Surrey Sports-Anchored Venue & District Market & Feasibility Study

Hunden Partners was engaged by the City of Surrey, Canada, to conduct a market analysis and feasibility study for the development of a mixed-use entertainment facility in the City Centre.

Surrey City Centre is located in North Surrey and connected by three major transit corridors: King George Boulevard, Fraser Highway, and 104 Avenue, and was projected to be more populated than Vancouver over the next several years. The area was without any large entertainment venues.

The City was in the process of redeveloping the Centre into a walkable, high-density, transit-oriented downtown with major employment, services, higher-density housing, commercial, cultural, entertainment, and institutional activity. The City was also considering the development of a new multi-use entertainment and sports facility to serve the local and regional community.

Hunden Partners provided the City with market findings for two types of facilities: Option 1 was an indoor event venue (arena) to support both ice and dry-floor sporting events, and Option 2 was an outdoor event venue (stadium) to accommodate sports and live events. Hunden also provided financial projections and recommendations on the optimal surrounding mix of uses, supporting businesses, and land uses to enhance the competitiveness of the recommended facility and the Centre, as well as inform potential financing strategies.

Hunden completed a full market and financial feasibility analysis to determine the current supply and demand for the Project. Hunden then provided prescriptive recommendations on the ideal facility, as well as the optimal mix of users and business tenants within the Centre that would best connect with customers.