Is it about time for the infamous Byrd strip mall to make the first and most influential change in the Whalley Area. YES, OF COURSE IT IS!
A non-profit and local developer have teamed up and are about to make changes in the area that they hope will be long lasting in changing the area’s reputation. Re-development is to take place in and around 6 years form now for the Byrd and Flamingo properties. This will give the group enough time to make significant changes to the culture of Whalley. Of course if this takes place the land value and condo prices could see a spike in prices.
“[Sethi] came to the entertainment group after he saw one of the events that we put on in South Surrey and said that he really liked the way we built community around music and events,” Geertz said. “And so he asked us to put forward a proposal if we were given the Flamingo for a period of time before development started.”
Almost four acres that accompany the Flamingo Hotel and the Byrd were bought by Surrey developer Charan Sethi founder of the Tien Sher Group of Companies. Adjacent land is also in the mix to make up approximately 12 acres in North Surrey. Sethi is looking to build three residential towers and is hoping their impact will give the area the culture and feel that might attract liveable spaces for students for the SFU campus Surrey.
The groups goals is to create a Yaletown for Surrey. Yes once upon a time Yaletown was a seedy place for illegal activities of the likes of Whalley now. Yaletown was also a commercial area that was revitalized into the trendy downtown Vancouver shopping and night spots now.
According to the Fraser Valley Real Estate Board, townhome sales in North Surrey are up 109.1% year-over-year as of December 2017 and apartments are up 93.2% over the same period. The benchmark price for North Surrey townhomes is up 28.8%; apartments prices are up 44.6% and detached homes have risen 15.1% year-over-year.
This really could be the movement that makes Whalley the best place to invest in the Lowermainland say’s say’s Becky Zhou long time Realtor in Whalley Surrey