Bosa Properties Planning 5-Tower Bristol Project In Surrey @ 13301 104 Avenue in Surrey

Bosa Properties is expanding its footprint in Surrey City Centre with a new multi-phased project: Bristol. This addition to Bosa’s portfolio follows two other developments in the area, showcasing the developer’s ongoing commitment to transforming Surrey’s urban landscape.

Location and Acquisition

Bristol is set on a 6.4-acre site at 13301-13355 104 Avenue and 13280-13362 105 Avenue, close to Bosa’s other projects, the University District and Parkway. Bosa acquired the Bristol Estates, a group of low-rise rental buildings, in July 2022 for $170 million. The site, now consolidated into a single parcel, is valued at over $158 million.

Project Overview and Phasing

The Bristol project initially proposed six buildings with around 2,200 units but has been revised to five towers, delivering a total of 2,686 units, including 491 rental units, along with commercial space. The development will be built in five phases and includes a new north-south road through the property.

Bosa plans to replace the 156 rental units currently on the site within the second phase of their nearby Parkway project. This strategy aims to provide replacement units nearly a year earlier than initially planned, addressing the city’s requirements for affordable housing.

Tower Details and Sequence

Tower Heights and Units:
Tower 1 – 44-storeys (521 units)
Tower 2 – 46-storeys (582 units)
Tower 3 – 43-storeys (491 rental units)
Tower 4 – 53-storeys (597 units)
Tower 5 – 42-storeys (495 units)

First Tower (Phase 2, Southwest Corner): A 44-storey building providing 521 strata units, including studio, one-, two-, and three-bedroom units, seven townhouses, and 5,490 sq. ft of commercial space.
Second Tower (Phase 1, Southeast Corner): A 43-storey building with 491 rental units, offering a mix of studio, one-, two-, and three-bedroom units, townhouses, and 5,397 sq. ft of commercial space.
Subsequent Towers: The following phases include a 46-storey tower with 582 strata units, a 53-storey tower with 597 strata units, and a 42-storey tower with 495 strata units and a childcare facility.

Amenities and Parking

Across the Bristol project, there will be a total of 3,222 bicycle parking spaces and 2,275 residential vehicle parking spaces, exceeding the city’s requirements. The commercial and childcare components will also have dedicated parking spaces.

Bosa Properties will meet or exceed the required indoor and outdoor amenity spaces in most towers, with any shortfall compensated through cash-in-lieu payments. The overall outdoor amenity space exceeds city requirements, enhancing the project’s appeal.

Affordable Housing and Community Contributions

Under city policy, Bosa is required to offer replacement rental units at rates 10% below CMHC averages for current tenants. However, the remaining units will be rented at market rates. Bosa acknowledges that achieving affordable rates in the long term may be challenging due to construction costs, but aims to transition to more positive economic returns over time.

The four strata towers will be subject to the city’s Tier 1 and Tier 2 community amenity contributions (CACs), while the rental tower will be exempt, aligning with the city’s policy on affordable housing.

Conclusion

Bosa Properties’ Bristol project represents a significant investment in Surrey City Centre’s growth, offering a mix of residential units, commercial spaces, and amenities. The thoughtful phasing and replacement of rental units demonstrate Bosa’s commitment to meeting Surrey’s housing needs and enhancing the urban environment.