Consider it a rumour no more, according to some documents from the City of Surrey and the Site Context & Background on Page 3 of Application No. 7921-0328-00, the location is now scheduled to be converted into the Georgetown by Anthem project:

Generalized site DP for a 4 phased proposal to allow for a total of Five (5) mixed use high rises totalling 2208 residential units and 8658 sq. M of commercial space. See 7922-0103-01 for Detailed Development for Phase one which includes one 31 storey residential tower and one 32 storey residential tower and a detached amenity building with some commercial. Total of 720

At the time of writing this, I could not locate Application No. 7922-0103-01. RIP Whalley Canadian Tire.