Robson Street site acquired to build two rental housing towers

Robson Street site acquired for redevelopment into two rental housing towers

Site of 1525-1555 Robson Street (Google Maps) and a preliminary conceptual artistic rendering of the redevelopment into two rental housing towers (GWL Realty Advisors).

More major changes are being eyed for the 1500 block of Robson Street in downtown Vancouver’s West End neighbourhood.

GWL Realty Advisors (GWLRA) announced this week it has acquired the site of 1555 Robson Street, located at the northeast corner of the intersection of Cardero Street and Robson Street.

This site is currently occupied by a 1949-built, three-storey retail building that was previously home to Jang Mo Jib Restaurant. Its location is immediately south of Westbank’s newly completed landmark Alberni by Kengo Kuma condominium tower.

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This newly acquired site was previously owned by VivaGrand Developments, which was forced to dispose the property due to a court-ordered sale.

The 16,400 sq ft lot of 1555 Robson Street now joins GWLRA’s existing property of 1525 Robson Street immediately to the east.

Records show the mid-block property of 1525 Robson Street — a similar lot area of 16,400 sq ft with a 1965-built six-storey office and retail building — was acquired by the developer in September 2022 in a deal worth about $63 million.

1525-1555 Robson Street Vancouver rental housing gwl realty advisors

Site of 1525-1555 Robson Street, Vancouver. (Google Maps)

Site of the newly acquired corner property of 1525 Robson Street, Vancouver. (GWL Realty Advisors)

Site of 1525-1555 Robson Street, Vancouver. (Google Maps)

In 2018, VivaGrand Developments’ development permit application for 1555 Robson Street was approved. At the time, the developer had plans to build a 300-ft-tall, 28-storey tower with 177 homes, including 153 strata condominium homes and 24 social housing units, as well as two levels of office space and ground-level retail/restaurant uses. Court proceedings were triggered after VivaGrand Developments defaulted on its loan from its construction financing sources.

Prior to the new acquisition of 1555 Robson Street, GWLRA had plans to redevelop 1525 Robson Street into a single mixed-use tower with about 200 secured purpose-built rental homes and ground-level retail/restaurant uses.

Cancelled 28-storey tower concept with condominiums, social housing, and commercial space at 1555 Robson Street, Vancouver. (IBI Group Architects/VivaGrand Developments)

1525 robson street vancouver gwl realty advisors rental housing

Cancelled standalone single tower concept with rental housing and commercial uses at 1525 Robson Street (centre), with the adjacent tower site of 1555 Robson Street silhouetted (left). (Marcus & Millichap/GWL Realty Advisors)

Cancelled standalone single tower concept with rental housing and commercial uses at 1525 Robson Street, Vancouver. (Marcus & Millichap/GWL Realty Advisors)

According to GWLRA, with the new acquisition, the combined sites of 1525-1555 Robson Street spanning about 33,000 sq ft will be turned into a redevelopment with two towers containing about 400 secured purpose-built rental homes and over 40,000 sq ft of retail/restaurant uses on the lower floors. Both towers will reach up to 28 storeys, including the two-storey commercial podium.

Under the City’s West End Plan, the new buildings on this site can reach a height of up to 300 ft, with a minimum commercial use requirement for the lower levels, and potential density increases if the project incorporates rental housing or social housing uses.

“We are excited about the opportunity to combine 1555 Robson with our client’s neighbouring ownership position [at 1525 Robson Street]. The combined site represents a rare, scaled opportunity in one of Canada and North America’s most attractive and dynamic markets,” said Steven Marino, executive vice president of portfolio management for GWLRA, in a statement.

Existing condition:

Site of 1525-1555 Robson Street, Vancouver. (Google Maps)

Future condition:

1525-1555 Robson Street Vancouver rental housing gwl realty advisors 7

2024 preliminary conceptual artistic rendering of the redevelopment with two towers at the combined site of 1525-1555 Robson Street, Vancouver. (GWL Realty Advisors)

GWLRA is the real estate investment subsidiary of the Great-West Life Assurance Company, which is one of Canada’s largest private insurance firms.

Geoff Heu, GWLRA’s vice president of development for Western Canada, added, “This will allow us to make a positive change to the neighbourhood in an impactful manner, which will be great for the city and for our stakeholders. We would like to thank the City of Vancouver for its continued support for our local projects.”

This is GWLRA’s second rental housing tower project in the immediate area. Just across the street at the site of 825 Nicola Street (the southwest corner of the intersection of Robson Street and Nicola Street), GWLRA reached completion in November 2021 on Chronicle — a 21-storey tower with 128 secured purpose-built market rental homes and 5,500 sq ft of retail/restaurant uses on the ground level.

Chronicle at 825 Nicola Street, Vancouver, as seen on November 25, 2021. (Kenneth Chan/Daily Hive)

Just up the hill to the east, the 1986-built, six-storey Listel Hotel at 1300 Robson Street — featuring 129 guest rooms and the restaurants of Forage and The Jervis Joint — will close in November 2024 to prepare for its demolition.

Listel Hospitality has partnered with Bosa Properties to redevelop the property into a new 28-storey tower with a replacement hotel containing 174 guest rooms within the lower levels, as well as 126 secured purpose-built rental homes within the upper levels and new restaurant offerings. A development permit application was recently submitted, with the aim of beginning construction in September 2025 for a completion and opening in 2028.

listel hotel vancouver 1300 robson street

Artistic rendering of the new Listel Hotel Vancouver tower at 1300 Robson Street. (Henriquez Partners Architects)

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Artistic rendering of the new Listel Hotel Vancouver tower at 1300 Robson Street. (Henriquez Partners Architects)

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