Developers hoping to hit Lower Mainland paydirt
Building over landfills, sweetening rezoning bids, paying record prices the new normal
By Frank O'Brien | May 11, 2021
The 170-acre Richmond Industrial Centre is being developed on a former landfill site | Omicron
As Metro Vancouver’s industrial land vanishes beneath concrete and asphalt, developers are throwing a wide net in their search for more space to meet intense demand that has driven industrial lease rates to the highest level in Canada.
One $300 million major project is rising above a Richmond landfill, another is bucking protests as it forges ahead with plans for 163 acres in a Delta peat bog while multiple bids are driving up land values from Vancouver to the eastern edge of the Fraser Valley.
Prices for brown site industrial lands, being bought for speculative development, have reached incredible levels.
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https://biv.com/article/2021/05/deve...inland-paydirt