subject property is located in City Centre’s Gateway District in the northwest quadrant of the plan and designated for development with a floor space ratio (FSR) of up to 2.5. This location benefits from being walking distance to Gateway Skytrain Station, schools and many other amenities including Central City Shopping Centre. A preliminary site plan shows 58 units across 6 floors and the future project will benefit from views of the North Shore Mountains. The two properties are improved with a duplex and single family home providing rental income until development.

Summary

Property
Attributes

Land Size

0.47 acre

Land Size (sf)

20449

Land Use Designation

Low to Mid Rise

FSR

2.5

Price

Property Taxes (2019)

$13,226.92

Location

10984/86 Ravine Road & 10970 132 Street
City Centre, SURREY

View in Google Maps

Property
Features

The Low to Mid Rise land use designation in Surrey’s City Centre Plan permits condo development up to 6 storeys at a 2.5 FSR. No development application has been submitted for the property, however a preliminary site plan illustrates a 6 storey building comprised of 52 condos, 6 ground floor townhomes and rooftop amenities to take advantage of the elevation and views to the north. Proposed density is 2.46 FSR with total buildable area of 50,256 square feet.

About The
Location

This site is centrally located in the northwest quadrant of City Centre with immediate access to King George Boulevard, Patullo Bridge, and Gateway Skytrain Station, which allows for quick transit across Metro Vancouver. The site is only minutes away from KB Woodward Elementary and Kwantlen Park Secondary School as well as SFU and Kwantlen’s Surrey campuses. Central City Shopping Centre, a number of neighbourhood parks/green spaces (including Bolivar Ravine Park coming soon only 100 metres away), and the new North Surrey Sport & Ice Complex are also nearby. Additionally, a new luxury seniors care facility is being constructed adjacent to the site.