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New Richmond Hotel, Retail and Residential Development Near the Olympic Oval Receives Final Approval

June 12, 2024 — Landa Global Properties has received final approval for its upcoming hotel, retail and residential development near the Olympic Oval. The 3.5 acre site, located at Elmbridge Way and River Road, will include three 15-storey towers with 376 residential homes, including 35 affordable homes, as well as a 189 room hotel, 15,000 SF of retail and amenities. The residential homes will include a mix of one, two and three bedroom homes. This final rezoning approval by Richmond City Council came yesterday after unanimous approval by the DP panel in May.  

“We are excited to be moving forward on creating this special destination development for Richmond,” said Kevin Cheung, Landa CEO. “It’s a project that will bring much-needed new housing and new hotel rooms to the area, transforming it from a series of single-storey, light industrial buildings into a vibrant, mixed-use community. From the landmark architecture and design to the amenities, the project will activate the site in a way that is dynamic, inclusive and beneficial to the neighborhood.”

The architecture and design partnership includes Arno Matis Architecture, Arcadis and Studio Munge.

 “This signature project represents an evolution of design language for the City of Richmond, which began with our recently completed residential development, also with Landa, called Cascade City,” said Arno Matis, principal. “With its prominent location across from the Olympic Ova, this project adds an exciting hotel program with interiors by Studio Munge, in addition to two new residential towers. We are looking forward to achieving something truly exceptional here.”

The proposed development is consistent with current Official Community Plan (OCP) and CCAP policies which encourage high-density mixed-use development with vibrant commercial frontages and pedestrian-friendly streetscapes and supporting infrastructure. This project also provides for infrastructure improvements through the dedication and construction of a new west road that would provide a connection between Elmbridge Way and River Road, widening of the existing lane along the east of the subject site and frontage upgrades along the Elmbridge Way and River Road frontages consistent with the works in the surrounding area. Vehicle access to the on-site parking areas in the development is to be provided from the lane and a single drive-way access generally situated mid-block along the new west road.

Other highlights include EV infrastructure requirements for all resident parking, bicycle storage and $330,000 in public art. Further details for the 9,235 square foot indoor amenity space, as well as the 29,235 square foot outdoor amenity space are still in development. 

Sales for the residential homes are expected to start in 2025.