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Condominium projects have taken over the skies of Vancouver, changing the composition of the downtown core along the way. Most of these developments are replacing surface parking lots or low-slung buildings, but a new proposal for a valuable lot along Robson Street — one of the city's main thoroughfares — underlines just how hot the residential property market really is.
The 42-storey Empire Landmark Hotel at 1400 Robson Street has remained the tallest hotel-only building in Vancouver since it opened in 1973. But it may be nearing the end of its lifespan. The hotel's Hong Kong-based property owner, Asia Standard International Group, is looking to replace the aging complex with two condominium towers climbing to 30 and 28 storeys. The three-star hotel has faced increased competition in recent years from Airbnb and new facilities coming online. With Vancouver's real estate market among the most expensive in North America, making the switch from hotel to residential would likely prove to be a lucrative venture for the developer.
The development application asks for 280 dwelling units, 57 of which would be classified as social housing. Retail would form much of the ground-level frontage while offices occupy the floor above. Four levels of underground parking would service the site. The City is expected to assess the proposal in December.
The hotel is one of two buildings in the city — the other being the Harbour Centre Tower on Hastings Street — to host a revolving restaurant up top. Cloud 9 currently provides diners with panoramic views of the downtown core, the West End, Coal Harbour, English Bay, and Stanley Park.
We'll continue to follow the project as more information becomes available. You can check out the Database file for updates and get involved in the discussion by visiting the associated Forum thread or by leaving a comment in the field provided below.
