A large chunk of land near Highstreet has been sold for $26 million.

Chunk of land near Highstreet sells for $26 million

Multi-family development in Abbotsford likely on two large properties

A large chunk of land immediately north of Highstreet has been sold for $26 million, with the developer likely eyeing the construction of multiple condo buildings.

Prominent Lower Mainland developers Alf and Bruno Wall purchased the two parcels, with a combined 12.5 acres. The properties were assessed at $19.2 million last year.

The site is designated as “midrise” in the Official Community Plan. Earlier this month, the city received an application to rezone the property in order to permit a multi-family residential development, but a proposal listed on a city website lists few additional details.

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