There's been a lot of talk about the level of growth in Surrey. (Didn't you see it in TMZ?) We asked Downtown Surrey Business Improvement Association's Elizabeth Model what we can expect next.
Elizabeth tells us the latest announcement is a hotel partnership for 3 Civic Plaza, Surrey's first mixed-use hotel and residential project with Autograph Collection, part of the Marriott International global portfolio. Downtown commercial real estate accounts for a significant amount of the overall development, she tells us. The hotel announcemenet is a big step. ""We needed a first-rate hotel," she says. "The way they have configured it around retail and office is the way they are developing in Vancouver now--all mixed-use."
With a population of 500,000, Surrey is BC's fastest-growing city, expected to overtake Vancouver in 10 to 15 years. (Begin practicing humility now, so you'll be ready by then.) Having the second-lowest business tax level in Metro Vancouver is certainly an incentive. So expect more announcements on the commercial real estate front. The new luxury hotel will feature 144 rooms, a lobby-based cafe, fine dining, fitness and pool facilities, and convention space. Including its premium residences and professional offices, 3 Civic Plaza and Civic Hotel is the largest private project in Surrey.
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