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Originally Posted by SpongeG
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From the article:
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"The Hollywood [has a future] because he owns the property," says Schein.
"But at a certain point the landlords of the Park and the Ridge and Vancouver East will redevelop that property for condos and retail, and they won't be there any more.
"The Stanley became a live theatre, the same as the Vogue, which is no longer a movie theatre. The Orpheum is no longer a movie theatre, the Capitol is now condominiums. You could go on and on."
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I live a couple blocks from the Park and it's an integral part of that neighbourhood. Yes, it's inevitable that some day the landlord will want to tear it down and build condos on top of retail. In my dream development, the neighbourhood, city and Schein would petition the landlord to include a 3-screen cinema in the redevelopment - it would keep the neighbourhood as a local hub, allow space for other draw retail (maybe some of the existing stores could come back bigger and better), and maybe the city would give the developer extra density in exchange?