Surrey council considers 430-unit rental project in Whalley, including 30% below-market units, with completion targeted for 2028-29.
Surrey Eyes Major Rental Development in Whalley
Surrey is considering a significant rental housing development on city-owned land at 10975 126A Street in Whalley. The proposal, brought forward by the city manager, is set for council discussion tonight and could reshape the local rental market.
Proposed Design and Construction
The development, submitted by Apcon Group, would feature 430 rental units across two wood-frame buildings situated atop a shared ground-floor concrete podium. The plan includes a mix of studios, one-bedroom, one-bedroom plus den, and two-bedroom units.
Focus on Affordable Housing
The project aims to provide 30 per cent below-market rental units. This includes 36 studio units and 26 one-bedroom units, all priced below market. Additionally, 67 of the 298 one-bedroom plus den units would be below-market, while the remaining units and all two-bedroom units would be market-priced.
Timeline for Completion
According to city manager Rob Constanzo, the buildings could be ready for occupancy in the fourth quarter of 2028 or the first quarter of 2029. The development represents a long-term investment in Surrey’s growing rental sector.
Financial Benefits to the City
Apcon’s proposal suggests that the City of Surrey would receive 10 per cent of the gross annual rental revenue once the project is operational. Initial estimates indicate this could generate approximately $1 million per year starting in 2029.
Next Steps
City council will review the proposal tonight and decide whether to proceed with negotiations with Apcon Group regarding the design, construction, operation, and maintenance of the rental housing development.
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