Lady Luck smiled on Richmond, BC twice.
First, the city gained the favor of Vanoc to build of the $187 million superstructure that was used to host speed-skating events. Then good fortune came to Richmond again when ASPAC, the Hong Kong based developer purchased the land just west of the Oval for a cool $141 million in an all-cash transaction. That amount was more than three times the government of Richmond had expected and the money not only help clear any debt that Richmond had in finishing the Oval project, there was enough left over to allow Richmond to purchase a key piece of real estate in the heart of the city, the Garden City Lands.
Right now, ASPAC is working diligently to lay the preliminary foundation for what will be known as RiverGreen, a parcel of land just west of Dinsmore Bridge. ASPAC intends to build a cluster of 12 to 14 residential towers with 2,000 units to house 4,000 residents. RiverGreen will be the largest planned community housing project in Richmond.
The ASPAC housing will be restricted to 14 stories high as they will be in the direct flight path of the YVR Vancouver International Airport’s air traffic. But to compensate, if that is the right word, RiverGreen residents will have a spectacular view of the famous North Vancouver northshore mountains.
ASPAC is a real-estate developer of high-end residential living spaces that has plenty of experience with the city of Vancouver having developed the Waterfront Place and Harbour Green Place in downtown Vancouver and Wesbrock in UBC University Endowment Lands.
With the construction of the Richmond Olympic Oval and the subsequent good fortune that Richmond has gotten in just a few short years, the city is now well on its way to revive a part of the city that could as well turn into a riverside wasteland or an industrial slum and holds the promise to connect up the formerly disjointed north and south portions.
Will Richmond score a Golden Future with the Oval?
Jogger runs along Middle Arm Greenway and enters Richmond Oval Spirit Square.