UPDATE: District tries, again, to sell Steveston site.

The Richmond school district is hoping a poor economy and a desperate need for a city centre school will entice the Ministry of Education to finally approve the sale of the former Steveston secondary land to a non-government or profit entity.

The Richmond Board of Education has okayed district staff’s bid to once again approach the ministry about selling the site in order to use that money to build a new school in the fast-growing city centre.

12.58 acre Steveston Secondary Site

The property was put up for sale in 2007 with the caveat the buyer had to be a government or nonprofit organizations. However, after a deal with the city (the only entity to make an offer) fell through, the district opened the sale to the highest bidder later that year.

Richmond Review – Sportstown redevelopment proposal gets sent back to the drawing board.

A bid by the owner of Sportstown to flatten the longtime East Richmond recreation hub in favour of townhouses has hit a roadblock at city hall.

A city council committee has ordered planners to dig up more information and consider other development options for the long-and-narrow site, located parallel to Highway 91 at 4991 No. 5 Rd.

Coun. Bill McNulty said council’s planning committee, which he chairs, wants to maximize the potential of the land and wants commercial and retail uses explored, along with the possibility of a mixed-use development.

Read more: http://www.richmondreview.com/news/188934651.html

An air space parcel at Robson and Denman containing 3 retail units has been sold by Canada Safeway. ‘The Shops on Robson’, 1716-1798 Robson Street was offered for sale by Safeway in the fall of 2012. The 13,203 sq ft property was built in 2008; is fully leased to Vancity, BC Liquor and CIBC, and is shadow anchored by the Safeway store located above. The $23,500,000 purchase price represents a 5.8% cap rate and a 6.3% cash-on-cash return. The buyer was a local investor.