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Tuesday, February 20, 2024

Peterson, Coromandel acquire Oakridge site from Wall; plan hotel & residential

Peterson Group and Coromandel Properties have acquired a development site on the east side of Cambie between West 43rd and West 44th avenues, with plans for a hotel, residential tower and artist studios.

The 0.73-acre development site was purchased from Wall Financial, with the deal brokered by Simon Lim and David Taylor of Colliers. It closed on March 4, 2022.

The developers say the project will include a new-build hotel and a residential tower. Several artist studios will be included as a community benefit and turned over to the city upon completion.

Oakridge is quickly emerging as the City of Vancouver’s second “city centre” with the massive redevelopment of the Oakridge shopping centre by Westbank and QuadReal, and a seemingly endless number of redevelopment projects in the blocks surrounding Cambie and West 41st as part of the Cambie Corridor Plan.

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Peter Meiszner
Peter Meiszner
Peter Meiszner is an experienced journalist and media relations professional, based in Vancouver. As founder of urbanYVR.com, he has been reporting on urban development across the Lower Mainland since 2016, and has also served as vice-chair of the Gastown Historic Area Planning Committee. In October 2022, he was elected to Vancouver city council and is no longer actively reporting for urbanYVR.

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