Bosa Properties Prepares for Phase 2 of its Parkway Master-Planned Community in Surrey City Centre

Bosa Properties Prepares for Phase 2 of its Parkway Master-Planned Community in Surrey City Centre

"Intersect": Introducing Phase 2 of Parkway with a 52-Storey Mixed-Use Tower and a Two-Storey Stand-Alone Commercial Building

Bosa Properties have began early previews of phase 2 of its Parkway community located in the heart of Surrey City Centre, directly north of City Hall.

The multi-phase, mixed use development proposal “Parkway” (formerly “Brightside”) includes two high-rise, mixed-use towers and two high-rise residential towers (37, 46, 51 and 52-storeys) in addition to two low-rise buildings at an overall gross density of 7.9 FAR.

"The four high-rise buildings are located on the periphery of the subject site, organized around the two low-rise buildings and a central mews that includes an amenity building, a commercial retail building intended for a large restaurant, and opportunities for outside seating and gathering spaces. While much of this privately-owned space will provide outdoor amenity space for residents in clearly defined spaces, much of it is designed to be welcoming and accessible to the general public as a vibrant commercial mews."

Sales for Building 1, Aspect, began in early 2022, and it has purportedly sold all 318 market condos since then. The 51-storey building also incorporates 199 market rental homes situated in the initial 18 storeys. The residences in Aspect were sold with an average price per square foot (PSF) of $1,115.

Phase 2 Overview

Phase 2 encompasses Bosa's upcoming mixed-use tower, "Intersect," a 52-storey structure consisting of 221 purpose-built rental units and 396 market condos.

Unit Mix

  • Studio - 152 (24%)
  • 1 Bed - 209 (34%)
  • 1 Bed + Den - 40 (6%)
  • 2 Bed - 193 (31%)
  • 3 Bed - 17 (3%)
  • 3 + Den - 6 (1%)
  • Total - 617 

Phase 2 includes the planned construction of a standalone 2-storey building. It features a central mews featuring an amenity building, and a commercial retail building designed for a spacious restaurant. The area provides opportunities for outdoor seating and gathering spaces.

The restaurant area facing 104th Avenue will serve as the focal point for this development, offering both residents and the general public the chance to make use of these new commercial spaces in the downtown core.

"The landscape concept has been designed to respond to the urban core of City Centre as an active, pedestrian-friendly space, oriented to people living, working, and recreating in the City Centre. The overall design considers site circulation and incorporates an inclusive interface between the public and private realm."

Phase 2 Rental Component

Originally conceived as a mixed-use building combining office space with residential areas, the design underwent a reprogramming by Bosa. The revision involved eliminating the office component and substituting it with rental units.

According to Surrey's Rental Replacement Strategy, 156 of the 221 rental units are designated as replacement units needed to substitute the current units at Bosa's next large Surrey City Centre master-planned community, situated a few blocks to the west at Bristol Estates.

The 6.27 acre property is a complex of 156 rental units that were built in 1968. Early plans indicate the site will feature 5 towers ranging from 38 to 48-storeys. 

It was reported that Bosa Properties purchased this property in 2022 for $170 million.

For more information on Parkway: Intersect at Parkway

Feel free to reach out to me directly to find out more about this upcoming development.

Work With Manraj

Whether you're new to the housing market, an investor, or a homeowner planning to switch properties, trust in Manraj's relational and data-based approach to provide you with the right knowledge for your next move.