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VANCOUVER — Cenyard Properties, a local real estate investment, development and capital lending company, has announced it has acquired full ownership interest and control of two properties in Metro Vancouver for a total of $90 million.

The first property, Guildford, is a three-acre retail plaza in Surrey in the early stages of rezoning. The plan is for a potential three tower community with approximately 1,000 homes, explains a release.

Foster Fairview, a transit-oriented site in Burquitlam that is currently single-family homes, is in early rezoning stages to become over 300 apartments.

Both properties had been joint ventures between Cenyard and Landmark Premiere Properties. 

“We’re excited to take the lead on these two strategic acquisitions,” said Jeffrey Liu, CEO of Cenyard, in a statemeent. “Both are exceptional transit-oriented development sites with strong fundamentals and long-term potential to develop much-needed housing with real community impact.”

According to Liu, Cenyard will be advancing both projects and working with various municipalities to move the projects forward in the next few years.