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Tuesday, March 28, 2023

Keltic Canada buys 27 acres in Richmond for $300 million+

Keltic Canada Development announced Tuesday one of the largest land deals in Metro Vancouver in 2021, with the purchase of 27 acres at No. 2 Road and River Road in Richmond.

The site is currently occupied by light industrial and commercial tenants and is located next to the Richmond Olympic Oval. Keltic Canada Development is planning a “significant” development, with residential, commercial and industrial spaces. The initial plan calls for 23 per cent of the land (6.4 acres) to be developed into green space.

Richmond development site aerial
Aerial of Richmond development site.

“The acquisition of this piece of land presents us with an opportunity to work with the City of Richmond
and the public to design and develop their dream, and to create something that will have a positive and
lasting impact on this community for generations to come,” said Rachel Li Lei, Managing Director, CEO
Keltic Canada Development, in a press release.

Vancouver-based Keltic Canada Development is currently developing projects in North Vancouver, Burnaby, Richmond and Vancouver.

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Peter Meiszner
Peter Meiszner
Peter Meiszner is an experienced journalist and media relations professional, based in Vancouver. As founder of urbanYVR.com, he has been reporting on urban development across the Lower Mainland since 2016, and has also served as vice-chair of the Gastown Historic Area Planning Committee. In October 2022, he was elected to Vancouver city council and is no longer actively reporting for urbanYVR.

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