The Metro Vancouver Retail Thread

[whatnext]

Originally Posted by Spr0ckets

I doubt we'll get anything like the JV proposal of 2022 in terms of that much office in the current market or even in a few years down the road.

Probably a mixed use proposal leaning more on hotel and other retail and some minimal ffice.

I'd be really curious to see how a hotel would perform at that location.

The former 4 Seasons down the street a block over has been under renovation/refurbishment for what almost seems to have been forever - with CF now opting to demolish it altogether and a couple of blocks south, Bonnis refrained from having one of their tower proposals for the 800 Granville be fully hotel - instead opting for just some hotel in the podium an mostly residential in the rest of the towers.

It's almost as if despite what everyond keeps saying about the accute hotel shortage in Vancouver and the metro region, the market might be showing something different for the would-be developers who might be in a position to build more.

Maybe the demand isn't as strong as we all think it is, even with a major global event (the World Cup) headed our way next year.

Yes to this. While summers are very busy there’s a long wet winter with much lower occupancy. Even looking as close in as next week, you can get the Sutton Place for $345 and its cruise ship season.

[csbvan]

Originally Posted by whatnext

Yes to this. While summers are very busy there’s a long wet winter with much lower occupancy. Even looking as close in as next week, you can get the Sutton Place for $345 and its cruise ship season.

$345 isn't a deal. I can get 5 stars in Bangkok for less than half that price. 4 in NYC, midtown for $100 less.

[whatnext]

Originally Posted by csbvan

$345 isn't a deal. I can get 5 stars in Bangkok for less than half that price. 4 in NYC, midtown for $100 less.

Really, I couldn’t see a 4 star in Manhattan next week for less than $430 on Travelocity.

Regardless, $345 for a luxury hotel isn’t bad as we near peak season. And as I said, there’s a long off-season here when hotels aren’t getting rates like that. That’s the conundrum, we need more rooms in the summer but not the winter.

[connect2source]

We called it, JD Sports, Robson opened Sat May 31. Between Adidas, Foot Locker and now JD all within 3/4 of a block, it's sneaker heaven on this part of Robson, oh and Brown's has a decent selection too.

[C3YVR]

I'm currently in Germany and JD have lots of stores but I don't find them anything extraordinary and they have a lot of competition here.

[connect2source]

Originally Posted by whatnext

Really, I couldn’t see a 4 star in Manhattan next week for less than $430 on Travelocity.

Regardless, $345 for a luxury hotel isn’t bad as we near peak season. And as I said, there’s a long off-season here when hotels aren’t getting rates like that. That’s the conundrum, we need more rooms in the summer but not the winter.

I travel to Victoria a lot to see family. I've noticed hotel rates less than June 2024, on the Fairmont / Accor site I saw rates for The Empress at under $300CAD and Grand Pacific on Expedia, also under $300CAD, for next weekend. Was quite a bit more this time last year.

[jollyburger]

I mean both things can exist. Hotel room shortage (especially around peak seasons) with high occupancy throughout the year. And hesitant builders who have to front up hundreds of millions of dollars to build a hotel and recoup that over a few decades let alone finding the financing to do it.

I wonder how occupancy rates would work if you factor in AirBnB beds?

[csbvan]

Many tourist hubs of the world are truly seasonal and maintain high numbers of hotel rooms compared to Vancouver. As a large city, Vancouver can leverage events through the off-season to boost occupancy (sports, concerts, start/finish hub for ski trips to Whistler, business trip and conferences).

But hey, I do understand that the hospitality experts here are better positioned to comment on hotel needs for the City than Destination Vancouver.

[Vin]

We wouldn't have hotel room shortage if there hadn't been a Viewcone enacted in the short-sighted 80s. There would definitely be a surplus today. Hotel developers only dare provide lots of room if they can build large, or tall in the downtown perspective. There are many policies enacted that have essentially handicapped many industries here, including retail and hotel accommodation.

[whatnext]

Originally Posted by csbvan

Many tourist hubs of the world are truly seasonal and maintain high numbers of hotel rooms compared to Vancouver. As a large city, Vancouver can leverage events through the off-season to boost occupancy (sports, concerts, start/finish hub for ski trips to Whistler, business trip and conferences).

But hey, I do understand that the hospitality experts here are better positioned to comment on hotel needs for the City than Destination Vancouver.

