RICHMOND (NEWS1130) - Advertised as Richmond's very own Coal Harbour, the River Green development sold out this weekend at $145 million. According to the developer that breaks a Richmond real estate sales record.
The biggest purchase was by a family who bought four suites valued at $5 million. Four penthouses also sold on the opening weekend at over $3.4 million. The sale of the first 150 condos in the 458-unit first phase set Richmond sales records for individual condominium sale price and price per square foot.
Condo developer George Wong says this proves the once down-and-out real estate market is back. "It does set the tone for Lower Mainland real estate strengths. I certainly hope this is a shot in the arm for real estate in the province."
The 28-acre luxury waterfront community is expected to take 15 years to build.