A 3.4-million-square-foot development with a hotel, entertainment facilities, shopping and businesses has been proposed for the site where the Richmond Night Market is currently situated.
It’s considered one of the biggest developments currently under consideration in Richmond.
The night market recently was given permission from city council to continue operating on the lot for another three years.
Kevin McKinney with Jingon International Development, the applicant, said they’ve developed a plan with the night market about future operations on the 20-acre site.
“So, as each phase develops, the night market can be accommodated on the lands,” McKinney said.
“Our vision at the end is for the night market to remain as a critical piece of animation on the site,” he added.
Arts facility, park, community safety building part of plans
The land is currently zoned for industrial, and the applicant asked city council to rezone it to high-rise riverfront commercial and institution as well as “school and institutional use.”
This was approved unanimously on Monday by city council at the first reading of the rezoning bylaw - next it will go to a public hearing on May 21.
The development will take place in three phases.
The city will receive $15 million in contributions for a “leisure facility reserve fund” and almost seven acres for public space and dikes.
The developer will also build a 30,000-square-foot arts and culture facility and an 11,000-square-foot community safety building. These will be owned by the city.
Other publicly accessible spaces include a 1.6-acre river-fronting “balcony” and three acres of open space.
McKinney noted the developer has a hotel interested in the project during phase one, something that will be announced soon.
“There’s a lot of market interest in making this project real,” McKinney said.
He added they hope to have the project fully approved by next year.
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