Redevelopment of Richmond Center with 12 Additional Residential Towers is Underway

Redevelopment of Richmond Center with 12 Additional Residential Towers is Underway

  • Business
  • Real Estate
  • Redevelopment
  • Transit
June 13, 2019

Redevelopment of Richmond Center
Redevelopment of Richmond Center with 12 Additional Residential Towers is Underway: this is the largest Richmond redevelopment project to date. Under existing zoning CDT1, CF Richmond Centre received a permit to a two-phase, high-rise, high density, mixed retail/residential development at the south end of the CF Richmond Centre.

Redevelopment of Richmond Center

The redevelopment will commence in Spring 2019 for Phase 1 of the project on the western side of the Mall fronting Minoru Road. Phase 2 covering the eastern side including new parking entry, plaza, and mall entry to be complete by 2026.

Redevelopment of Richmond Center

Southern CF Richmond Center parking lot and part of the mall will be replaced with 12 residential towers comprising 1850 market condo, 150 affordable market rental housing, and 200 market rental housing. A total of 2,200 additional residential units with Skytrain within walking distance in the City of Richmond.

Redevelopment of Richmond Center

An average of 49% of all residential units is two & three-bedroom units for large size families. Residents will be able to enjoy over 42,000 sq.ft of indoor amenities and 130,000 sq.ft outdoor facilities distributed in all the buildings. Ground level features new shops and restaurants creating a shopping precinct experience. The combination of outdoor and indoor shopping transform Richmond Center into a vivid and vibrant place to be.

Redevelopment of Richmond Center

A total of 420,000 sq.ft of additional retail space in the form of street shops and expansion of the mall towards No. 3 Road. The Demolished ground level parking will be replaced with Two levels of underground parking.

The new canopy galleria fronting No. 3 Road will be opened for public use during transit hours to improve public access to Richmond-Brighouse Station. It will feature an improved sidewalk for pedestrian and cyclists by adding greenway on Minoru Blvd, alternating bicycle lane on high street, and a wider pedestrian sidewalk on Park road. New lighting and seating will be installed for the public.

Redevelopment of Richmond Center

CF Richmond Center is making better use of all the parking spaces to create more residential housing and revitalize the Richmond Center shopping experience. We expect the completed redevelopment will be better than the Park Royal Shopping Center in West Vancouver.

Yoyoe Lu

Founder and managing principal
yoyoe@claridgeadvisors.com

Yoyoe is the founder and managing principal of Claridge. She was ranked one of Vancouver’s top real estate agents. Currently, Yoyoe is our strategic mind leading the team to success. Her affiliation with industry professionals put her ahead of our competitors. Yoyoe is also part of the Rotary Club of West Vancouver, Canadian Homebuilders Association, Urban Land Institute and Urban Development Institute.

Ashley Osborn

Development Site and Investment Specialist
ashley@claridgeadvisors.com

Ashely is our lead land and investment advisor. He has been consistently featured in the annual top 100 real estate deals of British Columbia ranking. With over $15 billion worth of domestic and international real estate investments under his belt, Ashley is one of the top agents in the province. His 20 years of real estate and financial experience make him a master in negotiation and acquisition.

Patricia Wong Chong

Investment and Leasing Specialist
patricia@claridgeadvisors.com

Patricia is our investment and retail leasing advisor. Her experience in brokerage and market research analysis has helped her comprise over $550 million in commercial real estate transactions. Patricia is responsible, detail-oriented, and professional. Her strong work ethic and positive attitude have led her to surpass all her competitors.

Simon Chan

Managing Broker
simon@claridgeadvisors.com

Simon is the managing broker of Claridge Real Estate Advisors Inc. His expertise has helped our agents resolve many difficulties. Not only is Simon knowledgeable with real estate legislation, but he is also very detail orientated. With Simon on our team, our agents are confident to conduct businesses and will always get the support they need to ensure they’re not walking on dirty water.

Schumann Li

Land Assembly & Residential Specialist
schumann@claridgeadvisors.com

Schumann is a top-producing realtor in the Lower Mainland with more than 30 years’ experience. Over the years, Schumann hasn’t just garnered awards, but the trust of countless customers. Her clients continually refer to her outstanding professionalism, work ethic and poise.

Danny Chen

Land Assembly Specialist
danny@claridgeadvisors.com

With many successful real estate transactions under his belt, Danny is an experienced Land Assembly Specialist who knows the subtleties of negotiation and how to successfully close deals. Danny is well known for his persistence and get-it-done attitude. He continues to dive deeper into the commercial side of real estate and successfully sealed multiple deals in a short amount of time.

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