Mixed-Use Development Planned for 4.9 Acre Richmond Site
A formal rezoning application has been submitted to the City of Richmond for permission to develop the project called “Atmosphere” at the corner of No. 3 Road and Alderbridge, across from Lansdowne Shopping Centre. The developer is South Street Development Group.
The 4.9 acre site at 7960 Alderbridge Way and 5333 & 5411 No.3 Road is in the City Centre High Density Mixed Use (Urban Centre T6) designation area of Richmond’s City Centre plan and allows for rezoning for residential and commercial uses.
The project envisions a podium and tower form of development with three levels of below grade parking, ground level commercial, one office tower and six residential towers.
Full details of the rezoning application include:
- a total of 872,585 SF;
- 824 residential units;
- 674 condos;
- 112 market rental units;
- 38 affordable housing units;
- 71,163 SF of retail space;
- 129,172 SF of office space;
- a total density of 3.89 FAR;
- improvements to No. 3 Road & Alderbridge.
- a new North-South Road.
- 1,161 parking spaces.
The site sold in September 2017 for $113,000,000, or $130 per buildable SF based on gbl arthe application.
The architect for the project is GBL Architects, and the marketing company is Magnum Projects.