Landa Global Properties planning 3-tower development in City of Richmond

Landa Global Properties is looking at developing in the City of Richmond, which is part of Metro Vancouver, with a new 3-tower development.

The company has submitted a rezoning application to redevelop a 3.5-acre warehousing site into a three-tower mixed-use development, which will also feature a hotel (brand is still to be decided).

The newly planned condo-hotel project is close to the Olympic Oval and is located at 6851-6871 Elmbridge Way.

According to the application, Landa will incorporate the required 10 percent for affordable rental apartments. The condo complex will include 369 condominiums, 36 affordable rental units and about 200 hotel suites. The building are designed by Arno Matis Architecture and Rafii Architects, along with Toronto’s Studio Munge.

“We didn’t think we would do another project in Richmond because when we first started the Cascade project there was so much competition and so many new developments around — but here we are,” said chief executive officer Kevin Cheung. “Cascade City was a tremendous success and we are building on the success of that one. This is a continuation of Cascade City.”

“This project is different in the sense that it will have a significant hotel portion, a 200-room hotel, and the unique opportunity that that creates, because it offers a style of living with a hotel component which can be the services and amenities… and all the things you don’t see in a traditional purely residential project.”

“Overall, downtown hasn’t really seen any offering,” he said. “We are all very anxious to see which project will come out first and how they perform, so I think there’s a lot of anticipation there.”

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