Another strip mall in the North Delta Social Heart has been sold.
Located at 8350 112 Street, the Nordel Place strip mall recently sold for $10.25 million. The commercial zoned, 12,503-square-foot retail centre sold for just over its assessed value.
The site is currently occupied by a single-storey commercial building with a large surface parking lot. Retail tenants include a private liquor store and the constituency office of BC housing minister and Delta North MLA Ravi Kahlon.
In 2021, the 42,294-square-foot Nordel Centre strip mall directly across the street also sold. Located at the corner of 112 Street and 84 Avenue, that strip mall sold for $21.35 million, which was $2.9 million over its assessed value.
The current Official Community Plan (OCP) designation for the site is Mixed Use (North Delta) 4, which anticipates a maximum of four storeys and up to 120 units per hectare for residential uses.
There’s no word when, or if, either shopping centre may up for redevelopment.
A recent City of Delta planning department report on the city’s evolving housing initiatives, as well as the provincially mandated housing target for Delta, notes that increased densities in town centres and major corridors will be explored for policy changes.
Involving the adjustment of height and/or density allowances to accommodate more units in areas that are “well suited” for increased density, the candidate areas include the Nordel Social Heart, Scott Road, Ladner Trunk Road, Tsawwassen Town Centre and 56 Street in Tsawwassen.
The planning department is also planning an expedited OCP review and overhaul.
As far as the Nordel Social Heart, council recently granted preliminary approval for a townhouse development in the area.
The zoning bylaw amendment application, development variance and development permit will enable the consolidation of three lots at the 1100-block of 84 Avenue to allow for the construction of a 24-unit development. Located near the corner of 114 Street, the development will include five, three-storey townhouse buildings.
A planning department report notes, that the site is also located in the Nordel Social Heart Development Permit Area. The objective of that development permit area is to revitalize the character and function of the Nordel Social Heart by encouraging a node of commercial, recreational, cultural and educational facilities and open space, supported by a mix of residential uses, including multiple-family development.
Council this year also heard a presentation from the proponent behind a plan to build a six-storey mixed commercial and residential apartment building at the northwest corner of 84 Avenue and 112 Street.