Northwest Development is selling a major two-tower project in Surrey, originally planned for 1,019 units at 10662 King George Boulevard and 10677 Whalley Boulevard. This 2.35-acre site between Gateway Station and Surrey Central Station was previously used for temporary housing and is currently assessed at $66.7 million.
The project, designed by MCMP Architects, included a 50-storey West Tower with 548 units, a 42-storey East Tower with 471 units, and some ground-floor retail and townhouse units. Despite gaining conditional approval from the City of Surrey in December 2020, Northwest Development has decided to move on from the project, which is now listed for sale by Colliers with no asking price posted.
Colliers highlights the area’s growing housing demand, fueled by increased immigration and a 22% population rise since 2018. The new developer must meet outstanding conditions for final approval, pay community amenity contributions, and adhere to affordable housing and public art policies. This sale is part of a broader trend in Metro Vancouver, where developers increasingly opt to sell off large projects.
