Steveston secondary sold to residential developer.

The Steveston secondary site has finally been sold to a residential developer.

Richmond School Board decided earlier this week to accept a conditional offer from Vancouver-based Polygon to develop the 13-acre site on No. 2 Road, just north of Steveston Highway.

The price has yet to be disclosed, but the school district was hoping for up to $50 million previously for the prime site, which has been up for sale since 2007.

Polygon, one of three preferred bidders, is expected to close the deal by Sept. 30, when all the information surrounding the transaction will be made public.

“Like most real estate deals, our purchase agreement with the school district is subject to a due diligence period where we hope to be able to assess and identify any specific issues related to the property,” said Neil Chrystal, speaking on behalf of Polygon.