Zenterra Developments continues to drive forward with its pipeline of presale condo projects east of the Fraser River, with the company suggesting the solid Surrey-Langley market, its hyper-local focus and in-house construction team are helping it amid a struggling presale market. 

Surrey-based Zenterra recently launched sales on Atlin. It’s the first condo building in a seven-building Clayton Crest master plan that will, if fully realized, bring 700 new homes to the emerging West Clayton area. 

Atlin, a six-storey building, will include 115 homes ranging from studio units to 3-bedroom homes. The project is located along the Fraser Highway near 72nd Avenue. 

"One of the really . . . unique features for this community is that West Clayton is a brand new neighborhood," said Derek Fenton, vice president with Zenterra, in an interview. "It's all greenfield or larger, rural homes right now.

"Atlin is . . . going to be the first community in the area."

Fenton told RENX the first building will include a child-care facility, and each of the buildings in the master plan will feature a shared rooftop patio for the residents. 

Market watchers will know that some developers in the region have been shying away from the pre-sale condo market. In some cases, developers are halting projects or even cancelling the process after taking deposits.

Some developers have converted condo buildings into rentals. Developers say the investor community has backed away from the market, which is making it tough to move forward.

Fraser Valley focus matches stable, local demand

Fenton says Zenterra is continuing to have success, despite those conditions. 

Zenterra announced in December it was previewing and taking deposits on Solana, a 230-unit project ranging from studios to two-bedroom condos. It’s the first phase of a multi-phased development at 80th and 200th streets in Langley. Residents of Solana, comprised of two, six-storey wood-framed buildings, will have access to more than 90,000 square feet of indoor and outdoor amenities.

"Since (launching Solana) we've done about 200 sales," he said. "That project is now about 90 per cent sold."

Fenton said he can't speak for the challenges or strategies for other developers, but having Zenterra's development and construction teams integrated has been a big help.

"We don't rely on any outside people," he said. "We're our own construction company; we do our own land development; we do our land purchasing (and) our own development work. We have our own sales arm; we have our own marketing arm; we have our own home-care arm. Everything is in-house."

Fraser Valley "is our niche"

Fenton said there are pockets of the Fraser Valley that continue to attract buyers. 

He said Zenterra's Commons community, another low-rise condo project with 200 units in Langley, is close to 90 per cent sold. That project launched in 2023. 

"We've predominantly built our entire business in the Fraser Valley," he said. "We're now one of the largest, if not the largest, multifamily builders in the Fraser Valley, and I think that this is our niche, and we just have an absolute understanding of the market and what we need to do to be successful."

He said Zenterra, like other developers, typically needs to sell roughly 50 per cent of pre-sale units to move forward with construction. He said the pre-marketing process for Atlin has shown early promise. 

The presale process also requires due diligence on what the market wants, which in this region requires great amenities, access to childcare, a well-connected location and plenty of cooperation with local realtors. Clayton Crest is located a short walk from the future Hillcrest station on the Surrey-to-Langley SkyTrain extension, expected to open in late 2028.

"(You need to) have the confidence that . . . your community can be built properly, and that we're going to deliver the home so that we don't run into situations where deposits are being given back," Fenton said.

Tough to gauge wider market 

Like other developers, reading the wider market has been a challenge at Zenterra. 

"I feel the news cycle changes week to week" he said, referring to the U.S. tariff attacks and threats -- and the subsequent economic uncertainty. 

However, when Atlin completes, conditions will hopefully have improved by then for everyone, he said.

"This is a moment in time, and life happens for buyers." He said people get married and families grow and there will always be a market of people who need to find a home in the community, regardless of broader economic conditions.

"If you take a step back . . . Vancouver is not any less of a nice (region)," he said. "Our reputation doesn't matter if there's tariffs or no tariffs. It's not changing . . . we're going to deliver homes that we're proud of."