The Metro Vancouver Retail Thread

[LeftCoaster]

Originally Posted by trofirhen

From BIV, about Alberni Street and restaurants and retail ....... rather timely.

https://www.biv.com/article/2016/7/s...taurants-alon/

https://www.biv.com/article/2016/4/m...lberni-street/

A couple of interesting pieces from the first article:

Another possibility is that Kobe could be demolished along with Coast, Black+Blue and The Roof.

That’s because Bruser, in 2014, sold the land underneath his 48-year-old restaurant to an offshore buyer who wanted to aggregate the site with his other holdings.

Bruser said the offer was too good to refuse, before adding that he now has a short-term lease.

Looking at the space (seen here) it could be redeveloped into a prime lux development. Would be quite surprised if it didn't given that it was sold at an offer that 'couldn't be refused.'.

also this comment on the Alberni street redo:

Once future rezonings pass and developers pay the city the CACs, the money could flow. Gauthier estimated that $2 million will be spent on the street, and he thinks that it could take between three to five years for the funds to be available.

“We’ll be advocating for some kind of new streetscape design for the sidewalk so it looks and feels different than anywhere else in the city"

[Klazu]

BIV article even mentions those damn telephone poles that are giving some here nightmares .

Seriously though, that article again goes to show how difficult it has become to live or run a business in Vancouver with the soaring prices. Everything is only used for speculation and restaurants that have been local institutions will close in midst of it all. They are really squeezing the livability that the city used to be known for out of this city.

[connect2source]

Originally Posted by trofirhen

Yes, like what you might find in Yorkville, or Rodeo Drive:

http://54zbnhex5mnuhek2fzaht1p7.wpen...2/IMG_6004.jpg

http://blog.foresthill.com/wp-conten...orkville-2.jpg

http://blog.newinhomes.com/wp-conten...-8-640x428.jpg

https://images.trvl-media.com/media/...rive-20395.jpg

All good examples, thanks!! The CRU's on Robson's 1100 block are beginning to look like a 'shantytown' quite frankly. Little to no leasing activity is taking place on the western half of the block. Amazing that the landlords would simply let this once vibrant block wither away when there's high demand for retail just a block away. Hope this changes soon.

As far as better sidewalk design that suits a luxury district, we're 10 - 20 years behind on this, even Robson should have had mid-block crossings and more attractive sidewalks 20 years ago.

[Vin]

Originally Posted by LeftCoaster

A couple of interesting pieces from the first article:



Looking at the space (seen here) it could be redeveloped into a prime lux development. Would be quite surprised if it didn't given that it was sold at an offer that 'couldn't be refused.'.

also this comment on the Alberni street redo:

Precisely what we don't want the developer to do: demolishing Kobe's restaurant building: it is very unique and makes quite a statement on Alberni street. Just because that lot allows higher density, such an interesting structure will have to come down whereas parts of Robson nearby that have shanty structures are ignored by developers because of the building restrictions there. Makes absolutely no sense.

[NewfBC]

Originally Posted by trofirhen

From BIV, about Alberni Street and restaurants and retail ....... rather timely.

https://www.biv.com/article/2016/7/s...taurants-alon/

https://www.biv.com/article/2016/4/m...lberni-street/

Wow.. those Glowbal restaurants are busy!
"He estimates that he serves 800,000 guests annually at his four Alberni Street eateries..."

That's 2200 people per day, 365 days a year!

Ron.

[Klazu]

Haha, I was also questioning his math on my end.

[officedweller]

Second article said the building that Hapa Izakaya was located in is being sold for redevelopment.
That's across the alley from the former Wall Financial development site at 1444 Alberni & 740 Nicola that was rumoured to be sold to Hong Kong-based Asia Standard International Group and Vancouver-based Landa Global Properties.

...
What could have been the final nail in the Robson Street Hapa Izakaya’s coffin, however, was that an investor has been trying to buy the building that Ault was occupying.

Ault said owners of the 45 condominiums above the site’s commercial space have already voted more than 80% to aggregate and sell their units as a block.

Optimum Realty representative Andrew Leung, who managed Ault’s Robson Street site on behalf of the landlord, confirmed to Business in Vancouver that the owner has had an offer to sell the four street-level strata retail units as part of that aggregation.

Ault being behind in his rent gave his landlord the opportunity to kick him out.

Had the rent been paid, the landlord would have had to provide an inducement for Ault to leave, given that Ault’s lease was not set to expire until mid-2019 and the agreement had no demolition clause.

The north side of the 1400-block of Robson Street also includes the Riviera Hotel and a grassy patch of land at the corner of Robson and Broughton streets, which has been vacant for decades.

https://www.biv.com/article/2016/7/s...-prime-locati/

[LeftCoaster]

Originally Posted by Vin

Precisely what we don't want the developer to do: demolishing Kobe's restaurant building: it is very unique and makes quite a statement on Alberni street. Just because that lot allows higher density, such an interesting structure will have to come down whereas parts of Robson nearby that have shanty structures are ignored by developers because of the building restrictions there. Makes absolutely no sense.

