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Tuesday, April 16, 2024

1980s West End strata at 1045 Haro Street for sale

A new redevelopment opportunity has surfaced in Vancouver’s West End, just one block from Robson and Burrard streets.

Cushman & Wakefield is representing owners of the 1045 Haro Street “City View” strata condominium complex, a seven-storey building built in 1980, as well as the owners of a recently renovated (2016) commercial building at 842 Thurlow Street.

The two properties are being marketed as a package, with Cushman & Wakefield calling the property “one of the largest and most prominent redevelopment opportunities ever experienced in downtown Vancouver.”

1045 Haro Street redevelopment opportunity
Google streetview capture of the strata apartment building at 1045 Haro Street, Vancouver.

These previously under-appreciated properties are suddenly some of downtown Vancouver’s hottest redevelopment opportunities due to changes introduced in the West End Community Plan, adopted by the city in 2013 but now just starting to have an impact on the area.

The plan allows buildings up to 60 storeys in some locations. This property falls under the “Burrard Corridor E” part of the West End Community Plan, where building heights up to 550 feet can be considered. (see page 50 of West End Community Plan)

West End Community Plan building heights
Rendering from the City of Vancouver West End Community plan, showing new towers that could be added to the area.

Cushman & Wakefield says “it is estimated that 1045 Haro redevelopment presents the potential to redevelop the site to, likely, a two tower redevelopment scheme.”

1045 Haro Street redevelopment opportunity
Google street view capture of the existing three storey office building at 842 Thurlow Street, recently renovated.

The increase in allowable building heights has already caused a land rush in the area, with one run-down, three storey walk-up on Nelson Street being flipped for $68 million in a deal earlier this year. 

Individual condo owners in strata buildings are cashing out, banding together to sell their buildings in the West End to developers, in some cases receiving double the market value for their units due to the higher building heights now allowed in the West End plan.

The property sale at 1045 Haro Street is subject to a bid process with no formal asking price. More details can be found in Cushman & Wakefield’s offering brochure here.

1045 Haro Street redevelopment opportunity
The total site area of the Property is approximately 43,230 square feet (0.99 acres) with estimated 330 feet of frontage along Haro Street (Property’s width) and 131 feet of frontage on Thurlow Street (Property’s depth). Credit: Cushman & Wakefield

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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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  1. The realtor is not selling this as an opportunity to build two 550′ tall towers. There are two reasons why 550′ is not achievable here:

    1) View cones. The applicable view cones restrict height on this block to about 265′. You can verify this by looking at the view cones on VanMap and doing the math.

    2) Even at 265′, these new towers would shadow the Robson Village (as show in the WE plan), which the City will not allow. Same goes for Davie Village. This you wouldn’t know without talking to the City.

    The City has told the realtor that the maximum height is somewhere between 15 – 20 stories, to be confirmed a later date.

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