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Pacific Canada  + Multi-residential Housing  |  August 2, 2024
Rendering of cancelled Richmond, B.C., hotel project.
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By: Monte Stewart

Dava Scraps Richmond Hotel-Condo Project

Dava Developments has scrapped its hotel and condominium project in the Capstan area of Richmond, B.C.

The local company told city councillors that it could not finalize the project before the municipality’s new rental-housing development rules for the area took effect July 17, the Richmond News reported.

As a result, city council rescinded its rezoning of properties on Patterson Road where the proposed development site is located. The city’s new policies for the site require 15% of the 163 proposed multi-residential units to comprise rental suites, the Richmond News reported.

Located near Sea Island Way and Garden City Way, the development site spans four wooded lots. The city sold the site at a reduced cost to Coastone Investment in 2019 as part of a land swap.

Rendering: Dava Developments

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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.
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