Vancouver Developer to Transform Robson Street with Two 28-Storey Rental Towers

GWL Realty Advisors (GWLRA), a Vancouver-based developer, has acquired the site at 1555 Robson Street in downtown Vancouver's West End. The company plans to combine this property with its existing site at 1525 Robson Street to redevelop the combined 33,000 square foot area into two 28-storey towers.

The new development will feature approximately 400 secured purpose-built rental homes and over 40,000 square feet of retail and restaurant space. This project marks GWLRA's second rental housing tower in the immediate vicinity, following the completion of the 21-storey Chronicle tower at 825 Nicola Street in 2021.

The acquisition of 1555 Robson Street, previously owned by VivaGrand Developments, has led to the cancellation of earlier plans for the individual sites. These plans included a 28-storey tower with condominiums and social housing at 1555 Robson Street and a single tower with rental housing and commercial uses at 1525 Robson Street.

Why this matters: The redevelopment of 1555 and 1525 Robson Street is part of the broader Broadway Plan, approved in June 2022, which aims to densify the Central Broadway corridor with significant additional residential and employment uses. This development contributes to the trend of large-scale, transit-oriented projects in Vancouver, such as the Senakw project and the redevelopment of Burnaby's Metropolis at Metrotown mall.

The Broadway Plan, centered around the future Millennium Line Broadway Extension, has generated substantial interest from developers. Since September 2022, the city has received over 100 pre-application inquiries. Currently, there are more than 35 proposed towers in the Broadway Plan area, which are expected to generate nearly 7,000 rental homes, including both market-rate and below-market units.

"The project will provide much-needed rental housing and commercial space in the downtown Vancouver area," according to sources familiar with the development. The redevelopment of 1555 and 1525 Robson Street is set to transform the area, offering a significant number of new rental homes and retail opportunities in the heart of Vancouver's West End neighborhood.

Key Takeaways

• GWLRA acquired 1555 Robson St to redevelop with 1525 Robson St into 2 rental towers.
• The new development will have 400 rental homes and 40,000 sq ft of retail/restaurant space.
• The redevelopment is part of the Broadway Plan to densify the Central Broadway corridor.
• The Broadway Plan has generated over 100 pre-application inquiries for 35+ proposed towers.
• The project will provide much-needed rental housing and commercial space in downtown Vancouver.