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Latest Stories

3rd Feb 2025

Toigo Family Buys Willowbrook Park Shopping Centre for $137M

Shato Holdings Ltd., owned by the Toigo family, has acquired Langley's Willowbrook Park shopping centre for $137M ($707 per sq. ft.). The 20.15-acre property features 193,785 sq. ft. of retail space, anchored by Safeway and fully leased to tenants like Scotiabank, RBC, and BMO. The projected Net Operating Income for 2025 is over $5.5M.

Read the full story by Storeys.

2nd Feb 2025

Langley City Eyes 6.7% Property Tax Hike in New Budget

Langley City council has preliminarily approved a financial plan raising property taxes by 6.7% on average, less than last year's 9.97% hike. Home valuations affect the increase, with single-family homes seeing the largest impact. Strata properties would see the smallest hike at 5.94%. Public input sessions are scheduled for February.

Read the full story by Langley Advance Times.

2nd Feb 2025

Langley Township May Reduce Parking Minimums Along 200 St.

Langley Township is considering reducing parking space requirements for new condos and apartments near the future Bus Rapid Transit route on 200 Street. A Metro Vancouver report highlights that parking was oversupplied by up to 47% in strata buildings and 35% in rental apartment buildings, prompting the reassessment.

Read the full story by Langley Advance Times.

28th Nov 2024

Langley’s Housing Starts Are Down 27% Compared to 2023

Langley’s housing starts dropped to 1,985 from January to October 2024, down from 2,724 during the same period in 2023. Last year’s record-high 3,146 starts marked a peak. While 2024 figures may exceed 2,000 starts, challenges like high interest rates and slower pre-sales continue to affect the market.

Read the full story by Langley Advance Times.

28th Oct 2024

Langley Township Postpones New Housing Legislation Bylaws

Langley Township has postponed transit-oriented development and SSMUH reforms as it awaits provincial election results to determine governing leadership. The mayor cited concerns over the impact of broad provincial policies on local plans, while council members noted uncertainty around enforcement.

Read the full story by Langley Advance Times.

28th Oct 2024

Langley Township Advances 3 Major Developments

Langley Township advanced several housing developments in Willoughby and other areas, including permit approval for Zenterra’s 620-unit project and first and second readings for a 52-home development by Qualico. Another 315-unit townhouse project by Isle of Mann Property Group was deferred for a public hearing.

Read the full story by Langley Advance Times.

RC
RCSubscriber since May 2024
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As a legal practitioner with a busy practice, Real Estate Recap provides me with an insightful and quick update on the current real estate happenings in Canada. Not only is the information helpful for my personal use, it goes a long way in dealing with relevant legal issues for clients.
EM
EMSubscriber since December 2024
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Real Estate Recap is a fantastic resource! It’s packed with useful information about market trends and provides educating insights that help readers understand the real estate market better. The practical tips and clear explanations make it a must-read for anyone looking to stay informed and learn more about the real esate market!
SD
SDSubscriber since June 2024
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Staying on top of real estate news can be hard, but thanks to RealEstateRecap, I don’t miss a beat. Their updates are informative, and make it easy to stay in the know. Great Newsletter, Thank you
SG
SGSubscriber since June 2024
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Very informative newsletter! It is now my go to source for all real estate news.
SB
SBSubscriber since December 2024
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Great newsletter! Very insightful and it provides all the key points without being a long, tedious read. Very well done!

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