For Sale
$80,000,000

30.5 Acre Multi-Family Development Site

3660 - 3720 152 Street
South Surrey, SURREY

30.5 ACRES | Residential Development Land

The Opportunity

30.5 Acre Multi-Family Development Site

This offering presents a rare opportunity to acquire a large-scale, readily developable, multi-family development site in the Rosemary Heights Central neighbourhood of South Surrey. With the future of the emerging Grandview neighbourhood plans uncertain, the supply of readily developable land continues to be constrained, particularly for multi-family sites of this scale.

Download brochure

Summary

Property
Attributes

Land Size

30.5 acres

Net developable area

18.03 acres

Designation

Urban (Townhouse - 30 UPA)

Price

Sale Price

$80,000,000

Location

3660 - 3720 152 Street
South Surrey, SURREY

View in Google Maps

Property
Features

Surrey’s Official Community Plan designates the subject site as Urban, which permits townhouse development up to 30 units per acre. For the purposes of this density calculation the net site area is approximately 22 acres. Various site plans have been created (see brochure) highlighting potential designs for the site; however, as the site has yet to go before council and due to the OCP’s support for greater density, an opportunity exists to improve site efficiency and/or yield. The most recent site plan shows 226 townhouses, 63 condos and a 4 acre parcel for a school but is far below OCP density. Approximately 10 acres of land is dedicated for streamside protection of the Nicomekl River and an adjacent pedestrian pathway and park area.

About The
Location

The subject site is located on the northern border of South Surrey’s Rosemary Heights Central neighbourhood plan, in an area of Grandview that is predominantly built out. The site is bordered by townhouse and compact single family development on the south and east, and by the Nicomekl River to the north. A short 5 minute drive to the south, you will find Southpoint Exchange Mall which offers amenities including grocery, banking, shopping, and restaurants. The amenity rich Morgan Crossing and Grandview Corners are also nearby. Rosemary Heights is home to some of Surrey’s best public and private schools and also benefits from local parks and an excellent location on the boundary of the plan area, providing quick access in and out of South Surrey via Highway 99.