BC Assessment released the most valuable properties in Squamish, and some familiar properties are on the list once again in 2024.
BC Assessment released the 2024 property assessments on Jan. 2. These valuations are based on reviews conducted in July 2023, which always happen in July every year.
This year’s most valuable properties are listed in order below:
- 1339 Pemberton Ave. – $58.4 million – Chieftain Centre area
- 1200 Hunter Pl. – $56.1 million – Squamish Station
- 1201 Commercial Way – $52.3 million – Business park area
- 39480 Queens Way – $49.9 million – Advance Self Storage
- 39400 Government Rd. – $45.1 million – BC Rail owned land
- 40238 Glenalder Pl. – $39.6 million – Portion of Garibaldi Village Shopping Centre (Phase 3 section)
- 38012 Third Ave. – $36.8 million – Ashlu property, rental apartments and commercial space
- 39210 Discovery Way – $34 million – Walmart
- 39300 Discovery Way – $33.4 million – Business park area
- 1940 Centennial Way – $30.3 million – Anthem Properties development
The list above does not include tax-exempt properties, such as Capilano University, formerly Quest University, which has a 2024 assessment value of $59.6 million.
The value assigned by BC Assessments doesn’t necessarily mean that is what the property would sell for on the real estate market. Real estate is dependant on more factors, such as the potential buyers visiting your home—something appraisers don't do. Also, the assessments are done in July, a lot can happen between then and when a potential buyer looks at a home. (Check out REW for more factors that differentiate the assessment and market value.)
Both the Chieftain Centre and Squamish Station were at the top of the list last year, though Chieftain Plaza took the top spot this year. Both, however, decreased in value in 2024, with Squamish Station dropping about 12% and Chieftain Centre dropping about 6%.
Again, the business park area on Commercial Way ranked third with an increased value of about $5 million compared to 2023. Advance Self Storage is new to the list, having jumped up over double from about $23.9 million to $49.9 million.
The BC Rail-owned land is also new to the list and has no previous assessments available. It is the land found on the east side of Government Road as drivers near the turn for the Squamish Spit.
Bryan Murao, an assessor with BC Assessment, wrote in an email to The Squamish Chief that new folios are created when provincial land is leased out, which is what he said was likely happening in this case.
An Assessment Roll Report shows BC Rail Properties as one of the owners and FortisBC as an additional owner, but FortisBC says that is incorrect.
A spokesperson for FortisBC wrote to The Squamish Chief that they are associated instead with the civic addresses at 39000 and 39050 Government Rd. They will be following up with BC Assessment as to why they are listed as an additional owner for 39400 Government Rd.
The Garibaldi Village Shopping Centre property once again made the list. Its value stayed nearly the same, with an increase of about $1.2 million from 2023 to 2024.
Also a newcomer to the list is the Ashlu building on Third Avenue, which will have 67 rental apartments and commercial space on the ground floor. The property sold for $38 million in 2023.
Finally, the last three properties were on the 2023 list, and all have increased in value.
Walmart increased from $25.5 million to $34 million in 2024's assessment, the business park property at 39300 Discovery Way increased from $25 million to $33.4 million, and the Anthem Properties development increased from $29.5 million to $30.3 million.
**Please note that this story was updated after it was posted to add to a paragraph that was inadvertently cutoff in the online posting process.
