VANCOUVER, British Columbia–(BUSINESS WIRE)–Keltic Canada Development (Keltic) is proud to announce today that it has secured one of Metro Vancouver’s largest land deals this year, acquiring a large plot of land in Richmond, British Columbia for over $300 million. The property, which is a total of 27 acres in size, is located at No 2. Road and River Road. The deal closed on December 7th and saw the transfer of ownership to Keltic Canada Development. The transaction was coordinated and brokered by Goran Bucan Prec from Sutton Group (WCR-Broadway).
As could be expected given the vast size of the land, Keltic’s development plans are significant in scale. Currently, the property is occupied by light industrial / commercial tenants. The company plans to create a vibrant multi-use destination including residential, commercial and industrial spaces that will add richness and vitality to the city. Twenty-three per cent of the land, or 6.4 acres, will be developed into green space and contributed back to the city for community use. Extensive public consultation will be utilized to ensure the property is developed respecting the authentic part of Richmond’s community but also create something new and exciting. Located next to Richmond Olympic Oval, the development is positioned to add to an already thriving area of civic activity.
“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,” shared Rachel Li Lei, Managing Director, CEO Keltic Canada Development. “We are committed to enhancing the quality of work and life for Canadians by developing sustainable, modern, and productive communities, and this development will be thoroughly representative of that mission.”
Keltic is a 100% Canadian-owned, diversified real estate development company headquartered in Vancouver. With established experience in building Lower Mainland’s residential, industrial, and mixed-use developments, this purchase adds to its long-term strategic growth plan for Greater Vancouver. The acquisition allows Keltic to forward its established dedication to building a superior and healthy standard of living that suits the everyday lifestyles of those who live in its built communities. In addition to this development, Keltic’s current projects at varying stages of development include Coco Oakridge, Nexus, The Paramount, Park West and upcoming O2 project in Metrotown.
For more information on Keltic, visit www.kelticdevelopment.com.