Jon Stovell, the president and CEO of Reliance Properties, told Daily Hive Urbanized his company is in the process of selecting an international architectural firm to develop some redevelopment design concepts soon.
He says it will be a mixed-use development, with an upscale hotel as a “strong consideration” given its location in the very active core of the city centre, and its close proximity to Hotel Vancouver.
“We think it’s one of the most important sites in the whole city. It is the cultural heart of the city, so we’re talking to quite a wide range of really global-level architectural firms,” said Stovell.
Striking Jenga condo tower in downtown Vancouver moving forward to launch dailyhive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyhive.com Daily Mail and Mail on Sunday newspapers.
The developer acquired the building in 2007, a year after the City of Vancouver ordered the previous private owner and their tenants to vacate due to the building’s dangerous condition. Prior to the building’s use as an SRO, it was an office building.
However, as of today, this building’s future will come full circle, as it has been acquired by BC Housing for supportive homes for women experiencing homelessness in the area, specifically those “who are committed to reducing or stopping substance use.”
The provincial government covered the $10.9 million cost of acquiring the building from the developer. It will also provide the operator, Atira Women’s Resource Society, with an annual operating fund of $1.3 million.
Construction expected to begin this year on new major Vancouver office tower dailyhive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyhive.com Daily Mail and Mail on Sunday newspapers.