Polygon Homes is set to bring three new developments comprising 742 condos to South Surrey's Semiahmoo neighbourhood. All three projects are located in the Semiahmoo Town Centre Plan, between 16th and 24th Avenue along the 152nd corridor.
Polygon has been busy over the past few years acquiring land in the Semiahmoo Town Centre Plan, which began its official review in 2018 and was fully adopted in January 2022. According to the city, "the Plan envisions a compact, sustainable, transit-supportive urban centre that forms the cultural and commercial heart of South Surrey. The TCP will guide growth and redevelopment for the next 30 years."
At the center of this plan is 152nd Street, which offers rapid transit options for the community. This corridor, connecting South Surrey to White Rock, is bustling with retail and everyday amenities, creating a village-like feel for the neighborhood.
Polygon's three developments are situated on the east side of 152nd Street, along three major east-west connectors: 24th, 20th, and 16th Avenue.
The Semiahmoo Town Centre Plan aims to urbanize this area of South Surrey over the next 30 years, significantly increasing the population, housing supply, and job opportunities:
Polygon Homes' three new projects are currently at various stages of development approval:
- 24th Avenue (Halo): Scheduled to launch in Summer/Fall 2024, this project includes two six-storey low-rises comprising 204 condos.
- 20th Avenue (Marquette): This project received third reading on June 10, 2024, and will follow the 'Halo' project. It consists of two six-storey low-rises comprising 356 condos.
- 16th Avenue (Calais): The initial land use report for this project was presented to council on June 10, 2024. It features a 20-storey tower with a 6-storey podium, offering 181 condos and ground floor retail.
24th Avenue - Halo (Coming Soon)
Take a look at my earlier article about the Halo offering: https://mdre.ca/blog/polygon-to-bring-204-units-of-much-needed-condo-supply-to-south-surrey
The 10-lot, 1.89-acre single-family assembly will be turned into 204 much-needed condos located at the most-northern part of the recently approved Semiahmoo Town Centre Plan.
Unit Mix
- Studios: 1 (0.5%)
- 1-Bedroom: 63 (31%)
- 2-Bedroom: 117 (57%)
- 3-Bedroom: 20 (10%)
- Townhouse: 3 (1.5%)
The average unit size is approximately 842 SF, significantly larger floorplans than those found closer to the urban core (Surrey City Centre).
Fronting the arterial 24th Avenue, the north building will also feature a 12,064 SF of commercial retail space.
Sales are anticipated to commence this Summer/Fall 2024 - reach out to me for more information.
20th Avenue - Marquette (3rd reading June 2024)
The 3.72 acre site is situated on the northeast corner of 152nd street and 20th Avenue and will feature two six-storey buildings comprised of 356 condos. The building will also feature 8,500 square feet ground-floor retail space.
Unit Mix
- 1-Bedroom: 157 (44%)
- 2-Bedroom: 171 (55%)
- 3-Bedroom: 38 (11%)
"The western mixed-use building contains ground floor commercial retail units (CRUs) along 152 Street and a portion of 20 Avenue. The residential unit mix consists of 82 one-bedroom units, 60 two-bedroom units, and 21 three-bedroom units, for a total of 163 units. The provision of 56% of units that are 2- or 3-bedrooms fulfills the unit mix requirements of the Semiahmoo TCP."
"The unit mix in the eastern residential building consists of75 one-bedroom units, 101 two bedroom units, and 17 three-bedroom units, for a total of 193 units. The provision of 61% of units that are 2- or 3-bedrooms fulfills the unit mix requirements of the Semiahmoo TCP."
"Both buildings have a strong interaction with the public realm, by having the ground floor commercial flush with grade, ample glazing facing the street and continuous weather protection canopies for pedestrians along the commercial frontages. Furthermore, ground oriented residential units interact with all the street frontages with raised patios comprised of rich landscaping."
See link for full application: https://www.surrey.ca/sites/default/files/planning-reports/PLR_7923-0079-00.pdf
16th Avenue - 'Calais' (Initial review as of June 2024)
The 1.40-acre site is situated on the north side of 16th Avenue, just east of 152nd Street and immediately west of the Amica White Rock senior living facility. The development includes a 20-storey tower and a 6-storey podium, offering 181 condos and 4,081 square feet of commercial retail space on the ground floor.
Unit Mix
- Studio: 6 (3%)
- 1-Bedroom: 15 (8%)
- 2-Bedroom: 143 (79%)
- 3-Bedroom: 17 (9%)
Adhering to Polygon's standards for tower construction, the unit mix is designed to attract end-users, with nearly 90 percent of the building consisting of 2- and 3-bedroom suites. The average unit size is 915 square feet.
"The outdoor amenity space is located in two areas: on the ground floor and also on the seventh floor on the roof above the podium. The ground floor amenity space is located within the courtyard area and is adjacent to the indoor amenity space. The ground floor amenity space contains landscaping, outdoor seating, a fire pit, and a turf play area. The seventh floor outdoor amenity space contains landscaping, outdoor seating, community garden planters and a potting table, a fire pit and a lawn area."
The application is currently under initial review, with third reading anticipated for this summer.
See link for full application: https://www.surrey.ca/sites/default/files/planning-reports/PLR_7923-0239-00_0.pdf
This is welcomed news for South Surrey as it continues to deal with some of the lowest availability of newer (<10 years old) condo supply in the region.
According to my latest New(er) Resale Report, produced in partnership with REW, South Surrey severely lacks much-needed condo supply. As of the end of May 2024, there were just two one-bedroom condos (<10 years old) available for purchase. Furthermore, the newer two-bedroom condo market is currently a strong seller's market, with a sales-to-active listings ratio of 32%.
See link for full REW report: https://www.rew.ca/guide/articles/new-er-home-resale-report-may-2024
As an investor or an end-user, Polygon's newest developments have the fundamentals in place to make them a wise purchasing decision. If you would like to learn more about the above-mentioned projects or how to secure your opportunity in any of these buildings, feel free to connect with me directly.
