TransLink has completed the sale of the Oakridge Transit Centre lands on Tuesday.
This is one of the largest real estate transactions in B.C. history.
The property sold for $440-million which will be paid in phases by 2020.
The 5.6-hectare site on West 41st Avenue has been sold to Intergulf-Modern Green development Corp.
TransLink CEO Kevin Desmond says proceeds from the sale will provide additional regional funding for the Broadway and Surrey rapid transit projects and will help maintain the momentum of the 10-year transit vision.
He says proceeds will also contribute to financing capital projects that improve service and transportation infrastructure.