You might be thinking, what exactly is a Land Assembly? A Land Assembly is when two or more homeowners decide to sell their homes together to an investor and/or developer for redevelopment.
These types of transactions can be tricky to navigate as there are many moving parts. The process takes a lot of patience, time, and energy. Not only do a collective of homeowners need to decide that a land assembly is something they want to do, you need to have the right agent on your side who understands the intricacy’s of finding the right developer to purchase the assembly, help navigate through obstacles with the various city department, planning, building, and even City Council. All while ensuring the site is build-able without any foreseen problems. However, with all that being said selling as a part of a land assembly can be very beneficial for homeowners for various reasons; your home doesn’t need to be prepared for public viewings and typically land assemblies receive a premium in their sale price.
Land assemblies are becoming more and more common as the Lower Mainland is running out of space for homes. Developers are picking up sets of properties and depending on what the city has set out in their OCP's (also known as Official City Plan) are developing townhomes, low-rise and high-rise condo’s as well as commercial spaces.
I have experience working though many assemblies in the past few years. I always have my client’s best interest at heart and pride myself on making the process as smooth as possible with keeping lines of communication open throughout the entire process.
Here are a few notable assemblies I have worked on.
If you have any questions or are thinking you and your neighbours might be interested in exploring this option send me a message and I would love to help figure out your goals and how to achieve them.