Residential Development in Abbotsford

2014 was a great year for residential development in Abbotsford and the trend for growth is expected to continue in 2015.

Single family development in 2014 surpassed both the 5 and 10 year averages with fewer, but much larger, subdivisions. In the first quarter of 2015 alone there were 48 new land development applications, up nearly 30% from Q1 of 2014. 80% of the new residential units are multi-family residential with a heavy focus on apartments. There are over 900 apartment units in construction right now and 69% are in mixed-use developments. Apartment sales in May of 2015 were up 17% over the same month last year.

There is a strong trend towards the development of micro-communities and Hudson’s Loft, by The Weibe Group, is a prime example of what happens when you match a modern luxurious Yaletown-style master plan community with the younger demographic of Abbotsford. The development will have its own market village, cafés, restaurants, small businesses and much more. Phase 1 of the project, which included lofts, penthouses and studios, sold out in a single day and Phase 2 is selling now.

Progress is being made on the planning and development of UDistrict, the 365 acres around University of the Fraser Valley and a key area of focus for the City of Abbotsford as attendance to the school is expected to continue to grow over the coming years. A Vancouver-based consulting firm has been selected to develop a detailed plan for UDistrict within the guidelines of the neighbourhood plan which aims to create a transit-oriented “vibrant, mixed-use neighbourhood.”

Absorption is expected to keep pace with the speed of development, largely due to Abbotsford’s affordability. The average price of a townhouse or condo sold in Abbotsford is nearly half of comparable product in White Rock and still remains significantly lower than Surrey and Langley.

2014 and early 2015 saw a number of large development land transactions in areas poised for additional multi-family and mixed-use developments so we can expect to see this growth pattern continue for quite some time.



Real Estate Weekly, New Developments database
The City of Abbotsford, 2015 First Quarter Report – Planning & Development Services
The City of Abbotsford, 2014 Annual Report on Planning & Development
Fraser Valley Real Estate Board, Monthly Statistics Package May 2015
Fraser Valley Real Estate Board, Monthly Statistics Package June 2015
Fraser Valley Real Estate Board,  Abbotsford Statistics

Justin Mitchell

Personal Real Estate Corporation

Founding Partner
Residential Development Land
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