The various municipalities throughout Fraser Valley have undergone significant changes stemming from the proposed Light Rail Transit running through Surrey and Langley.
Abbotsford’s most recent Official Community Plan amendment has been approved, and multiple civic facilities throughout the Fraser Valley have received funding, spurring an uptick in residential development. As the price of real estate rises, we’re seeing a steady increase in construction costs, as well as various municipal fees. Furthermore, as development and construction best practices become more complex, real estate owners may find themselves with property ripe for development, but without the know-how or financial capacity to see the development through from start to finish. This Spring 2017 issue of the Fraser Valley Market Overview discusses how structuring a joint venture partnership between owners and developers can be a lucrative deal for all parties involved.
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