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Peerage Partners, Real Estate News | October 10, 2022

Aldergrove Town Centre Construction Begins

Construction has begun on Aldergrove Town Centre at 272nd Street and Fraser Highway. This mixed-use, master-planned development replaces the decades-old Aldergrove Mall. It will feature three six-storey buildings with residential condos and ground-level commercial space. Additionally, there will be a 10-storey tower with four levels of public parking and six levels of residential housing, along with a stand-alone two-level daycare.

The groundbreaking ceremony was a Halloween-themed celebration and featured five local businesses, a food truck, and a presentation center showcasing 3D models of the project’s first phase. (Tanmay Ahluwalia/Langley Advance Times)

Groundbreaking Ceremony

On Saturday, Oct. 8, the property owner, Janda Group, held a groundbreaking ceremony attended by key stakeholders and the public. The Halloween-themed celebration included five local businesses, a food truck, and a presentation centre showcasing 3D models of the project’s first phase.

Sonny Janda, Scott Brown, Justin Bontkes, and Ahmed Alghonemy at the groundbreaking ceremony. (Tanmay Ahluwalia/Langley Advance Times)

Key Speeches and Stakeholders

Scott Brown, the CEO of Fifth Avenue Real Estate Marketing, started the ceremony with an introductory speech. His company began collaborating with Janda Group in 2014, and it took them about eight years to reach this stage. Brown emphasized the need to wait for sufficient demand for a project like Aldergrove Town Centre.

Community members at the presentation center, where the developer showcased 3D models of the project’s first phase. (Tanmay Ahluwalia/Langley Advance Times)

Challenges and Market Demand

Brown highlighted the risks involved in such a venture. He mentioned, “If we don’t have enough consumer demand from people who want to live here, then business would not be successful.” He stressed that timing is crucial for the project’s success.

This post was originally published on the Aldergrove Star

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