River District, a 120-acre waterfront development on the Fraser River in southeast Vancouver, is an instant town in search of a core.
The project, the largest in the city since build-out of the former Expo 86 lands began, has seen hundreds of homes sold and five kilometers of river front trails completed. Developer Wesgroup also paid millions of dollars to improve Marine Way access to the former forestry mill site that is planned for a population of about 17,000.
Peeter Wesik, president of Wesgroup and a veteran developer, confirmed it is the largest development Wesgroup has ever undertaken.
Polygon has sold more than 400 townhomes and low-rise condominiums in the project and began marketing its 145-unit Rhythm project this spring.
Polygon is also planning two more River District projects that combine to have 250 homes.
Now the emphasis is on creating a commercial town centre.
The town square will be accessible from Marine Way and include about 140,000 square feet of retail space with 20,000 additional square feet on a second floor, making it potential office space. Wesgroup also plans two residential towers in the centre, with a total of about 700 homes.
TD Bank is the only confirmed tenant, but Wesgroup sales manager Ben Taylor said a large food retailer and a national pharmacy have expressed interest. Wesgroup is also seeking coffee shops and restaurants and other light retail for a “lively town centre.”
“That is what everyone is waiting for,” Taylor said, gesturing to the hundreds of homes already complete.
