Surrey secures Vancouver Giants arena site through $116M land swap

The City of Surrey has reached an agreement in principle to secure land for a new 10,000-seat arena that will become home to the Vancouver Giants, relocating from Langley Events Centre.

The arena, called Surrey City Centre Arena and Cultural Event Centre, will be built immediately east of Surrey City Hall and SkyTrain's Surrey Central Station as part of a high-density, mixed-use development. The complex will also include a luxury hotel with about 175 guest rooms and conference space, residential units, and 100,000 square feet of office and retail/restaurant space.

The land will be secured through a strategic exchange between the City of Surrey and developer Wesgroup Properties. Surrey will acquire the 5.1-acre site at 10355 King George Boulevard — a former Safeway store that closed in 2021 and its surface parking lot — in exchange for three city-owned properties: two vacant industrial parcels at 2750 194A Street (14.65 acres) and 19165 39 Avenue (4.3 acres), plus a third property at 12820-12842 96 Avenue.

This is a cashless deal. A transaction review by consulting firm EY-Parthenon found the proposed land values are in line with independent appraisals and broker estimates, affirming the municipal government is getting fair market value. Surrey Mayor Brenda Locke said the land-swap was completed with "not one but two independent appraisals to ensure a fair deal for both parties."

The projected $360-million development could be completed by 2030. Giants owner Ron Toigo said in a joint statement, "We are thrilled to be part of this amazing venue that will change the face of Surrey like never before."