Surrey Health and Technology District expands with largest construction

ICT Group and the Lark Group Health and Technology District in Surrey City Center expanded on November 14 as they opened the City Center 4 building, its largest phase to date

ICT Group and the Lark Group Health and Technology District in Surrey City Center expanded on November 14 as they opened the City Center 4 building, the largest phase to date.

The building is one of eight developments that, when completed, will be the largest health and technology center of its kind in Canada.

City Center 4 will feature 23 floors and over 350,000 square feet of office space available for strata purchase or rental. Additionally, the building has five stories or 75,000 square feet of wet lab space, with additional opportunities to expand up to one million square feet of wet lab space in future construction phases, according to Lark. Group.

The region is emerging as a center for technology companies, scientists, educators and healthcare professionals, each representing a range of business, technology and research fields.

“We are leading the way in Surrey’s business and innovation landscape with the continued expansion and growth momentum of the Health and Technology District,” said Kirk Fisher, Senior Vice President, Lark Group , in a press release.

According to a third quarter 2022 report from Colliers.

Central Surrey is connected to Vancouver by SkyTrain and a SkyTrain extension to Langley is underway, noted Rowena Rizzotti, vice president of healthcare and innovations at the Health and Technology District. The building will also be immediately adjacent to Surrey Memorial Hospital, one of the busiest hospitals in Canada.

The area’s growth is reflected in growing interest in space in the neighborhood, with City Center 2 selling out noticeably faster than City Center 1, according to Rizzotti.

“City Center 3 was almost unprecedented and it was sold out even before it was completed. And then it also accelerated demand interest and there are already millions of dollars in pre-sales in City Center 4,” said she said in an interview with Business in Vancouver.

Rizzotti said that if demand for the current phase is strong enough, the next phase of City Center 5 could go live as quickly as nine months after City Center 4 is completed.

The building’s wet lab space (which requires specialized plumbing and ventilation) will fill a gap in the private sector that she said is much needed.

The area seeks to attract major Canadian industrial sectors, and the wet lab space makes the district more attractive to the entire Lower Mainland as an asset, according to Rizzotti.

Leading organizations are beginning to recognize the value of the region with the purchase of space at City Center 1 by the University of British Columbia (UBC) for its Masters of Physical Therapy program for the southern region of Fraser. This is on top of their $70 million purchase in 2021 for a 135,000 square foot property across the street, which is expected to be a mix of residential and commercial space.

Rizzotti says UBC’s presence is generating more interest from the private and public sectors, while changing the dynamic in the region.

“It’s certainly sparked interest and let everyone know that if UBC invests so much in this community, they really see a future in Surrey,” she said.

“There has been a lot of consideration and consultation going on about how we create an environment as a student-focused and business-focused campus.”

The City Center 4 building will be completed in the fourth quarter of 2025, according to Lark Group.