Alegra is an extremely rare permit-ready development site in a premium location at the heart of Richmond’s City Centre at Lansdowne and No. 3 Road. Comprised of 100,883 sq. ft. of net rentable area, the Property presented investors with a unique opportunity to build a fully entitled, purpose-built rental apartment building with retail at-grade directly across the street from the future master-planned redevelopment of Lansdowne Centre. Located in a transit-oriented hub with Lansdowne SkyTrain Station only a one-minute walk away, the Property has seamless access to Downtown Vancouver and Metro Vancouver in addition to the abundance of shops, services, restaurants, and other retail amenities available within the area. The Property provides an extremely rare opportunity to develop the largest rental project in Richmond since 2017. As a result, the Purchaser acquired a unique and irreplaceable long-term investment property in a dynamic community within B.C.
Through a full-scale marketing campaign that highlighted these key features of the Property, CBRE was able to successfully transact the asset to an experienced developer based in British Columbia.