Surrey City Centre site by court order

Overview

On behalf of the court appointed receiver, Alvarez & Marsal, Goodman Commercial is pleased present the exclusive opportunity to acquire a 51,344 SF (1.18-acre) multi-family development site with substantial construction already completed, in Surrey’s burgeoning City Centre neighbourhood.

Originally marketed as “Centra”, the approved project comprises a 24-storey concrete tower and 2-storey townhouse and amenity building, totaling 167 residential units above 194 stalls in two levels of underground parking.

Construction on the project has progressed to the 6^th floor above grade. Buyers can restart construction and benefit from over $23 million in hard costs spent to date, along with fully paid for entitlements and completed design drawings.

Project

Prior to construction delays, the project was successfully pre-sold; however, all contracts have since been rescinded, offering a new owner a clean slate to relaunch a sales program or reposition the asset as a market rental.

Interior specifications include wide-plank laminate and tile flooring, quartz countertops, integrated stainless-steel appliances with gas range, and central air conditioning.

A dedicated amenity building connects to the tower via a private landscaped courtyard featuring outdoor barbecue, seating, and lounge areas.

The project offers a well-balanced unit mix totalling 121,956 SF of net saleable/rentable area, with an average unit size of 730 SF.

Proposed suite mix

Location

The property sits near the eastern edge of Surrey’s rapidly evolving City Centre neighbourhood, just steps from Central City Shopping Centre and the exciting new development surrounding King George SkyTrain Station. While providing quick access to transit and amenities, this location also places residents steps from the natural escapes of Quibble Creek Greenway and Green Timbers Urban Forest.

City Centre is one of Metro Vancouver’s fastest-growing and most strategically significant urban centres. Surrey’s overall population is on track to surpass the City of Vancouver by 2029.

Significant employment and healthcare hubs are located nearby, including the SFU Surrey Campus, BC RCMP “E” Division Headquarters, and Surrey Memorial Hospital. The nearby SkyTrain station connects residents directly to Downtown Vancouver and the broader region.

Surrounded by a growing mix of retail, dining, and community amenities, this well-connected location continues to solidify Surrey City Centre as a dynamic, high-density urban hub.