Third reading wood-frame site

20212 & 20186 86 Avenue, Langley

$16,000,000

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Price $16,000,000

Property type Woodframe development site

Land area 4.68 acres (2.24 net acres)

Zoning 3rd reading approved to rezone from SR-2 to CD-186

Development potential 189,859 SF in two 6-storey buildings totaling 223 units

Price per SF buildable $84

PID 011-705-761; 006-274-072

Legal description Lot 48 section 26 Township 8 New Westminster District Plan 41858 & Lot 1 Section 26 Township 8 New Westminster District Plan 78565

Overview

This offering represents an opportunity to acquire a 4.68-acre 3rd reading wood-frame development site in Langley’s Carvolth neighbourhood of Willoughby. The property is situated at 86th Avenue and 202nd Street, offering convenient access to transportation and amenities.

A proposed rezoning from Suburban Residential Zone (SR-2) to Comprehensive Development Zone (CD-186) received 3rd reading approval from the Township of Langley in July 2023. The application features 223 apartment units in two 6-storey buildings totaling 189,859 SF of buildable area. Unit sizes range from 491 to 1,073 SF, with an average of 700 SF. The 4.68-acre site (330.38′ x 618.77′) has a net area of 2.24-acres, excluding an environmental protection area and two pocket parks fronting 86 Avenue. Notably, a portion of the offsite road work and servicing has already been completed.

Location

The site is located on the south side of 86th Avenue in the Carvolth neighbourhood of Willoughby, the center of growth in the Township of Langley. The location offers convenient access to Carvolth’s extensive transportation infrastructure, with the Carvolth Exchange serving as a regional transit hub, and easy access to Highway 1 for commuters across the Fraser Valley and Metro Vancouver.

The proposed development will allow residents to enjoy two on-site pocket parks and a designated conservation area on site. Nearby amenities including the newly constructed Latimer Village, Willoughby Town Centre, Langley Events Centre, and schools for all age groups, further enhance the lifestyle of this growing community.

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Assessment 2024	Land	Land$20,070,000
Taxes 2023	$79,467.56

The information contained herein was obtained from sources which we deem reliable, and while thought to be correct, is not guaranteed by Goodman Commercial.