I don't understand you. You want more retail density but one of the best places to put it is exactly what you don't want developers to do?



Ultra-lux don't want to be on Robson, they have proved that time and time again. There are plenty of opportunities and they aren't taking them, and haven't in the past.

[officedweller]

From Granville St. twitter:


Upgrades planned for recently sold TOM LEE building 929 Granville. Nordstrom's only a block away #retail
https://twitter.com/GranvilleStreet

[Vin]

Originally Posted by LeftCoaster

I don't understand you. You want more retail density but one of the best places to put it is exactly what you don't want developers to do?



Ultra-lux don't want to be on Robson, they have proved that time and time again. There are plenty of opportunities and they aren't taking them, and haven't in the past.

I think Kobe restaurant itself is very interesting, and I'm sure it's only bought up because of the limited sites to go higher density. As I pointed out, barely a block away on Robson, low-density buildings that deserve to be torn down get to stay forever (some with no tenants) because of zoning restrictions.

The result: Good useable retail buildings, some with good architecture, are destroyed, whereas those deserving to be pulled down along much of Robson, Denman and Davie get to stay forever.

Like I pointed out before, ultra-lux stores do not locate on Robson due to a lack of good quality retail stores there. Put in a new building with 3 or 4 storey retail, with either a mid-rise hotel or office block on top on Robson and you will see stores like Simons, Uniqlo, Saks, etc rushing in to lease.

[Vin]

Originally Posted by officedweller

Second article said the building that Hapa Izakaya was located in is being sold for redevelopment.
That's across the alley from the former Wall Financial development site at 1444 Alberni & 740 Nicola that was rumoured to be sold to Hong Kong-based Asia Standard International Group and Vancouver-based Landa Global Properties.


https://www.biv.com/article/2016/7/s...-prime-locati/

I wonder if the site would allow anything taller or of higher density than what is there right now.

[Rocketeer]

Originally Posted by officedweller

From Granville St. twitter:


Upgrades planned for recently sold TOM LEE building 929 Granville. Nordstrom's only a block away #retail
https://twitter.com/GranvilleStreet

I wonder what type of upgrades they're planning for the building? Is the building designated heritage?

[etceteraism]

Originally Posted by jlousa

Anyone know whats going into 50 Powell St? Looks like they've dumped a lot of money into the renos and the setup looks like Lululemon... which would be interesting seeing how Chip Wilson is buying up Gastown and surrounding area and has his new flagship close by.

Chip Wilson has no involvement with lululemon anymore-I'm not sure if his offices are upstairs but they definitely aren't lulu offices there.

[jollyburger]

Originally Posted by etceteraism

Chip Wilson has no involvement with lululemon anymore-I'm not sure if his offices are upstairs but they definitely aren't lulu offices there.

Agreed on the non-involvement with Chip Wilson, but it is lululemon labs.



Source: https://twitter.com/darylclaudio/sta...63617256935425

[NewfBC]

Originally Posted by etceteraism

Chip Wilson has no involvement with lululemon anymore-I'm not sure if his offices are upstairs but they definitely aren't lulu offices there.

http://www.yellowpages.ca/bus/Britis...100842030.html

Looks like it's a design lab.. they've been recruiting for Men's designer at this location.
https://ca.linkedin.com/jobs/view/125388161

Ron.

[officedweller]

Originally Posted by Vin

I wonder if the site would allow anything taller or of higher density than what is there right now.

Probably 300' - check the West End Community Plan.

[RDW989]

Vacant for about four years -- since the White Spot moved out -- there were people starting to work on the downtown RYU store today, Thurlow/Robson

My pix, July 14

[connect2source]

Wonder why it's taking so long to lease the former Tommy Hilfiger and A/X spaces in Robson Centre Place around the corner. Seems too prime to be vacant for so long.

[cairnstone]

Originally Posted by Klazu

Haha, I was also questioning his math on my end.

if my math is right that's grossing 80 million a year. Everytime I eat out in fine dining its 100 bucks a head with drinks. This is no difference than Alberto moving up a couple blocks on Hornby and building a new brand restaurant

[cairnstone]

Originally Posted by etceteraism

Chip Wilson has no involvement with lululemon anymore-I'm not sure if his offices are upstairs but they definitely aren't lulu offices there.

Is Lulu the owner of the building or are they just the tenent. I may be wrong but I believe Chips owns the building. I heard about the gastown property 3 years ago and that was still when chip was involved in lululemon. Them kit ace opened so I assumed that was the spot lulu was supposed to move to.