Richmond Updates

[jollyburger]

Originally Posted by domusile

Interesting - that office building has looked empty ever since it open except for one floor near the top which I believe the developer Chungwa occupies

This listing shows 13 spaces (including a restaurant/light industrial) available.

https://www.loopnet.ca/Listing/2777-Jow-St-Richmond-BC/29022118/

[jollyburger]

Richmond buys rental building for $70M from Townline, Peterson

The City of Richmond quietly acquired a rental building last year, Western Investor has learned, in another recent example of governments in British Columbia getting deeper into the housing business.

Transaction data seen by Western Investor, as well an industry source, confirm that the City of Richmond acquired 10820 No. 5 Rd. and 10880 No. 5 Rd. last August for a combined total of $70.25 million from private developers Townline Homes and Peterson Group, who partnered together over a decade ago to develop the property as part of a master-planned community called The Gardens, located immediately south of the Gardens Agricultural Park near Steveston Highway.

The 10820 No. 5 Road parcel is the rental building known as Camellia at The Gardens, a low-rise building completed in 2015 with 163 “luxury rental homes”, as the developers have described it, including 19 units secured by the City’s Low-End Market Rental (LEMR) program, according to city records.

The article says:

The property was managed by Peterson, who recently de-listed the property from its website following inquiries from Western Investor.

But it still seems to be listed, it might have to to do with Peterson making a new website

https://petersonbc.com/residential/rental-listings/?location=Camellia

https://www.westerninvestor.com/british-...-for-70m-from-townline-peterson-11930558

[whatnext]

Originally Posted by jollyburger

The article says:



But it still seems to be listed, it might have to to do with Peterson making a new website

https://petersonbc.com/residential/rental-listings/?location=Camellia

https://www.westerninvestor.com/british-...-for-70m-from-townline-peterson-11930558

The question would have to be: Why?

These aren't low cost rentals that need to be preserved for low income earners. Or is Richmond looking at making this somewhat remote location social housing of some kind?

[Lexus]

Originally Posted by officedweller

Thanks!
I see a sign that says 'Capstan Community Centre' on the podium.

2026, Mar 1

I saw one excavator on site, and there are signs that some digging been done!

Untitled by Lexus LX 700, on Flickr

2026, April 11
Excavation is underway at ViewS tar

Untitled by Lexus LX 700, on Flickr

[jollyburger]

Vancouver developer ASPAC has cancelled their Signature at River Green condo project in Richmond, citing market conditions.

ASPAC started returning deposits (with interest) this week, according to a notice shared with me. The intention is to redesign the project.

https://x.com/Howard__24/status/2032164439567581408

[whatnext]

Originally Posted by jollyburger

https://x.com/Howard__24/status/2032164439567581408

Gosh, Carney better lift that foreign buyers' ban to help these poor struggling firms.

[Lexus]

Originally Posted by whatnext

Gosh, Carney better lift that foreign buyers' ban to help these poor struggling firms.

I hope that remains unchanged. After renting for 14 years in Canada, I was finally able to buy a condo last year.

[whatnext]

Originally Posted by Lexus

I hope that remains unchanged. After renting for 14 years in Canada, I was finally able to buy a condo last year.

Congrats! That was in River District, right?

Yes, governments need to accept that falling house prices and by extension land prices is not a bad thing. To his credit, Carney seems to be scouring the globe for investment in other industries. For too long gov'ts have used real estate as a crutch.

[Alex Mackinnon]

Originally Posted by whatnext

Congrats! That was in River District, right?

Yes, governments need to accept that falling house prices and by extension land prices is not a bad thing. To his credit, Carney seems to be scouring the globe for investment in other industries. For too long gov'ts have used real estate as a crutch.

Same boat here! Once accounting for inflation, things are now seemingly cheaper than they were at the start of the pandemic.

The place I bought was under it's 2018 assessed value even before accounting for inflation, although it's bounced around quite a bit.

[Lexus]

Originally Posted by whatnext

Congrats! That was in River District, right?

Yes, governments need to accept that falling house prices and by extension land prices is not a bad thing. To his credit, Carney seems to be scouring the globe for investment in other industries. For too long gov'ts have used real estate as a crutch.

Thanks, just outside of it, near Jellicoe St.

[Lexus]

2026, April 11
Excavation is underway at ViewStar

Untitled by Lexus LX 700, on Flickr

[Zepfancouver]

Worked an office space yesterday Apr 13, 2026 - Also drove through a TV or Movie set, I posted and asked what production it was at Movie Shoot Locations

Bridgeport Business Centre - Pics by Me - Apr 13, 2026





• Video Link

[officedweller]

I guess they missed the FIFA window...

[Lexus]

2026, Apr 23

• Video Link

Untitled by Lexus LX 700, on Flickr

[jollyburger]

Old Cactus Club site at Lansdowne up to Levels 6/7

https://www.instagram.com/reel/DVv1myhDZtq/