Onni Group's latest venture in Surrey's Whalley neighbourhood represents more than just another development announcement. The Vancouver-based developer is planning a transformation that will stretch across three decades, replacing four aging apartment buildings from the early 1970s with a dense, mixed-use community of 12 towers. What makes this project particularly significant is its timing and location—it sits at the intersection of Metro Vancouver's housing crisis, provincial transit-oriented development policies, and Surrey's ongoing evolution into a true urban center.
The Scale and Timeline
The Regency Gardens redevelopment will unfold across eight phases on a site bounded by properties at 10520 132 Street, 13270 105A Avenue, 13325 105 Avenue, and 13352 105A Avenue. The numbers are substantial: 2,705 residential units split between five mid-rise and seven high-rise buildings, with 321 units designated as rental housing. The project also includes nearly 24,000 square feet of commercial space.
BC Assessment currently values the four parcels at a combined $69 million as of July 2025. Onni holds the properties through Onni Regency Holdings Corp. and RPMG (105A Avenue) Holdings Ltd. The first phase is expected to complete in 2032, with the entire project wrapping up around 2060—a timeline that reflects both the complexity of phased development and the realities of market-driven construction cycles.
Strategic Location in Surrey's Transit Corridor
Location drives much of this project's rationale. The site sits immediately south of Whalley Athletic Park and Stadium, positioned midway between Gateway Station and Surrey Central Station on the Expo Line. This placement qualifies it as a Tier 3 transit-oriented area under provincial legislation—a designation that fundamentally changes development economics by eliminating minimum parking requirements.
Despite having no parking mandate, Onni plans to provide 2,724 vehicle parking spaces and 1,182 bicycle parking spaces. This decision reflects market realities: while transit-oriented development policies aim to reduce car dependency, developers still need to meet buyer expectations in a region where vehicle ownership remains high. The parking provision suggests Onni is hedging its bets, building for current market demands while positioning for a potentially more transit-dependent future.
The Phasing Strategy
The eight-phase approach reveals careful planning around both construction logistics and tenant displacement. Phase 1A begins at the southeast corner—currently a parking lot—with a 48-storey tower containing 504 strata units and a six-storey building with 78 rental units. Phase 1B adds a 24-storey tower with 237 strata units to the northwest.
A key infrastructure move happens early: extending 133 Street through the site to roughly bisect it. This creates two distinct development zones, with phases 1-4 on the eastern half and phases 5-8 on the western portion. The street extension integrates the development into Surrey's urban grid rather than creating an isolated superblock—a planning approach that supports walkability and neighborhood connectivity.
The remaining phases follow a similar pattern of mixing tower heights and unit types. Phase 2A delivers a 26-storey tower with 310 units at the northeast corner, while Phase 2B combines a six-storey rental building with a 43-storey tower containing 423 units. Phases 3 and 4 mirror this approach on the western half, with tower heights ranging from 16 to 33 storeys.
Rental Replacement and Tenant Protection
The treatment of existing tenants deserves scrutiny. The four current apartment buildings contain rental units that will be demolished, triggering Surrey's rental replacement policy. Because Onni submitted the application in March 2024, it falls under the previous version of the policy rather than the updated rules approved in October 2025.
Under the applicable policy, Onni must replace all existing rental units at rents 10% below CMHC average rents for Surrey. The phasing plan allows existing rental buildings to remain occupied while new buildings rise, and current tenants receive right of first refusal to move into replacement units. This approach minimizes displacement compared to projects that require immediate tenant relocation, though the multi-decade timeline means many current residents may not ultimately benefit from the new units.
The 321 rental units in the new development represent a fraction of the 2,705 total units—roughly 12%. The remaining 2,384 strata units will be sold at market rates, reflecting the economic reality that rental replacement policies preserve existing affordable housing but don't necessarily increase the overall proportion of rental stock in new developments.
Unit Mix and Amenity Calculations
The suite mix targets a range of household types: 166 studios, 886 one-bedrooms, 529 junior two-bedrooms, 610 two-bedrooms, 258 two-bedrooms with dens, 250 three-bedrooms, and six townhouses. The heavy weighting toward one-bedroom and junior two-bedroom units (52% of the total) reflects market demand from young professionals, downsizers, and investors seeking rental income.
Onni proposes 56,328 square feet of indoor amenity space—less than required for a project this size, necessitating a cash-in-lieu payment to the city. However, the 96,369 square feet of outdoor amenity space exceeds requirements. This trade-off is common in large developments where outdoor amenities like courtyards, rooftop terraces, and landscaped pathways can be delivered more cost-effectively than indoor facilities like gyms, party rooms, and co-working spaces.
Financial Implications and Community Amenity Contributions
The project will generate significant community amenity contributions (CACs) under Surrey's tiered system, though these apply only to the 2,384 strata units, not the rental replacement units. Each phase will require individual development applications that refine details and trigger specific CAC calculations. These contributions typically fund infrastructure, parks, community facilities, and affordable housing initiatives in the broader neighborhood.
The 2060 completion timeline introduces considerable uncertainty around costs, market conditions, and regulatory requirements. Projects spanning multiple decades face risks from interest rate fluctuations, construction cost inflation, changing building codes, and shifting market preferences. Onni's experience with other large master-planned communities provides some insulation against these risks, but the extended timeline means later phases could look substantially different from current renderings if market conditions demand adjustments.
What This Signals for Surrey's Urban Evolution
This project exemplifies Surrey's transformation from suburban municipality to urban center. The density, height, and transit orientation would have been unthinkable in Whalley two decades ago. Now, developments like this are becoming standard as Surrey positions itself as Metro Vancouver's second downtown and works to accommodate regional population growth projected to add hundreds of thousands of residents over coming decades.
The 30-year timeline also reflects a pragmatic reality: transforming neighborhoods happens slowly, even with aggressive development policies. While provincial TOA legislation and municipal zoning enable this density, actual construction depends on market absorption rates, financing availability, and construction capacity. Onni will likely adjust the pace based on sales velocity and economic conditions, meaning the 2060 completion date is more projection than commitment.