The City of Surrey is set to transfer a parcel of land, measuring just under an acre, to BC Hydro for a substantial sum of $6.5 million. The property, located at 13823 Fraser Highway in Whalley, has been deemed surplus by the city and is slated for future utility development as outlined in the City Centre Plan.
Key Takeaways
- Surrey is selling approximately one acre of land to BC Hydro.
- The sale price is $6.5 million.
- The land is located at 13823 Fraser Highway in Whalley.
- The property is designated for future utility development.
Strategic Land Transfer
The 33,960 square foot property represents a significant transaction for the city, facilitating BC Hydro's infrastructure expansion plans. City hall officially announced its intention to sell the land on February 26th. This move aligns with the City Centre Plan, which identifies the need for utility infrastructure in the area.
Future Utility Development
The land's designation for future utilities development underscores its strategic importance. By selling this surplus land, Surrey is enabling BC Hydro to proceed with necessary projects that will support the growing needs of the community. The transaction is expected to be finalized shortly, pending standard closing procedures.
