The MLA Canada Spotlight Series is designed to deliver actionable intelligence into the residential real estate market. This report series is to provide insight into the up-and-coming marketplace for homebuyers, developers, and real estate industry professionals alike, offering a comprehensive overview of both the quantitative and qualitative characteristics of trending sub-markets in the Lower Mainland.
This article is one of many in this unique feature series, focusing on Surrey Centre. Brought to you by the MLA Canada Advisory Team.
The City of Surrey, which is the second most inhabited region in Metro Vancouver (housing nearly 600,000 people as of 2020) and encompasses the most land inside its borders, has the tagline “The Future Lives Here.” And indeed, with a diverse population and industries ranging from clean energy to health tech calling the area home, lives up to the saying.
Situated south of the Fraser River, surrounded by Delta to the west, Langley to the east and the United States underneath, the city is about a 45-minute drive to Downtown Vancouver and is made up of six key neighbourhoods: North Surrey, Guildford, Cloverdale, South Surrey, Newton, and Fleetwood.
In terms of key residential locations within Surrey Centre, there are a few major centres as noted below, all currently experiencing changes and evaluating potential improvements to meet the demands of a growing number of residents expected to rise significantly in the coming years.
Central downtown
The heart of Surrey serves as a transit hub transporting people to and from various parts of the municipality as well as all over the Lower Mainland. VIA Architecture, in partnership with the CoS, TransLink and Simon Fraser University, unveiled the Surrey Central Exchange Concept Plan proposing infrastructure upgrades like a relocation of pick up/drop off and layover facilities, to realize a more pedestrian-oriented urban design vision.
A Surrey-Delta RapidBus is also being considered to provide faster and more frequent bus service between the two cities, operating primarily on Scott Road representing the busiest route south of the Fraser. And in 2019, SFU opened a new $126 million five-story sustainable building, part of a multiple-phase expansion to supplement the original satellite campus.
King George
King George Boulevard runs right through the middle of Surrey’s aforementioned emerging downtown core, adjacent to the landmark Central City shopping mall due for major renovations. A second 382-foot tall office tower is set to be built on site that contains shops and restaurants as well and expected to employ around 3,500 people.
To increase viable alternative mobility options in the area, approximately six kilometres of protected cycling routes will be built using $1 million of TransLink funds, aimed at prioritizing safety for cyclists on busy roads.
Holland Park
This massive 10-hectare (25 acre) green space is referred to by some as the “Central Park” of Surrey and was redeveloped in the mid-2000s to offer large sports fields, basketball courts, gardens, a recently refreshed playground, and plenty of picnicking areas. Large scale events are often held here, including celebrations for the 2010 Winter Olympic Games.
A number of amenities are planned for the future such as a water park, tennis and volleyball courts and a permanent outdoor staging area.
