PCI Development’s King George Hub project has officially sold out both residential towers within Phase B of the project. The 40-storey tower first went to market in October, quickly selling out, followed by the 29-storey tower in November. Phase B will also include a 15-storey office tower, 2-storey stand-alone restaurant, as well as over 100,000 sq.ft. of retail space integrated with a plaza.

According to the King George Hub Sales Team, over 12,000 people registered as interested purchasers for the 738 units. Given this unprecedented demand for a condo project in Surrey City Centre, units were allocated through a lottery system. Of those units sold:

• 697 were purchased by local residents
• 1 in 4 were first-time home buyers
• 65% of buyers currently live within 20km
• 30% of buyers currently live in Vancouver

With the success of King George Hub selling out so quickly, PCI developments has indicated that they are now moving forward with plans for Phase C of the project, which should include 1 additional residential tower to the east of the existing Coast Capital Savings headquarters. A future Phase D is set to follow that with space for up to 3 more towers, however detailed plans for both sites have yet to be finalized or released.

Plan showing King George Hub Phasing – Future phases C & D to the north and east of Phase B

With sales now complete, and final approval in place, it is expected that Phase B of King George Hub will begin construction by Spring 2018. This should be joined by Concord Pacific’s 42-storey Park Boulevard project just north of King George Station around the same time, making for 4 new towers starting construction within the area immediately surrounding King George Station. For more on King George Hub:

http://kinggeorgehub.com

View looking west along 104 Avenue from King George Blvd

Surrey Council gave 1st & 2nd Readings on Monday night to Bosa BlueSky’s next project in Surrey City Centre – Brightside – which will now head to Public Hearing and 3rd Reading (Preliminary Approval) in 2 weeks. The project, which has been under application for the past 2 years, is set to transform the former Brick / Sears Outlet store site at City Parkway & 104 Avenue, which has been sitting vacant for numerous years now. Overall, the application is seeking:

• A General Development Permit (Form & Character) for the entire site to allow for a phased, mixed-used development consisting of 3 high-rise and 2 low-rise buildings, including:
  • 40-Storey residential tower with ground floor retail (Phase 1)
  • 50-Storey mixed-use residential tower with ground floor retail and 17 floors of office in a stepped podium (Future Phase)
  • 50-Storey residential tower with market and rental units (Future Phase)
  • 2.5-Storey market-hall commercial building
  • 2-Storey amenity building
• A Detailed Development Permit for phase 1 of the project.
• OCP Amendment and City Centre Plan amendments to allow for up to 7.5 FAR (9.2 FAR net) density.
• Rezoning
• Consolidation from 2 existing lots to 2 new lots.

View looking north along City Parkway from Surrey Central Station View from public and amenity space within interior of site looking south View looking east along 104 Avenue Future ‘Market-hall’ commercial building in centre of site as part of future phases.

Designed by Perkins & Will, the first phase of the project, a 40-Storey residential tower with ground-floor retail, is to be located at the corner of City Parkway and 104 Avenue and will include:

• 418 Market Residential Units
• 2,831 sq.ft. of ground floor Retail

The remaining buildings, subject to future Detailed Development Permit applications, will be located further east along 104 Avenue and north along 105 Avenue. The tallest of the towers, the 50-Storey mixed-use building with 17-Storey office podium, would become the new tallest in Surrey once complete, assuming no other building surpasses it by then, at 554 ft. (169m). The two future low-rise amenity, and market-hall buildings located in the centre of the site are to be set within a publicly accessible plaza that will invite people into the site from 104 Avenue. The plaza will be activated by retail and restaurant spaces at grade, as well as landscaping, and public art, subject to future detailed design.

In total once all phases are complete, the project will include:

• 1,352 Residential Units (including 200 rental units)
• 202,146 sq.ft. of Office
• 37,049 sq.ft. of Retail

In addition to the buildings on site, the project will also bring into alignment the intersection of City Parkway and 104 Avenue. The north and south portions of City Parkway on either side of 104 Avenue currently do not connect. This alignment is expected to be completed as part of the first phase, with tower 1 to be aligned on an angle with the newly constructed City Parkway.

Phase 1 of the project is expected to be completed by 2025, with the remaining buildings to follow later in the decade. For more on the project:

https://www.surrey.ca/bylawsandcouncillibrary/PLR_7918-0350-00.pdf