Rare multi-family development opportunity in the heart of Langley. 20326 & 20350 72 Avenue offer a combined 1.84 gross acres with proposed CD zoning and plans for a 6-storey residential apartment project with 218 homes. The concept includes underground parking, indoor and outdoor amenity areas, greenway dedication and strong frontage along 72 Avenue with future 71B Avenue access. Excellent location near 202B Street, schools, parks, daycare, existing apartments and major Willoughby growth. Asking $10,888,000. Buyer to verify all development details, approvals, servicing, fees, density and timelines with the Township of Langley.
Property details
2 ft²
Lot size
$35,702/yr
Gross tax
Location & structure
Land
Type
Langley
Area
Willoughby Heights
Sub-area
Structure
Land Only
Property highlights
Underground parking
Features & inclusions
Lot
Central Location
Additional details
Tax year
2025
Listed by Royal LePage Global Force Realty. Data from BCRES. Last updated Jul 9, 2026, 3:28 PM.
This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board or Real Estate Board of Greater Vancouver which assumes no responsibility for its accuracy.
Jessica specialises in residential financing across Greater Vancouver, helping buyers secure competitive rates and navigate complex purchases with clarity.
Jessica Kuan
Licensed Mortgage Broker
This is an estimate only and does not constitute financial advice or a mortgage offer. Based on $2,176,000 down (20%) on $10,880,000, Canadian semi-annual compounding. Property tax sourced from listing. No strata fee on record for this listing. Home insurance, land transfer tax, and closing costs are not included. Consult a licensed mortgage professional for personalised advice. Mortgage professionals featured here are independent licensed brokers. Ray Rasouli may receive a referral fee if you choose to work with one. You are under no obligation to use any recommended provider. Full disclosure.
Supply outlook
Where supply, demand, and prices are heading by 2035
CMHC scenario data, applied to this listing's metro area
House prices, 2024 to 2035
CMHC scenario comparison
18.4 percentage points
Building enough supply could keep prices 18.4 percentage points lower by 2035.
Source: CMHC supply-shortages report (2026)
Housing starts needed each year
Current pace vs CMHC supply target
7,245 units short
Vancouver is starting about 7,245 fewer units per year than CMHC says is needed to keep prices stable.
Source: CMHC supply-shortages report (2026)
Housing stock, 2024 to 2035
Projected dwellings under current trajectory
24.0 percentage points
Stock grows about 24.0% over the period under the business-as-usual scenario.
Source: CMHC supply-shortages report (2026)
Apartment construction pace
Apartment starts in 2025 vs the 10-year average
8.6% above
Condo and rental apartment construction is running 8.6% above the 10-year pace, easing future apartment scarcity.
Source: CMHC supply spring 2026
Family-home construction pace
Houses and townhomes started in 2025 vs the 10-year average
20.9% below
Ground-oriented (houses + townhomes) construction is running 20.9% below the 10-year pace, squeezing family-sized supply.
Source: CMHC supply spring 2026
Inventory mix
What this area trades in
Within 3 km of this listing · 988 listings
Townhouse
351
35.5%
Condo / Apartment
347
35.1%
Detached
223
22.6%
Land
28
2.8%
Half-duplex
20
2.0%
Other
19
1.9%
Source: active, display-eligible listings within 3 km of this listing. The radius widens automatically when nearby inventory is sparse.
Census 2021 dwelling structural-type mix · Langley · 120 dwellings
Single-detached80 · 66.7%
Apartment in duplex20 · 16.7%
High-rise apartment20 · 16.7%
Source: Statistics Canada · 2021 Census of Population
Neighbourhood demographics
Who lives in this small neighbourhood
The following information covers the Dissemination Area that contains this property. A dissemination area is the smallest standard geographic area Statistics Canada publishes data for, typically 400 to 700 residents.
Statistics Canada Area #59153871· Langley· Transit 79/100 (62m to frequent)· 0.32 km²
Median rent here
$2,100
Owner shelter cost
$2,280
Renters
33.3%
30%+ on shelter
19.2%
Population (2021)
401
Median age
38.0
Avg household size
3.3
Avg household income
$130,000
Renters
33.3%
Owners
66.7%
Immigrants
29.9%
Post-secondary
52.7%
Avg home value
$1,180,000
Single status
31.8%
Not in labour force
32.4%
Households with kids
48.0%
Median rent
$2,100
Owner shelter cost
$2,280
30%+ on shelter
19.2%
Breakdown
$45,000 to $49,999
5
4.5%
$60,000 to $69,999
5
4.5%
$70,000 to $79,999
5
4.5%
$80,000 to $89,999
5
4.5%
$90,000 to $99,999
10
9.1%
$100,000 to $124,999
15
13.6%
$125,000 to $149,999
15
13.6%
$150,000 to $199,999
30
27.3%
$200,000 and over
20
18.2%
Source: Statistics Canada, 2021 Census of Population (Census Profile, dissemination area 59153871).
Market story
Rent in Langley
Census 2021 avg $2,100/mo here · Vancouver 2BR rent trend below
Estimate, not a prediction. Forward values use CMHC scenario growth rates applied to the latest actual. Actual outcomes will differ. Do not use as financial advice.
Vancouver CMA rental snapshot · 2025
Purpose-built vacancy
3.7%
Avg 2BR rent
$2,363
+2.2% YoY
Condo vacancy
1.5%
Avg 2BR condo rent
$2,900
Source: CMHC Rental Market Report (2025)
CMHCVancouver outlook
From the CMHC Spring 2026 Housing Supply Report · Mar 2026
