Approved for 62 townhouses, Surrey’s Grandview Heights site is on the market for $15.2M, offering developers prime opportunity in a thriving community.
Prime South Surrey Site Hits the Market
A coveted South Surrey property, already greenlit for a townhouse development, is now available through a court-ordered sale, offering a rare opportunity for developers looking to invest in one of the region’s hottest neighbourhoods.
The 3.3-acre site, located at 16620, 16648, and 16674 20th Avenue in the heart of Grandview Heights, is listed for $15.2 million. What makes this property especially appealing is that it comes with third reading approval for a 62-unit townhouse project, streamlining the path for prospective buyers to get construction underway without the usual red tape.
Grandview Heights: A Market on the Rise
The real estate listing highlights the appeal of the area: “Grandview Heights is already established as a high-performing townhouse market, with strong absorption and active rezoning activity underscoring ongoing demand.”
Indeed, South Surrey’s Grandview Heights neighbourhood has seen rapid growth over the past few years. Surrounded by successful developments and desirable amenities, the area has attracted both homeowners and investors seeking steady returns. Its reputation for strong real estate performance has positioned it as a prime spot for multi-unit residential projects, making this court-ordered sale particularly noteworthy.
A History of Council Approvals and Community Debate
The journey to approval hasn’t been entirely smooth. In May 2023, Surrey council granted preliminary approval for the rezoning of this site, which involved amending the Sunnyside Heights Neighbourhood Concept Plan.
At the time, several local residents voiced concerns about the proposed development. Opposition focused on issues such as increased density, the potential loss of trees, and a lack of affordable housing options. These concerns were raised during the public hearing, reflecting a common tension in rapidly growing communities balancing development with preservation.
Originally, the 62-unit project on 20th Avenue was considered alongside a neighbouring 104-unit townhouse development on 19th Avenue. Both were reviewed under a single council report, which required that the projects be delivered simultaneously. While the combined approach made sense administratively, it created challenges for the developers, who had to navigate the logistics of completing all 166 units together.
Breaking Up the Project for Flexibility
To resolve these challenges, city officials proposed splitting the two applications into separate rezoning bylaws. This approach allowed each project to proceed independently, giving developers more flexibility and mitigating the risk associated with managing multiple large-scale projects simultaneously.
Following this adjustment, a second public hearing was held later in 2023 to finalize approvals under the new, separate bylaws. This step cleared the way for the 62-unit 20th Avenue development to move forward without being tied to the adjacent 104-unit project.
What This Means for Developers
For real estate investors, this court-ordered sale represents a unique entry point into a thriving part of Surrey. Properties that come with existing approvals for townhouse developments are rare, as the rezoning process can often be lengthy and uncertain.
The listing emphasizes that the area is surrounded by successful developments, signaling strong market confidence. Developers can anticipate steady demand, with Grandview Heights’ strong absorption rates indicating that units are likely to sell quickly once construction is complete.
The Neighbouring 104-Unit Project
While the 62-unit site is now up for sale, the 104-unit project on 19th Avenue, developed by the Alvair Group, is already in pre-construction with units available for purchase. The separation of the two projects has enabled each to progress independently, which could serve as a benchmark for the potential success of the 20th Avenue development.
By comparing the two projects, prospective buyers can gauge market appetite and pricing strategies for townhouses in this desirable neighbourhood. With Grandview Heights continuing to grow and attract investment, the timing could not be better for developers seeking to capitalize on this momentum.
Looking Ahead
As Surrey continues to expand, Grandview Heights is poised to remain a key hotspot for residential growth. The combination of council approvals, strong market demand, and a supportive community framework makes this court-ordered sale a compelling opportunity for developers seeking to enter or expand in South Surrey’s real estate market.
For those ready to take on a project with approved townhouses, the 20th Avenue site offers both convenience and potential. With its established market, strategic location, and development-ready status, this property represents a rare chance to turn plans into reality in one of Surrey’s fastest-growing neighbourhoods.
