CHECK-INHigh prices kept land deals in check in 2023
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Joe Varing's thoughts on the market situation last year were featured in Western Investor's latest article!
One area that’s seeing activity is the Fraser Highway corridor between Surrey and Langley along the route of the planned SkyTrain extension.
Joe Varing of Varing Marketing Group in Abbotsford has sold several properties in the area, among them 18375 Fraser Highway, which the province acquired on March 27 for the SkyTrain project and an affordable multifamily housing development.
“The Fraser Highway corridor has demonstrated some notable resilience and activity,” Varing said. “We've observed several key developments that highlight its activity. For example, multiple new mixed-use real estate projects have been initiated in the last quarter alone.”
The SkyTrain line as well as changes to land use plans in the Tynehead, Smith, and Brookswood areas have fuelled the activity.
“While the broader market remains flat, the Fraser Highway corridor is poised for continued growth,” he said. “With several high-profile projects slated for completion in the next year, we anticipate this trend to continue and possibly even accelerate."
For clarification on any of the above topics or to discuss them more in detail, please reach out to us at info@varinggroup.com or by phone at 604.565.3478