Richmond City has finally bought some of the hottest land in Canada for a cool $59 million. Located on Garden City Road between Alderbridge Way and Westminster Hwy, this is some of the most fertile land in Canada and as such it is protected by the regions Agricultural Land Reserve (ALR). Richmond originally wanted to build a high-density community with previous unsuccessful attempts at acquiring the land . However, they claim the future of the land is uncertain, except for a small portion allocated for sports fields.
Personally, at VcB, we would love some sort of a mini New York Central Park to complement the plethora of mid-rises in the Richmond core. An organic garden could be included. The sports fields are also a good addition for sure. We’ll see what Richmond comes up with. However, with the bolstering demand for housing in Richmond, expect possibly to see some medium-density housing, maybe even a convention centre.
The purchase was made from the reserve funds left over after the sale of the land around the Olympic Oval. That land sold for nearly a $100 million more than expected and thus helped the city buy this land. To the immediate north a planned community including some commercial office and a Walmart will be under constructin soon. All in all, this is great news for Richmond and lets hope they take their time and add some green space to the core. This further solidifies Richmond as the best suburb sout of the Fraser (as long as the whole earthquake, Richmond sinking myth is just that).