Massive residential community preparing to build east of Richmond Olympic Oval

The developer of the largest residential project in Richmond's history is preparing to build its first high-rise tower east of Richmond Olympic Oval.

ASPAC Developments' Oval 8 Holdings Ltd. is seeking the endorsement of city hall's development permit panel today to build two residential high-rise towers and a series of townhouses that will contain 268 homes. Another 27,249 square feet of street-level commercial space is planned.

"It will contribute to the revitalization of the waterfront and set the standards for residential developments in the Oval Village neighbourhood waterfront lands..." said senior planner Francisco Molina in a report.

Homes will range in size from 540 square feet for one-bedroom units to 1990 square feet for three-bedroom-plus-den units, according to Molina's report.

The now-vacant site is already zoned for the high-density development. The site's address is 6622 Pearson Way, which is a new road planned for the area.

The project is part of ASPAC's 11.3-hectare (28-acre) River Green development, a luxury condominium community surrounding the oval and fronting the Fraser River's Middle Arm. High-rise development west of the oval is well underway.

If the development permit panel approves of the project, city council will then have a final vote before a permit is issued.

Other recent development activity in the area includes Ora, a trio of high-rises being built by Onni at 6951 Elmbridge Way, containing 324 homes over ground-floor retail. Also, at 5440 Hollybridge Way, another three towers are planned on a site now occupied by a tenanted warehouse complex.

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