Development firm buys Richmond site near Olympic Oval for $60 million

A 3.5 acre site near Olympic Oval, with potential for a mixed-use community, has sold for $60 million to a development firm.

The site — located at 6851 and 6871 Elmbridge Way near River Road and purchased by Vancouver-based Landa Global Properties — also has the potential for retail or hotel space, according to Western Investor. The price-per-acre was approximately $17.1 million.

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The site is “designated for high-density, mixed-use development,” reads the listing for the land on Avison Young, with “sweeping views” of the Fraser River and Vancouver.

The listing also notes that the site is the only high-density project slated for rezoning and/or development in the Oval Village, and already has a rezoning application in process with the City of Richmond.

The rezoning is due this summer, according to Western Investor.

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