Surrey buys 0.77-acre site near future Fleetwood SkyTrain for $5.2M, opening doors for an eight-storey residential project.
Surrey Snags Key Property for Transit-Linked Development
In a strategic move, the City of Surrey purchased a 0.77-acre parcel at 8286 161 Street for $5.2 million on February 18. This deal translates to roughly $6.75 million per acre, underscoring the high value of land near upcoming transit hubs.
Perfect Timing Near Fleetwood SkyTrain
Located just 400 metres from the planned Fleetwood SkyTrain station, the site is perfectly positioned for a transit-oriented project. Surrey’s acquisition signals an intent to capitalize on the growing demand for housing in well-connected neighbourhoods.
Potential for Multi-Family Growth
Currently zoned PA-2 (Assembly Hall 2), the property could be rezoned for multi-family use. Plans indicate it could support a building of at least eight storeys with a minimum floor area ratio (FAR) of 3.0, paving the way for a vibrant residential community.
Strategic Vision for Surrey’s Urban Future
This purchase highlights Surrey’s proactive approach to urban development, blending accessibility with density. As the city continues to expand around transit corridors, residents can expect more walkable, connected neighbourhoods with easy access to public transit.
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