2-Acre Richmond Development Site Sells

A two acre property in Richmond’s City Centre area has sold for $24,550,000. The site, at 7100 Elmbridge Way, is currently occupied by industrial buildings, but is designated within the City of Richmond’s City Centre Area Plan for Urban Core T6 in the Landsdowne Village sub-area. This designation allows for redevelopment for mixed-use including residential up to 2.0 FAR.

The buyer was Xpec Development. Xpec has other projects on the go in Vancouver including sites on Fraser Street and Oak Street.