Construction of a new Canada Line station will soon get underway following the transfer of millions of dollars in developer-supported funds from the City of Richmond to Translink.

In a statement issued Tuesday, the city announced it has handed over $28 million to the transit authority to begin plans for the construction of Capstan Station.

The latest addition to the Canada Line will be built in the area of No. 3 Road and Capstan Way, between the existing Bridgeport and Aberdeen stations. The city hopes it will accommodate the roughly 6,000 new residential units in the Capstan Village area.

"This is an excellent example of how the City of Richmond works with developers and partners such as TransLink to build strong communities," said Mayor Malcolm Brodie.

Plans were first envisioned in a 2012 agreement between the city and Translink to support growing development in the area. In 2017, work on the concept design began after a $1.1 million transfer.

The city said further work can now be undertaken to finalize the station's design.

Capstan Station is expected to be complete around mid 2022.