The Town of Richmond has purchased a vacant 1.98-acre plot of land at 71 Regent St. in Richmond Hill, Ontario from Philmor Group for $8.8 million, or $4,447,140 per acre.
Prior to the sale, a general retail strip mall was situated on the land. However, the retail strip was demolished the spring of 2016. Before selling the land, the Philmor Group had planned to build a 28-unit upscale condo building, according to CoStar information.
The Town...
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