The latest news coming out of the North Delta is the brand new $250 million highway project currently preparing to begin construction. The project has been a hot-button issue across the community, both for the positive buzz and the negative concerns surrounding it.
One thing is certain: it will have an effect on the community and on those who buy and sell homes in the area. Explore how the new multimillion-dollar highway project in Surrey will affect North Delta real estate values for buyers, sellers and residents.
Reducing Congestion, Improving Economy
Currently, the multimillion dollar highway project is underway in the areas south of the Fraser River, and the Surrey Board of Trade is welcoming it with open arms. The government’s feeling is that the new improvements are going to ease things overall, improving access to the area, reducing congestion for commuters and boosting the ability for trucks that support Asia-Pacific trade business.
This, in turn, will boost the local economy overall, according to government officials. The claim is that it will enable a renewed focus on the international trade operations that can grow business and economic prosperity.
Concerns about Traffic
Not everyone is so enthusiastic, however. At least one professor at Simon Fraser University has been critical of the project, claiming that in the long run this project will serve not to reduce congestion, but to make traffic even worse, which will do more harm than good in the end. The claim is that by improving access, more people will be attracted to the region, which will just exacerbate existing problems.
As an alternate proposal, opponents to the project have suggested improving railway networks that could ship goods by train across country and to the port. This, it is claimed, would be a far better use of the millions of dollars invested.
Weighing the Benefits
Government officials, however, claim that the economic benefits that will result will be worth any increase in traffic that might be caused in the long run. The plan, they say, is well within the province’s goals for long-term economic development in the region. Officials believe that these upgrades will make BC competitive economically with other regions, and will create new opportunities for international trade across the board.
Surrey, it is mentioned, is a vital supplier of food, metal products, beverages and other goods that are shipped to Asian markets, and this new access will only improve the efficiency of said shipments. Regardless of the debates, the project is scheduled to begin work this year, and should take about four years to complete.
North Delta Real Estate
What this could mean for North Delta real estate is in question. Even if traffic problems grow, increased access to the area, more potential jobs and better economic growth could mean great things for the Surrey Delta region in terms of housing. This means it might be a good time to both buy and sell in the next couple of years.
If you’re thinking about making a move within this region, you’ll need an outstanding real estate agent. Call the Kim Pawar real estate team for more information or help finding your North Delta dream home today!