Abbotsford

Let’s be direct about Abbotsford. It’s the economic engine of the Central Fraser Valley and a genuine city by any measure. It’s also squarely outside our lending sandbox.

Tekamar was built for the rest of BC—the places outside the gravitational pull of Metro Vancouver. Abbotsford, with over 150,000 people and a population density of more than 400 people per square kilometer, is the definition of the market we choose to avoid. This isn’t a town with one main road; it’s a city with complex infrastructure, short commute times for a huge portion of its workforce, and a real estate market to match.

We’ve seen the files from here, and we know how deals work in the area. It’s a community of contrasts. On one hand, its economy is anchored by agriculture—the berry farms and greenhouses are foundational. On the other, it’s a major multicultural center, home to one of Canada’s largest South Asian communities. This creates a complex social mix, with a well-known east-west cultural and real estate divide that anyone working in the area understands. Add in a mild climate that’s getting warmer—it’s a plant hardiness Zone 8b—and you have a place that’s highly attractive to both families and retirees. With nearly one in five residents over 65, there’s a stable, predictable demand from seniors that further solidifies the market.

The economy here is diverse, but not in the way we see in smaller, resource-based towns. The risk is spread across major sectors like retail, healthcare, construction, and transportation, none of which depend on a single commodity price. A median household income of $90,000 and a high rate of post-secondary education point to a skilled and stable workforce. The housing stock reflects this, with over half being multi-family units like apartments and townhomes. It’s a deep, liquid market that’s well-served by A lenders, credit unions, and other MICs that specialize in high-density, urban-adjacent lending. Our capital, priced for the specific risks and slower recovery timelines of smaller markets, just isn’t competitive or appropriate here.

For us, it comes down to geography and mandate. Our investors are our friends and family, and they trust us to stick to our niche: lending in communities where we can be the first call, not the last resort. Abbotsford has plenty of financing options. For that reason, our maximum loan-to-value in Abbotsford is 0.0%.

If you have a deal in a town with a tricky property and fewer doors to knock on, that’s our game. Abbotsford, however, is a market for the big players.