Landa Global has acquired a 3.4 acre development site on Elmbridge Way in the City Centre area of Richmond for $60 Million. The site is designated Urban Centre T5 within the Oval Village subarea of the City Centre Area Plan.

A rezoning application had been submitted by the previous owner to allow a high-density mixed use residential hotel development in three towers.

The site at 6851 & 6871 Elmbridge Way had been listed for sale with Avison Young in 2019:

We reported the site’s previous sale in 2014. The purchase price at that time was $31,300,000.