Multimillion Dollar Tall Tower Applying to Surrey City Council
A new tall, multi million dollar tower is being proposed for an expansion of Elizabeth Manor on 104, just west of City Hall. It will result in up to 359 units and from 6 to 26 stories. Property has been bought and a proposal will be submitted to the Surrey City Council by end of August in the hope for the council to review and approve before the October city election which would delay start of development to 2019.
The North America property investors Investment Revenue Realty and partner, Western Canadian Properties Group are targeting Surrey City Centre as the top city in BC for investing in development due to the growing population, businesses and urban development in Surrey. They state, “Invest with an experienced development team in a very strong housing and real estate investment market, Surrey City Centre, by participating in a multi-family condominium development. Surrey is #1 on the 2018 REIN list of the top ten BC cities to invest in.”
The assessment of Surrey’s value was confirmed in Surrey604’s November 2017 article, Surrey Tops List of Best Places To Invest In Real Estate In BC. Mayor Linda Hepner endorsed the growth of Surrey. A March 2018 article by Fraseropolis also discusses Surrey’s expansion.