Land Value Capture

For the past couple of years, purchasing a home has felt like a bet very few have wanted to make. From shifting market dynamics to panic-inducing headlines, there's a slew of reasons the sidelines have been the preferred seating for would-be buyers.

Then, The Rail District by Infinity Properties in Abbotsford opened the doors to its first condo building. At The Mason, which completed this spring, 10 condos sold in a single 30-day stretch. And in the months since May, they've just kept on selling.

The Surrey City Development Corporation (SCDC) and Simon Fraser University (SFU) have submitted their development permit application for Phase One of Centre Block, which will be home to SFU’s new Stephens Family School of Medicine.

Centre Block is a mixed-use commercial project set for 10270 University Drive, a 3.5-acre site directly adjacent to the Expo Line SkyTrain’s Surrey Central Station, immediately south of Surrey City Hall and Surrey Civic Plaza.

The Mondria 1 condo project in Clarington, Ontario was placed under receivership over the summer, according to filings in Ontario Superior Court, and the series of events that resulted in the receivership is more unique than most.

The project is located at 1607 King Street East and was being developed by Toronto-based Monde Development Group, which was developing a six-storey condo building with 89 units. The property, which was formerly occupied by the Pine Ridge Motel, is beneficially owned by Monde through Monde Development Group Inc.