Cenyard Properties, a real estate investment, development and capital lending company, has acquired full ownership interest and control of two development properties in Metro Vancouver. 

Guildford Plaza, the first property, is a three-acre retail plaza in Surrey in the early stages of rezoning. The second property is Foster Fairview, a transit-oriented site in Burquitlam that is currently occupied by single-family homes. That site is in early rezoning stages to become over 300 condos. 

Cenyard bought out Landmark Premiere Properties in both deals. 

“Both transactions involved Cenyard acquiring Landmark’s entire interest in both the Guildford and Foster Fairview projects, making Cenyard the sole developer of both sites,” said Jeffrey Liu, CEO of Cenyard in an email interview with RENX. 

“We took over the Guildford and Foster Fairview projects based on our strong confidence in their long-term value and our desire to drive their successful delivery through more focused and efficient management,” Liu added. “These two projects were previously developed in partnership with Landmark Premiere Properties.

"However, due to changes in the market environment and Landmark’s own strategic realignment, Cenyard Properties completed the full acquisition and takeover of both projects on May 16, 2025.”

The cost for the two properties was approximately $90 million. Both are producing income in the interim while the rezoning and pre-development process plays out.

Landmark Premiere Properties did not immediately respond to questions from RENX about the transactions and the company’s broader development strategy. The company has been involved in insolvency proceedings related to some of its development activities in the region.

Struggles facing regional development market

Market watchers understand the development market in the Lower Mainland is amidst a period of rare struggle, with a rising number of developers pausing, cancelling or converting projects due to a lack of investors in the pre-sale market, rising condo inventory and economic uncertainty felt by buyers.  

“We plan to carry forward the original planning direction while optimizing design details to better align with current market needs,” Liu explained. “For Foster Fairview, we will continue to pursue phased rezoning approvals. As for the Guildford project, the overall planning framework will remain intact, and we aim to further refine the architectural design and community amenities.”

The proposed Guildford development is a mixed-use community with three towers that combine residential, commercial, and community spaces, designed by Arcadis. Located across from Guildford Shopping Mall, it will offer access to shopping, dining and entertainment.

Foster Fairview is a proposed six-storey community offering one-, two- and three-bedroom strata homes in the West Coquitlam neighbourhood. It spans a full city block with access to parks, schools, shopping, the SkyTrain rail transit network and features interiors designed by Ciccozzi Architecture.

Liu says the rapidly-changing market environment has prompted developers to reassess their plans. “Inflationary pressures, policy uncertainty, and shifting capital markets have made it necessary — even for well-established projects — to adjust course,” he wrote. “These changes don’t necessarily reflect failure; in many cases, they are a form of adaptation."

“While we understand these issues are top of mind for many in the industry, we prefer to focus on the steps we’re taking to ensure our own projects remain resilient,” Liu said, when asked how Cenyard’s approach would lead to success where other developers are struggling. “Every developer faces unique challenges, and we believe long-term planning and financial discipline are key.”

Cenyard says it has funding from a major bank for the mortgages on both sites.

Cenyard focuses on building homes and commercial spaces

Cenyard Properties is a Vancouver-based real estate development and investment company, founded in 2020 as part of a broader group with over 20 years of development experience overseas.

Cenyard’s portfolio includes market condominiums, purpose-built rental housing, hotels, retail, and industrial developments. 

The company says it holds over 700 acres of land reserves in Vancouver, Burnaby, Surrey, Burquitlam and the Sunshine Coast.

In addition to real estate development, Cenyard is affiliated with a commercial lending platform, Cenyard Capital Corp, established in 2019, which provides land acquisition and development financing to other developers in B.C.