A Surrey elementary school that had the coffers of its playground fund completely drained by thieves has received an early dose of holiday cheer thanks to the kindness of a prominent real estate developer.

Students and parents at École K.B. Woodward had nearly reached their $50,000 goal for a much-needed playground replacement when they learned that the money had been taken from an account where the parent advisory council keeps its funds.

The theft was a devastating blow to students and parents who had spent nearly three years raising money through bottle drives and bake sales.

The story made headlines across the province, and also touched a nerve with Rick Ilich of Townline Homes.

"I believe in fairness and I just felt like they were robbed," he told CTV Vancouver.

The residential and commercial builder has stepped up and is donating $30,000 for new playground equipment. Construction on the new playground will break ground this spring.

On Monday, Ilich visited the school and was given a standing ovation from hundreds of students.

He called the moment overwhelming, and emotional.

"It's a sincere thanks and going to a great cause," he said. "The kids deserve it."

An RCMP investigation was launched after the theft. Mounties say they are still gathering information and no arrests have been made.