Zenterra Developments’ upcoming Solana project features 90,000+ sq ft of indoor and outdoor amenities.
SURREY – Zenterra Developments has established itself as a powerhouse in the Fraser Valley’s real estate market. With a focus on Surrey and Langley, the company has grown from managing a few townhome projects to currently having approximately 1,000 units under construction, with plans to bring 3,500 to 4,000 homes to market in the next three to five years.
Reflecting on the company’s growth, Vice President Derek Fenton, who has been with the organization since its early days, attributes much of the success to their full-service approach. “Zenterra is a full-stop shop – builder, developer, sales, marketing, construction, home care, everything all in-house,” Fenton explains. This model has allowed them to maintain control over all aspects of their developments, ensuring quality and consistency across their projects for the last 25 years.
Derek Fenton, Vice President, Zenterra Developments
When Fenton joined the company, it was a small office with a startup mentality. He recalls, “When I first started, there were about four of us. It was very entrepreneurial-driven. We had to be masters of everything, a Swiss army knife style.” This all-hands-on-deck approach laid the foundation for what would become an exponential growth story.
Zenterra’s strategic decision to concentrate on the Fraser Valley was met with some skepticism at first. Fenton, who grew up on the North Shore, saw an immense opportunity for growth in the region. “I always focused on the tremendous amount of opportunity and value in the Fraser Valley. Many people were wondering, “What exactly are you doing?” However, it was evident that the natural growth trends were shifting eastward,” he reflects.
The company’s success is also tied to their foresight and ability to navigate market shifts. Fenton notes, “We were well-positioned in one of the last market booms in 2016, which led us to make some strong land acquisitions in key areas.” These strategic moves, coupled with a market boom in 2021, elevated the company to its current role as one of the largest builder-developers in the Fraser Valley.
Their product offerings have also evolved in response to changes in the housing market. “When I first started, townhomes were four-bedroom, double-wide, 2,000-square-foot units,” says Fenton. “Now, we’re doing 1,400-square-foot townhomes because, from a price point, that’s what people can really afford.” This shift in focus reflects their commitment to meeting the needs of homebuyers in a changing market landscape.
The Fraser Valley’s rapid growth has brought both opportunities and challenges for developers. According to Fenton, infrastructure improvements like the Port Mann Bridge expansion and Highway 1 upgrades have been key drivers of the region’s population increase. However, he also points out that affordability pressures and stringent regulations are ongoing concerns.
Zenterra’s commitment to excellence has earned them numerous accolades at local, provincial, and national levels. Fenton emphasizes the company’s integrated model, stating, “When we sell you a home, we deliver that. It’s the same people, there’s no outsourcing. We control every aspect, and we aim for every community we design to be award-winning.”
Looking ahead, Fenton sees a positive market outlook, particularly for 2025. “A lot of the headwinds are now behind us, and we’re looking at a much more positive outlook moving into 2025,” he shares. Interest rate drops, the introduction of new lending regulations, and an insurable mortgage limit increase are factors he believes will bolster market demand.
Despite the ups and downs in the market, Fenton remains confident in the company’s ability to navigate challenges. “The resiliency of the real estate market is there, and within our organization, we’re in it to win it. We’re resourceful, and committed to achieving what we set out to do” he asserts.
Zenterra’s story is one of foresight, adaptability, and a drive to overcome obstacles. As the company continues to develop large-scale communities, Fenton and his team remain committed to their vision of building quality homes in the Fraser Valley.
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