Maroc - STOREYS.COM - A La Une - 04/Jul 14:06

First Capital To Redevelop Semiahmoo Shopping Centre In South Surrey

In the latest example of the growing trend of mall redevelopments across Canada, the City of Surrey has received a development proposal pertaining to the Semiahmoo Shopping Centre in South Surrey.The Semiahmoo Shopping Centre is located at 1701 152 Street, near the intersection with 16th Avenue (North Bluff Road) and immediately north of White Rock.The mall is comprised of three legal parcels: 1711 152 Street, 1797 152 Street, and 15150 18 Avenue, which BC Assessment values at $114,115,000, $8,693,000, and $12,705,600, respectively, for a total value of $135,513,600. The development proposal is being made by First Capital Realty, which operates the retail-focused First Capital Real Estate Investment Trust (REIT) and owns the three parcels under First Capital (Semiahmoo) Corporation, First Capital (Semiahmoo Parcel 2) Corporation, and First Capital (Semiahmoo Parcel 3) Corporation.First Capital's proposal is focused on the latter two parcels, which are currently occupied by a Dollar Tree and Subway, as well as a northern corner of the shopping centre site that's currently occupied by a Chevron gas station. The Semiahmoo Shopping Centre site and subdivision concept.(Formosis Architecture / First Capital Realty)First Capital is seeking to rezone the site from C-8 (Community Commercial) and CD (Comprehensive Development) to CD, which would allow it to redevelop the site into two high-rise towers and one mid-rise tower, with a total of 554 residential units, over 45,000 sq. ft of commercial space, and a gross density of 3.73 FSR.For the site currently occupied by the Chevron gas station, along Martin Drive, First Capital is proposing a 12-storey building with 168 residential units and 8,622 sq. ft of commercial space.On the site currently occupied by Dollar Tree, First Capital is proposing a 20-storey tower with 206 residential units and 24,359 sq. ft of commercial space, as well as a City-owned community art space.On the third site, currently occupied by Subway, First Capital is proposing a 20-storey tower with 180 residential units and 12,099 sq. ft of commercial space.For all three buildings, First Capital is proposing an amount of indoor amenity space that is significantly less than what is required under the City's policies, but are proposing an amount of outdoor amenity space that significantly exceeds what is required.Across the three buildings, a total of 1,001 vehicle parking spaces would be provided, including 763 spaces for residents, 111 for visitors, and 127 for commercial uses. A total of 689 bicycle parking spaces is also expected to be provided. All parking spaces are expected to be provided underground, with the two 20-storey towers expected to share an underground parkade. Ground-level renderings of the three proposed towers.(Formosis Architecture / First Capital Realty) Aerial renderings of the three proposed towers.(Formosis Architecture / First Capital Realty)According to a City of Surrey planning report, First Capital has created a master plan for the entire Semiahmoo Shopping Centre site that "demonstrates the intended long-term development concept for the site" and would see the remaining mall property subdivided into seven parcels that would be redeveloped into more mixed-use buildings, as well as a new public park and a TransLink bus layover facility."The applicant anticipates redevelopment of the mall site to be a longer term proposition, as the applicant intends to operate the existing mall in the near term," the City notes. "Only the three towers currently proposed under this application on the north part of the site are proposed in the near term."The City notes that the master plan concept First Capital has presented corresponds with the City of Surrey's Semiahmoo Town Centre Plan's designation and building height strategy for the site.The McDonald's at 1789 152 Street is owned by McDonald's and not included in the proposal, although the City notes the property could potentially be folded into the redevelopment in the future, since it is surrounded by properties owned by First Capital. The master plan for Semiahmoo Shopping Centre in South Surrey.(Formosis Architecture / First Capital Realty)For this initial phase, the project will be subject to both Tier 1 community amenity contributions (CACs) and Tier 2 CACs, as well as the City's Affordable Housing Contribution policy and public art contribution policy.The City notes that pre-notification letters were sent out in January 2021, March 2022, and September 2023, and that staff have received a significant amount of feedback from residents, a majority of which expressed concern rather than support, focusing on aspects of the proposal such as its proposed heights and potential shadowing effects. However, the proposal was considered by the City of Surrey's Advisory Design Panel on January 11, 2024 and was given their support.During a land use council meeting last Monday, Surrey City Council authorized development permits for the three towers and also endorsed the overall master plan site, without any discussion.