Major redevelopment proposed for Vancouver's flagship Hudson's Bay building
One of downtown Vancouver’s trademark buildings may soon have a new look.
On Wednesday, representatives from Hudson’s Bay Company (HBC) and its partners RioCan Real Estate Trust revealed a proposal for major upgrades to the city’s flagship store.
They say the current six-storey heritage building at 674 Granville Street would remain in place, while a 12-storey office tower would be built on top.
The upgrade would add an addition one million square feet and provide up to 5,000 jobs, they said.
It would also include multi-level atriums and a rooftop garden.
The existing 400, 000 square feet will include a revamped version of the Bay retail store as well as restaurants.
“The way consumers live, work and shop is changing rapidly and HBC is committed to evolving to reflect these shifts, while unleashing the full value of our prime properties and reinvigorating the urban districts in which they are situated,” said Ian Putnam, president and CEO, HBC Properties and Investments.
There will also be a covered pedestrian walkway with access to the property, as well as an underground storage for up to 1,500 bicycles.
The companies say they plan to improve access from the building to the Granville SkyTrain station, the Vancouver-City Centre Canada Line station, local bus routes.
Vancouver is already awaiting thousands of jobs from other major projects like the new art gallery and an Amazon tech hub.
"Our cafes, our restaurants, our retailers all benefit from the injection from these office workers and these significant projects," said Nolan Marshall, president of the Downtown Vancouver Business Improvement Association.
“These kinds of developments aren’t happening in other places in North America, so the fact that they’re happening in Vancouver should be encouraging to everyone."
HBC will be submitting an application for rezoning and heritage revitalization to the city in the comings weeks.
They say if approved, construction could begin as early as 2024.
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