The Richmond Night Market has been cancelled for 2008, according to a Target Events Production Ltd. media release.

Target Events has hosted the night market every year since 2000, with nightly attendance as high as 30,000 people, according to the release.

Night Market founder Raymond Cheung was quoted in the release, claiming that the landlord for 12631 Vulcan Way–where the event has been held–had decided not to renew the lease.

“The landlord wanted to significantly increase the rent and we do not believe that we could continue to provide a safe, high quality event for the public to enjoy at the rate demanded,” Cheung is quoted as saying.

Though a prized community tradition, the Richmond Night Market has not been without controversy.

A September 2004 Asia Pacific Post report claimed that the event had become a “involved in the manufacture and sale of fake goods”. That story included an account of a police raid on the market, in which a “whole array of fake goods” was discovered.

Target’s release stated that another group, Lions Communications, is attempting to secure the necessary permits from the City of Richmond to hold a similar event in the same location.

Cheung was also quoted as saying that the Richmond Night Market hopes to find an alternative location for 2009.