And curiously, Destination Vancouver gets their revenue from the hotel tax...

[dreambrother808]

Originally Posted by Vin

We wouldn't have hotel room shortage if there hadn't been a Viewcone enacted in the short-sighted 80s. There would definitely be a surplus today. Hotel developers only dare provide lots of room if they can build large, or tall in the downtown perspective. There are many policies enacted that have essentially handicapped many industries here, including retail and hotel accommodation.

The researcher at work presenting another carefully investigated thesis…

[jollyburger]

Originally Posted by dreambrother808

The researcher at work presenting another carefully investigated thesis…

It's obvious they would have built hotels into the view cones in the 1990s waiting for a hotel shortage 30 years later. The only really tall modern hotels in Vancouver exist because they wanted condos on top.

PS. The view cones weren't created until 1989.

[SpongeG]

this sign was posted at the Willowbrook Bay store, it wasn't there last weekend. I wonder if it means that this could be one of the stores that Ruby Liu is getting?

PXL_20250601_004904370 by snub_you, on Flickr

[jollyburger]

Southgate mall in Edmonton has the same sign. Tells people to go to Kingsway or St Albert.

The liquidation/lease sale doesn't seem to specify equipment to be held for a lease monetization process but who knows.

[whatnext]

Originally Posted by NewfBC

The Toys R Us on Broadway is closing as well.

Ron.

Apparently it is going to be a grocery store from Sobeys:

Former Vancouver Toys "R" Us to become new grocery store
What does this mean for the Bowmac sign?
Brendan Kergin Brendan Kergin
about 21 hours ago

Notices up at the former Toys "R" Us store in Vancouver's Fairview neighbourhood indicate a new tenant is moving in: Sobeys.

What exactly the Canadian grocery store giant plans for the site at 1154-1174 W Broadway is unclear.

Sobeys owns a variety of brands, including Safeway, FreshCo, Thrifty Foods, and IGA. Each of those brands has multiple locations in Metro Vancouver. Sobeys also owns Foodland, Lawtons, and Sobeys grocery stores; none of those are found west of the Rockies.

The notice on the doors indicates commercial construction, demo work, and tenant improvements are coming to the 11,500-square-foot space, including electrical work. The work by the current contractor should last about four weeks, starting May 26, 2025, and will cost more than $100,000....

https://www.vancouverisawesome.com/local...eys-grocery-store-west-broadway-10755497

[NewfBC]

Originally Posted by whatnext

Apparently it is going to be a grocery store from Sobeys:

Former Vancouver Toys "R" Us to become new grocery store
What does this mean for the Bowmac sign?
Brendan Kergin Brendan Kergin
about 21 hours ago

Notices up at the former Toys "R" Us store in Vancouver's Fairview neighbourhood indicate a new tenant is moving in: Sobeys.

What exactly the Canadian grocery store giant plans for the site at 1154-1174 W Broadway is unclear.

Sobeys owns a variety of brands, including Safeway, FreshCo, Thrifty Foods, and IGA. Each of those brands has multiple locations in Metro Vancouver. Sobeys also owns Foodland, Lawtons, and Sobeys grocery stores; none of those are found west of the Rockies.

The notice on the doors indicates commercial construction, demo work, and tenant improvements are coming to the 11,500-square-foot space, including electrical work. The work by the current contractor should last about four weeks, starting May 26, 2025, and will cost more than $100,000....

https://www.vancouverisawesome.com/local...eys-grocery-store-west-broadway-10755497

That is fantastic news. Hopefully a FreshCo.

Ron.

[SpongeG]

Does Sobeys really own IGA? I thought that was a different company.

[officedweller]

Originally Posted by SpongeG

Does Sobeys really own IGA? I thought that was a different company.

Sobeys owns IGA outside of BC.
Within BC, IGA is owned by HY Louie.

Originally Posted by NewfBC

That is fantastic news. Hopefully a FreshCo.
Ron.

That would add competition for No Frills.
It could also be Safeway though, to serve the future Broadway corridor
and if the 4th & Vine store will be closing soon for redevelopment.

[officedweller]

Just noticed this morning that Ricardo's has rolling shutters.
Pic by me.

[jollyburger]

Looks like West Elm on Granville vacating their space by Feb 2026

https://property.jll.com/en-ca/listings/2915-granville-street