A 1.18-acre multi-family development site in Surrey City Centre, including a partially constructed 167-unit residential project known as Centra, has been listed for sale through a court-ordered process.

Goodman Commercial is marketing the property at 13862 101 Avenue in Surrey on behalf of court-appointed receiver Alvarez & Marsal. The approved project includes a 24-storey concrete tower and a two-storey townhouse and amenity building with 167 residential units and 194 underground parking stalls.

Construction has progressed to the sixth storey above grade, with more than $23 million already spent on hard construction costs, according to marketing materials released by Goodman Commercial. The development also includes fully paid entitlements and completed design drawings.

Originally intended as a condominium development, the project was previously pre-sold before construction delays led to all purchase contracts being rescinded, creating what Goodman described as a “clean slate” for a new owner to relaunch a sales program or reposition the development as a rental project.

The planned development totals 121,956 square feet of net saleable or rentable area, with an average unit size of 730 square feet. Proposed interior finishes include wide-plank laminate and tile flooring, quartz countertops, integrated stainless-steel appliances with gas ranges and central air conditioning.

The property is located near Surrey’s King George SkyTrain Station, Central City Shopping Centre, SFU Surrey Campus and Surrey Memorial Hospital, in one of Metro Vancouver’s fastest-growing urban centres.

Pictured: Partially built Centra project.

Photo: Courtesy of Goodman Commercial