University District set to grow in Surrey City Centre
The city of Surrey is developing an image as a place for young professionals to study, live and work, and nowhere is that more apparent than in the rapidly developing Surrey City Centre, the neighbourhood anchored by a new city hall, library and recreation centre, as well as SFU’s campus and a Kwantlen Polytechnic University satellite.
Bosa Properties saw its faith in Surrey affirmed when, in 2015, the city was named as one of the world’s “seven most intelligent communities”, a reference by a New York-based think tank to the city’s knowledge-based future. It has been forecast that the city will add 40,000 jobs by 2025.
The developer’s gamble paid off when it rapidly sold off the Alumni Tower, the first phase of its University District project, two years ago. Despite the slowing pace of B.C.’s real estate industry, sales of the second 28-storey North Tower being built on an adjacent property by Bosa family company, BlueSky Properties, were brisk this fall. More than 80 per cent of 320 homes sold before BlueSky paused the campaign to begin preparations for sales in the 38-storey University District South Tower on the same land parcel.