Langley Gateway, a two-building light-industrial development in Langley, British Columbia, that sold out before the first shovel hit the ground, confirming the strong demand in an area with an intense shortage of such spaces.
Langley, a suburb of 143,000 people on the Fraser River about a one-hour drive southeast of downtown Vancouver, shares an issue that faces the entire B.C. province, where buildable land remains in short supply due to it being surrounded on thee sides by an ocean, a border and the Rocky Mountains.
Finding a method to quell the ongoing demand for small-bay warehouse space has remained a challenge that has frustrated many developers but Vancouver-based Denciti pulled off the coup by employing its deep knowledge of the local real estate market to create the facility. The firm's efforts earned the project a 2023 CoStar Impact Award for the commercial development of the year in Vancouver, as judged by real estate professionals familiar with the market.
About the Project: Construction on the 92,000-square-foot development entailed two warehouses at 19748 86 Ave., Building A and Building B, both with 24-foot ceilings. Denciti Development Corp. began construction on the project during the difficult circumstances provided by the pandemic, breaking ground in February 2022. The project occupies a six-acre site near the southwest corner of the busy interaction of the Trans-Canada Highway and 200 St., just north of Langley's downtown core. The two-building complex comes with 114 parking spaces.
The supply of small bay spaces has been long neglected in the region, as the last addition in the area took place in 2005.
Denciti sold 100% of the project before construction began, according to its website. The company noted that it faced challenges building during the pandemic but the outcome will be a much-needed resource for the local economy.
What the Judges Said: “It is contributing to a dire need for industrial space in the region,” said Bill Aube with the city of Vancouver.
“I believe it was impactful because it brought a product need in high demand to a market with little new offerings," said Matthew Hudson with Balfour Pacific Capital.
They Made It Happen: The project was developed by Denciti Development, which was founded in 2018 by Garry Fawley, Volodya Gusak and David A. Fawley and is based at 1185 West Georgia St in Vancouver. Partners in the project were Frontline Real Estate Services Ltd., Ventana Construction Corp. and Nicola Wealth.
