If you own property in the 22nd Street Station Area, you may be approached by a developer, real estate agent, or other prospective buyer expressing interest in your property. The City does not provide advice about private real estate transactions, but residents are encouraged to become informed about the value of their property and its future development potential before making a decision related to land sales.
City of New Westminster Development Services Department – Information about the regulations and considerations related to development in New Westminster
Real Estate Board of Greater Vancouver – Real estate news, resources and member directory of real estate professionals
Appraisal Institute of Canada – Searchable database of local, certified property appraisers
Real Estate Speculation
Note that the Bold Vision and implementation plan will not create any new development rights (entitlements) for the 22nd Street Station Area. Development rights are determined by the Zoning Bylaw. If the type of development permitted in the Zoning Bylaw is different from that envisioned in the implementation plan, an applicant may apply for a rezoning in order to change the entitlements (e.g. land use, density) for the property.
A rezoning entails a formal public process and the final decision is made by Council. Council is under no obligation to approve a rezoning, even if it is consistent with the vision or master plan for the area. Applicants should also be aware of the development costs associated with rezoning, such as development cost charges, community amenity contributions, and the construction of new or upgraded services. The City of New Westminster cautions against speculation based on anticipated rezoning or development decisions.