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Surrey approves education campus and student housing tower (RENDERINGS)


Over the last five years, since the project was first announced as a partnership between Sprott Shaw College owner CIBT Education Group and local developer WestStone Group, the tower’s design and uses have seen some changes that reflect fluctuating market conditions.
Site of GEC Education Mega Centre at 10240 City Parkway, Surrey. (Chris Dikeakos Architects/CIBT Education Group)
Artistic rendering of GEC Education Mega Centre at 10240 City Parkway, Surrey. (Chris Dikeakos Architects/CIBT Education Group)
The project’s construction cost is estimated at $270 million, and the property for development was acquired in August 2019 for about $23 million.
“With new developments in recent months indicating a burgeoning real estate market in Metro Vancouver, we are pleased to receive the approval for our rezoning application for GEC Education Mega Center,”said Toby Chu, chairman, president, and CEO of CIBT, in a statement. ....

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City of Surrey to borrow $151 million to construct new recreational centres


Artistic rendering of the City of Surrey s new Cloverdale Sport and Ice Complex. (RDHA)
During a public meeting on Monday, Surrey City Council approved the measure of permitting city staff to proceed with the process of obtaining a loan of $150.6 million to fund three new major community and recreational facilities.
The long-term borrowing scheme will fully cover the construction costs of the new replacement $90-million Newton Community Centre, including the land acquisition, as well as the full costs of the $40-million City Centre Sports Complex.
Another $20.6 million will be borrowed to help cover the $50.1-million Cloverdale Sport and Ice Complex, with the remaining $29.5 million funded through pay-as-you-go city financing. ....

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Downtown Surrey picks up pace with 28,000 new homes underway or proposed


The 1,341 acres of Whalley that is defined as Surrey City Centre will be transformed by these projects, which are set to create over 60 new towers with a height of at least 25 storeys. Many of these towers are far higher than the benchmark used for analysis, including several towers 50 storeys or greater.
Surrey City Centre’s major development activities as of December 2020: approved (green/left); under construction (red/centre); and proposed (grey/right). (Downtown Surrey Business Improvement Association)
Approved developments
To date, the City of Surrey has approved 12,681 homes, 1.95 million sq. ft. of office space, and 135,134 sq. ft. of retail space. ....

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