Abbotsford City Centre: Building the Hub of the Fraser Valley
The City of Abbotsford has envisioned a community for the City Centre neighbourhood with an initiative titled ‘Plan 200K’
Plan 200K focuses on nearly twenty other development plans to coordinate residential and commercial development throughout the city. This master-planned community will include strategies to increase transit and transportation routes, parks, recreation, and culture as well as increasing housing options. The City Centre is in collaboration with Abbotsford’s efforts to revitalize the Historic Downtown Abbotsford and the envisioning of the comprehensive U-District neighbourhood plan.
Currently, Central Abbotsford has approximately 15,350 residents living within its boundaries. This number is projected to increase to 27,250 residents over the next 20 years. The CCNP (City Centre Neighbourhood Plan) outlines the plans to enhance the community with designated commercial streets stitching together the city from north to south to provide residents with access to shopping, local retail, and other businesses. Plans for internal commercial streets with high-density housing options, cyclist lanes, thoughtful pedestrian walkways that are well-lit and lined with trees, as well as the additions of new neighbourhood plazas, and new connecting roads to ensure pedestrians have more accessibility than ever.
The City Centre neighbourhood plan outlines a significant investment into the area with a focus on South Fraser Way as the area’s major transit corridor, with the goal of increasing commercial and residential density to increase housing options. The details in the plan take aim at creating a truly efficient city, with a community designed around removing traffic congestion from the major arterial roads and increasing transit lanes and cyclist routes to ensure the pedestrian experience is elevated and convenient.
Over the last 3 months, resale home sales are down 50 percent compared to the same time last year. The average sale price for a 1 bedroom and a 2-bedroom condominium in Abbotsford is $287,450 and $393,219 respectively. Townhomes in the area have also seen a significant increase in price with an average selling price of $483,340 for a 2-bedroom home or $516,959 for a 3-bedroom home. The local Abbotsford market is lacking new home opportunities for home buyers with only two actively selling pre-sale developments in Abbotsford; both of which are condominiums.
The City Centre will be the height of contemporary architectural expression in Abbotsford, with beautiful landmark buildings punctuating the neighbourhood in key locations. A diverse skyline emerges from a densely-treed neighbourhood where residences will be enjoying shaded and calming parks or plazas to retreat from the bustling neighbourhood.
New housing options in Abbotsford have been low in recent years with a limited supply of developing into sold out pre-sale options. The City plans for an increase in housing options, and the current population of 6,822 is projected to increase by 52% over the next 25 years. One of the forerunners of this shift is Ventura. A collection of contemporary condominiums located steps away from the conveniences of City Centre, the next hub of the Fraser Valley. You can be the first to preview this new community by visiting VenturaAbbotsford.com and register to receive updates on the newest offering of 1 to 3 Bedroom Condos – Coming Soon.