A $4 billion wave of development in Richmond is set to include the Vancouver International Plaza, which would feature three new hotels, a conference centre, office buildings and an entertainment district, Business in Vancouver has learned.
Richmond Mayor Malcolm Brodie is scheduled to unveil $4 billion worth of development in his city today (April 17) at noon at the Sheraton Vancouver Airport Hotel.
The announcement includes the “largest single development project ever proposed for Richmond,” according to the City of Richmond.
As reported by BIV last month, Europe’s largest outlet mall developer hopes to build a 340,000-square-foot mall on a 30-acre site next to Vancouver International Airport. (See “Major new outlet mall planned near YVR” – issue 1167; March 6-12, 2012.)
But it is likely a massive development planned for Duck Island, next to River Rock Casino, that is to be the focus of today’s announcement, according to a BIV source.
A spokesperson for Richmond city hall would not confirm that the key development being announced today is the so-called Duck Island development.
However, a copy of a rezoning proposal obtained by BIV shows the Jingon International Development Group has 15 hectares of land west of the River Rock Casino that it wants to develop.
The plan includes:
- five- and four-star hotels;
- a business hotel connected to a new conference centre;
- a 300-slip marina;
- 1.58 million square feet of retail and entertainment space.
The land, commonly known as Duck Island (formerly an island, before fill was used to connect it to Lulu Island) was sold to the Jingon group in May 2011. Colliers International brokered the deal.
